Spend Matters

NOVEMBER 21, 2023

Last month, I presented at a customer advisory board (CAB) session that Fairmarkit invited me to join to present on stakeholder engagement and alignment. segmented and tailored source/purchase/pay workflows and forms), including sourcing process channels (which can also have process paths auto-generated by GenAI for consideration).

Strategy 111

Strategy Bidding Sourcing Stakeholder engagement 111

Una

JANUARY 9, 2023

5 steps to take when managing tail spend to avoid making purchases within an organization that go underutilized or unused. The term quickly stuck and came to represent any of our company’s untracked, questionable, and possibly wasteful purchases. So, how many porcelain Dalmatians has your company recently purchased? .

Management 97

Management Spend management Purchasing Procurement team 97

Procurement Insights

MARCH 2, 2024

Software Licensing renewals and new purchases Subscriptions (Microsoft 365, Adobe Creative Cloud, Salesforce, etc.) Hardware Servers Computing resources (desktops, laptops, mobile devices, etc.) Networking equipment and infrastructure (firewalls, switches, wireless access points) Support contracts (warranties, renewals, etc.)

Budget 81

Budget Stakeholder engagement Project management Sourcing 81

Jaggaer

FEBRUARY 5, 2025

Strategic sourcing formalizes the gathering, analysis and application of information to align purchasing strategies with the organizations broader goals while securing the best possible overall value. Which Suppliers Are Truly Strategic? Even the largest organizations have limited time and resources.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Spend Matters

DECEMBER 13, 2023

Moreover, intake from these vendors tends to skew toward purchase requisitions and procure-to-pay rather than more holistic intake management. Intake covers anything that involves stakeholder engagement, such as the creation of a contract, sourcing event, new supplier, etc.

Management 103

Management Stakeholder engagement Purchasing Sourcing 103

Procurement Templates

MARCH 3, 2024

A RFQ is used for low cost purchases and a PQQ is typically used for higher cost tenders. Stakeholder Engagement : It’s important to involve relevant stakeholders in the assessment process to ensure that their needs and preferences are considered. Can you spot the mistakes! This is where she’s gone wrong.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Future Purchasing

NOVEMBER 18, 2021

In some respects, business partnering has become the natural progression for Procurement teams to move from their traditional stakeholder engagement approach to a more sophisticated deeply embedded relationship status that identifies greater value for its stakeholder community.

Stakeholder engagement 52

Stakeholder engagement Procurement Procurement team Influencing 52

ivalua

DECEMBER 6, 2022

With so many stakeholders engaged in the P2P process, one function must take the lead in preventing functional sub-optimization. As a result, purchases are linked to the wrong sub-category which jeopardizes the quality of spend analyses while it creates rework in the downstream process.

e2e 130

e2e Suppliers Procurement Contract 130

Procurement Templates

SEPTEMBER 14, 2023

For example, a product with a lower purchase price may have higher long-term operational and disposal costs. Stakeholder Engagement : Community Engagement : Assess how suppliers engage with and contribute to local communities, supporting social and environmental well-being.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

SCMDOJO

APRIL 26, 2023

Vey key to a successful category management strategy, stakeholders must be identified and managed at different levels to ensure the success of the strategy. Both purchasing and supplying organizations must be ethical in their dealings throughout the category management process. Prudent and proper stakeholder engagement and management.

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

IBM Supply Chain Blog

DECEMBER 13, 2023

It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. A procurement strategy is a structured plan that an organization develops to guide its purchasing process in a way that aligns with its business needs.

Procurement strategies 65

Procurement strategies Strategy Procurement Agile and Lean Supply Chain 65

Procurement Software

SEPTEMBER 24, 2024

These technologies handle transactional tasks such as purchase order processing and invoice matching, freeing up time for more value-added activities. New tools are helping reduce maverick spend by engaging stakeholders early in the process. For low-value and non-complex purchases, expect near-complete automation.

