Spend Matters

FEBRUARY 26, 2024

This is the first in a three-part series that covers Fairmarkit’s sourcing offerings. Part of the ‘tail spend challenge’ relates how much effort it can take to understand it, acquire sufficient visibility and ‘data quality’ and address it with SxM and sourcing solutions. This content is for members only.

Market analysis 115

Market analysis Sourcing Spend management Purchasing 115

Procurement Tactics

SEPTEMBER 8, 2022

Additionally, it should not be confused with strategic sourcing which is more focused on the long-term approach. Strategic sourcing promotes the timely supply of goods or services that are needed to meet the objectives of an organization. . This course is a perfect fit for ambitious procurement & sourcing professionals.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

Spend Matters

JUNE 19, 2023

In this article, our analyst Bertrand Maltaverne looks at Direct Materials Sourcing solutions. What does a Direct Materials Sourcing solution do? See ‘ Sourcing Optimization ‘ for the sourcing of direct services such as complex logistics.

Sourcing 98

Sourcing Bidding Price Suppliers 98

Procurement Insights

FEBRUARY 18, 2025

EDITOR’S NOTE: I have recently completed a preliminary analysis of Packaging & Container Companies’ challenges to enable greater supplier collaboration and automation around the purchase order process, including PO confirmations, shipment notices, and price/quantity changes.

Purchase orders 52

Purchase orders Collaboration Purchasing Suppliers 52

SCMDOJO

DECEMBER 14, 2023

In the global world of businesses, companies often seek help from sourcing agencies to figure out how to get the things they need. But what’s a sourcing agency or sourcing agent and how does it make buying things easier? Let’s explore this world of sourcing agencies and understand what they do.

Sourcing 104

Sourcing Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain 104

SCMDOJO

JANUARY 23, 2025

A business will lose money if these resources and services are sourced from distant regions and locations. And vice versa, sourcing from nearby locations will save money and time. Remember that modern search engines favor quality over quantity. Online reputation management is a big part of local SEO.

Supply chain management 98

Supply chain management Supply chain management Supply Chain Optimization Supply Chain Efficiency 98

Jaggaer

OCTOBER 24, 2024

Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more. Analytics also help you better evaluate potential suppliers, pinpoint cost-saving opportunities, and strengthen future sourcing strategies.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52

ivalua

DECEMBER 2, 2015

Managing suppliers through qualification activities will confirm their ability to produce and deliver components at the proper quality and quantities to support customer demand.

Suppliers 140

Suppliers Strategic sourcing Strategic sourcing Innovation 140

SCMDOJO

JUNE 3, 2022

The document indicates the details of the goods to be purchased, such as the type of the goods, quantity of the items, agreed-upon price, and payment terms. Plus, you can quickly check whether you’ve received the correct items and in the right quantity and quality when your order arrives. Image Source: ControlHub. To Sum It Up.

Purchase orders 131

Purchase orders Purchasing Quantity Buyers 131

Procurement Tactics

JUNE 7, 2023

The formula is: PPV = (Actual cost – Standard cost) x Actual quantity An increase in actual costs results in a positive variance, while a decrease in actual costs results in a negative variance. Sustainable Procurement Course Maintain profitability while moving toward sustainability 4.

Price 130

Price Purchasing Raw materials Negotiation 130

The Good Spending

SEPTEMBER 2, 2023

end-user equipment) where the goods are sourced in batches, and only the price and delivery terms matter. For example, when repeatedly sourcing a product already well-known for its quality and price, the main emphasis is on negotiations, creating competition, and ensuring rhythmic supply.

Sourcing 59

Sourcing Procurement Category management Demand Planning 59

Procurement Tactics

AUGUST 17, 2022

Additionally, it will decrease the risks that you can bring to your organization by sourcing ineffective suppliers. . Quantity – The organization can also consider the comparison between quantities ordered and received. This course is a perfect fit for ambitious procurement & sourcing professionals. LEARN MORE.

