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

Strategic Sourceror

JULY 24, 2022

A Blog for Procurement, Supply Chain and Purchasing Professionals, sponsored by Corcentric , a leading Procurement Service Provider, specializing in Strategic Sourcing, Procurement Resources and Procurement Advisory. And that is what really matters. Brought to you by the StrategicSourceror.

Supply chain resilience 57

Supply chain resilience Supply chain Supply Consumer demands 57

Strategic Sourceror

OCTOBER 27, 2022

Shoring up staff is a good way to increase supply chain resiliency, which companies are trying to do more of today to ensure theirs has what it takes to stay together when it's taxed in the future. Brought to you by the StrategicSourceror.

Collaboration 105

Collaboration Supply Chain Efficiency supply chain software solutions Supply chain 105

Supply Chain Game Changer

APRIL 15, 2020

There are plenty of great blogs and news outlets on the web where one can find interesting articles surrounding procurement & sourcing, but below are some of our favorite go-to outlets! The inner ring & central focus areas being: Strategic Sourcing Contract Management Requisitioning Purchasing/Spot Buys Payment Spend Analysis.

Procurement 90

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 90

Una

OCTOBER 12, 2023

Understanding Offshoring, Onshoring, Nearshoring, and Rightshoring in Procurement Explore the nuances between offshoring and other approaches to procurement and how each one can impact the bottom line, supply chain resilience and overall strategic objectives.

Supply Chain Optimization 52

Supply Chain Optimization Procurement Supply chain resilience supply chain budgeting 52

Empowering CPO

JUNE 30, 2023

These experts don’t just handle the purchasing, but they also bring in their knowledge, skills, and technology to streamline the process, manage risks, and ultimately, unlock greater value for the business. But in today’s complex business environment, procurement services have evolved beyond these basic functions.

Management 40

Management Procurement Supplier relationship management Supply Chain Efficiency 40

Empowering CPO

JUNE 14, 2023

It is a strategic process that involves identifying business needs, sourcing suppliers, negotiating contracts, managing supplier relationships, and ensuring the timely delivery of high-quality products or services. These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52

Planergy

JANUARY 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. As the pandemic showed us, things happen to shake things up at the global level, and companies that were prepared and could pivot quickly were the most successful regarding supply chain resilience and business continuity.

Risk 52

Risk supply chain software solutions supply chain budgeting Supply Chain Efficiency 52

Empowering CPO

JUNE 9, 2023

It is the process of sourcing, negotiating, and purchasing the goods and services a business requires to carry out its operations. This can range from raw materials for production, to office supplies, to strategic partnerships. Examples include cost savings, cost avoidance, and purchase price variance.

Procurement 52

Procurement Supply Chain Efficiency Agile and Lean Supply Chain Quality 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. Procurement professionals had to sift through piles of invoices, purchase orders, and receipts to manually categorize and analyze spending patterns.

Real-time Visibility 40

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