Procurement 52

Procurement Supplier relationship management Bidding Contract 52

Una

NOVEMBER 29, 2023

But with a group purchasing organization working behind the scenes to save you money, time, and effort, there’s a golden opportunity to put your valuable time to better use. Managing Procurement Risk with a Group Purchasing Organization Benefits of Strategic Sourcing How GPOs Can Help Improve Procurement Compliance 5.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Supplier relationship management Strategic sourcing 52

Una

OCTOBER 26, 2023

Stakeholder engagement The procurement function can’t shift the dial on ESG alone. Cultivate relationships within your professional network to enhance your stakeholder engagement abilities. This includes quantifying environmental impacts, evaluating supply chain risks, and tracking progress towards ESG goals.

Management 52

Management Procurement Supply Chain Efficiency Stakeholder engagement 52

World of Procurement blog

MAY 8, 2024

Procurement differs from purchasing in a few key ways: Strategic focus : Procurement has a strategic, long-term focus on analyzing spend, reducing costs, managing supplier relationships, and mitigating risk. Purchasing is more transactional and tactical. Purchasing focuses specifically on the buying transaction.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

NLPA (Next Level Purchasing Association)

OCTOBER 16, 2024

Recommended Reading Seven Keys to Better Sourcing and Supplier Relationships Soft Skills for Supplier Relationship Management A Gameplan for Procurement Transformation How To Develop Leadership Skills Within Your Procurement Department The post How to Deal with Difficult Stakeholders in 2024 appeared first on Next Level Purchasing Association (NLPA). (..)

Supplier relationship management 52

Supplier relationship management Leadership Strategy Procurement 52

Una

AUGUST 21, 2023

Stakeholder engagement First up, begin by engaging stakeholders from various departments, such as finance, operations, and ESG, at an early stage. This happens when people choose to ignore procurement rules and purchase off-contract, eroding value, damaging supplier relationships, increasing costs and risks.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Ethics 52

Empowering CPO

MAY 4, 2023

By effectively managing the purchasing process, companies can better control their expenditures and optimize their supply chain, ensuring the availability of the right products and services at the right time. Some of the key benefits include: 1. Develop a Comprehensive Procurement Strategy A. This alignment can be achieved by: 1.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

Una

OCTOBER 31, 2023

Stakeholder engagement Engaging stakeholders early and consistently is crucial. Identify and involve key stakeholders from various departments who will be affected by the change. Download Una’s free playbook, How to Manage Risk Using a Group Purchasing Organization: 13.

Change management 52

Change management Management Procurement Leadership 52

Procurify

MAY 24, 2022

Once you’ve identified the gaps in your previous plan, the next step is to list stakeholders that your new procurement strategy might impact. This is because, without the necessary stakeholder engagement, it will be almost impossible to implement your strategy. Step 5: use procurement software .

Procurement strategies 52

Procurement strategies Strategy Procurement Cost of ownership 52

Future Purchasing

NOVEMBER 10, 2021

Here are a few examples, starting with the early stages of strategy development, where success depends on high-quality stakeholder engagement and project planning. Embedding category management and supplier management is challenging for most organisations, so how might coaching have a high impact?

Category management 52

Category management Management Leadership Stakeholder engagement 52

Claritum

JUNE 13, 2019

So, let’s start this article by breaking down the domains by nature of purchases. Purchasing raw materials that are needed within a process industry (for example oil or chemicals). Purchasing resource time of people. The purchases associated with the physical movement of goods sits here. Stakeholder engagement.

Procurement 32

Procurement Supply Chain Efficiency Raw materials supply chain software solutions 32

Empowering CPO

JUNE 26, 2023

Spend analysis refers to the process of examining and categorizing an organization’s spending patterns, supplier relationships, and purchasing behavior to identify opportunities for cost reduction, process improvement, and strategic decision-making. Addressing tail spend can lead to significant cost savings and process efficiencies.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Barkers Procurement

SEPTEMBER 25, 2024

Where this happens, it’s essential that appropriate due diligence takes place to ensure that the right purchasing decision is made and that effective controls are in place to mitigate potential risks. Equally important to carrying out appropriate due diligence is a collaborative challenge to requirements.