Suppliers 130

Suppliers Procurement Quantity Price 130

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. By applying historical data on pricing, quantities, and terms, it enables organizations to negotiate favorable terms with suppliers.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Procurement Tactics

JULY 2, 2023

Laying out the relevant details such as the quality standards, quantities, and specifications of the subject goods or services as well as the other dependencies will allow for an effective collaboration and avoid misinterpretation. Provides other functions such as sourcing, contracting, supplier management, and payment management.

supply chain budgeting 184

supply chain budgeting Supply Chain Efficiency Negotiation Budget 184

TYA Suite

MAY 14, 2023

The procurement source-to-pay process includes steps including vendor evaluation, contracting, supplier identification, and payment for products provided. The source to pay process (S2P) comprises of all the procurement tasks that involve the vendor and the organization. When is a source-to-pay system used by a company?

Sourcing 52

Sourcing Raw materials Purchase orders Quantity 52

Spend Matters

JULY 25, 2022

Categories: Procurement Strategy & Planning , Procurement Systems & Architecture , Solution Providers , Source to Pay , Spend Management , Supply Management , Technology Tags: PRO I attended Coupa’s annual Inspire conference this year and was excited to finally attend a large event rather than just small meetings with clients and colleagues.

Spend management 98

Spend management Supply Chain Optimization Supply chain management Supply chain management 98

Spend Matters

SEPTEMBER 24, 2024

Sourcing as a discovery and competitive process — Sourcing is fundamentally a discovery process. “Sourcing by nature is the cornerstone of procurement activities, aimed at discovering the best fit for the business need,” Maltaverne said. Examine the components of the price, such as shipping and order quantity.

Strategy 110

Strategy Procurement Strategic planning Suppliers 110

SCMDOJO

DECEMBER 11, 2023

Item Details and Total Cost: Description, Quantity, and Unit Price: Specifics of the items or services, including descriptions, quantities, and unit prices. Total Cost: The overall cost of the purchase order, calculated based on quantities and unit prices. goods, services, or indirect spending).

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

Procurement Tactics

JUNE 27, 2023

Net Quantity of Contents It is the amount of food inside the packaging. Note : The Net Quantity of Contents is mainly located in the bottom of the packaging. Therefore, source materials that are renewable, recyclable, compostable, and legally compliant with the logistics, shipping laws, and regulations. They handle it all.

Quality 191

Quality Price Suppliers Negotiation 191

Procurement Tactics

JULY 18, 2022

Includes need recognition, contract source, and sourcing. The market research should cover sourcing new potential suppliers. Sourcing specialists can greatly help the procurement department or manager to identify new sources of supply. . Activities related to buying goods and services. Purchasing. LEARN MORE.

Procurement 130

Procurement Negotiation Vendor relationships Purchasing 130

Procurement Tactics

MAY 8, 2023

At its core, it is the integration of all the partners in the supply chain where important and critical information from all sources is gathered and shared with all the trading partners in the supply chain. This includes order quantities, product types, order frequency, and lead time.

Supply Chain Efficiency 200

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 200

Supply Chain Opz

MARCH 6, 2015

However, complex supplier relationships, unreliable sources of material supply, and ever-increasing customer expectations greatly add to the expectations to select the best suppliers and conduct their operations more efficiently. One of these trends, in addition to inventory keeping, is dual/multi-sourcing.

Supply Chain Optimization 111

Supply Chain Optimization Supply Chain Efficiency Supply chain e2e 111

Supply Chain Game Changer

JANUARY 20, 2022

Source Products And Supplier. The purpose of opening this communication protocol is to see how quickly the source responds. To do this, you can prepare an Excel file containing product links and quantities you want to be quoted. After confirming the product quantity and vendor, it’s time to order and pay.

Import 96

Import Buyers Quantity supply chain software solutions 96

Strategic Sourceror

SEPTEMBER 22, 2022

Minimizes waste Massive quantities of materials wind up in landfills every single year. 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.

Supply chain 112

Supply chain Raw materials Supply Strategic sourcing 112

SCMDOJO

JANUARY 22, 2025

Receiving: This crucial stage involves the efficient offloading of goods from incoming trucks, conducting thorough inspections to ensure quality and quantity accuracy, and accurately documenting the receipt of inventory. So, the leading five activities include: 1.