Import 52

Import Negotiation Contract Suppliers 52

The Procuretech Podcast

OCTOBER 12, 2022

She decided that she wanted to focus on helping companies that didn't have the kinds of resources that Johnson and Johnson had to create a purchasing organisation: Working for firms where she would either create a procurement organisation, or fix a broken one. That becomes a very interesting stakeholder engagement learning experience.

supply chain budgeting 40

supply chain budgeting supply chain software solutions Supply chain Supply 40

TYA Suite

JULY 17, 2024

Relies on manual processes for sourcing, negotiation, and Focuses on cost reduction through competitive bidding and bulk purchasing. Effective execution demands robust project management, stakeholder engagement, and change management practices. Limited use of technology and digital tools in procurement operations.

Procurement strategies 40

Procurement strategies Strategy Supply Chain Efficiency Procurement 40

TYA Suite

NOVEMBER 25, 2024

Sustainable procurement is a growing approach that focuses on purchasing goods and services with consideration for their environmental, social, and economic impacts. This concept goes beyond just the cost and quality of products; it involves analyzing the entire lifecycle of what is being purchased—from sourcing raw materials to disposal.

Sustainability 40

Sustainability Import Supply Chain Efficiency Procurement 40

Future Purchasing

OCTOBER 4, 2022

We all know that without the right level of stakeholder support many of these projects simply will not be implemented. Developing a pipeline of category projects should be a collaborative and creative process. Too often Procurement works in isolation when deciding what category projects to work on.

Category management 52

Category management Collaboration Real-time Visibility Management 52

Pipefy

JANUARY 9, 2024

Purchase order request process and how to increase accuracy and control with integrated digital systems. AI-enhanced purchasing decisions AI capabilities in procurement software can enable smarter purchasing decisions, optimizing the department’s activities based on historical data.

Real-time Visibility 52

Real-time Visibility Contract management Contract Management 52

Empowering CPO

JUNE 27, 2023

Spend analysis involves the systematic examination of purchasing data to gain insights into spending patterns, supplier performance, and potential areas of improvement. Collaboration and Stakeholder Engagement: Digital platforms and cloud-based solutions facilitate collaboration among procurement teams, suppliers, and other stakeholders.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40

Spend Matters

OCTOBER 4, 2024

This last requirement may be rather technical, but the enabled capabilities allow for earlier, deeper and tailored stakeholder engagement to provide better experience/satisfaction, adoption — which, ironically, is a characteristic that Coupa has continually held as the North Star — spend compliance and influence on pre-sourced spend.

Sustainability 112

Sustainability Spend management Real-time Visibility Supply Chain Optimization 112

Procurement Insights

APRIL 7, 2025

In contrast, an intake and orchestration model in procurement focuses on streamlining the process of handling purchase requests and coordinating procurement activities. automating purchase requests, approvals, and tool integrations). Intake & Orchestration : Focuses on streamlining workflows within a single company (e.g.,

Real-time Visibility 52

Real-time Visibility Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization 52

NLPA (Next Level Purchasing Association)

OCTOBER 28, 2024

Recommended Reading Seven Keys to Better Sourcing and Supplier Relationships Soft Skills for Supplier Relationship Management A Gameplan for Procurement Transformation How To Develop Leadership Skills Within Your Procurement Department The post How to Deal with Difficult Stakeholders in 2025 appeared first on Next Level Purchasing Association (NLPA). (..)

Supplier relationship management 52

Supplier relationship management Leadership Strategy Procurement 52

Planergy

MARCH 20, 2025

Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. Use PLANERGY to manage purchasing and accounts payable Weve helped save billions of dollars for our clients through better spend management, process automation in purchasing and finance, and reducing financial risks.

Import 52

Import Strategy Budget Risk 52