Logistics 52

Logistics Supply Chain Efficiency supply chain budgeting Order Fulfillment 52

ivalua

AUGUST 21, 2022

First of all, we must identify the suppliers with the highest emissions either by physical quantity or amounts spent. This means having an integrated decision-making tool to avoid having to compile multiple new data sources, new Excel files, new software, etc. Source new suppliers with a low carbon footprint.

supply chain software solutions 130

supply chain software solutions Supply Chain Optimization Suppliers Supply Chain Efficiency 130

Procurement Tactics

JULY 14, 2022

The organization does this to source for the suppliers that best match their requirements to provide their needs. The outline of the agreement sets out the terms on price, quantity, and quality. Request for information is the next step after you know the quantity of the materials needed. . Request for information. LEARN MORE.

Procurement 130

Procurement Bidding Supply Chain Efficiency Contract 130

Supply Chain Game Changer

OCTOBER 2, 2022

Best sellers would be fulfilled and replenished in full case quantities. The rest of the products would be fulfilled and replenished in quantities as low as one for any individual store. At every workstation an employee would remove some quantity of its contents and put it into an outbound shipping box. The old products (ie.

Supply chain 92

Supply chain Quantity Supply Strategy 92

Supply Chain Game Changer

OCTOBER 5, 2022

In a well-managed warehouse, as a minimum, there are clear records of: · What is being (and has been) stored · Exact location of the goods within the warehouse · Date the goods arrive · Where the goods arrived from · How long the goods have been at the warehouse · Quantity of individual items stored. The equipment is fully utilised.

Supply Chain Efficiency 95

Supply Chain Efficiency Warehouse operations Order Fulfillment Quantity 95

TYA Suite

NOVEMBER 25, 2024

What is strategic sourcing and how does it work? Strategic sourcing is a method used by businesses to buy goods and services in a way that focuses on long-term value, not just short-term savings. Unlike traditional sourcing, which usually aims to find the lowest cost option and looks at the bigger picture.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

Procurement Tactics

AUGUST 22, 2022

Negotiating the costs with the supplier, even if it is small in quantity, can result in savings of 20 to 30% of the total indirect spending of an organization. To identify your tail spending, you will need to retrieve your spending data from all sources so you can analyze it. How to Manage the Tail Spend. Identify your tail spending.

Purchasing 130

Purchasing Suppliers Negotiation Spend management 130

IBM Supply Chain Blog

MAY 9, 2023

The emergence of transformers and self-supervised learning methods has allowed us to tap into vast quantities of unlabeled data, paving the way for large pre-trained models, sometimes called “ foundation models.” But this is starting to change. ” These large models have lowered the cost and labor involved in automation.

Data 128

Data Quality Sourcing Quantity 128

Supply Chain Opz

JANUARY 7, 2013

Apple Inc purchases raw materials from various sources then get them shipped to an assembling plant in China. Some components are currently obtained from the single or limited sources. Ability to obtain components in sufficient quantities is important. Inventories can become obsolete or exceed the anticipated demand.

Supply Chain Efficiency 111

Supply Chain Efficiency supply chain software solutions Supply Chain Optimization Supply chain 111

SCMDOJO

OCTOBER 27, 2023

Volume or Quantity Negotiation: This negotiation involves discussing the quantity or volume of goods or services to be procured. Sustainability and CSR Negotiation: Negotiating terms related to sustainability, corporate social responsibility (CSR), and ethical sourcing. The platforms make it transparent.

Supplier negotiation 105

Supplier negotiation Negotiation Suppliers Supply Chain Efficiency 105

The Thomas Blog

AUGUST 2, 2022

That means zeroing in on what materials you want to work in, what quantities and delivery schedules you’re best equipped for, and so on. Know your high and low (or no) margin jobs, and then communicate the expertise and equipment that will maximize your returns.

Buyers 144

Buyers Quality Ethics Export 144

World of Procurement blog

APRIL 23, 2024

Sustainability and ethical sourcing are becoming increasingly important in procurement decisions, with many companies committing to environmentally friendly and socially responsible sourcing practices. Supplier Research and Selection : Finding reputable suppliers who can provide the right quality and quantity at the right price.

Procurement 52

Procurement Inventory control supply chain budgeting Real-time Visibility 52

World of Procurement blog

APRIL 23, 2024

Sustainability and ethical sourcing are becoming increasingly important in procurement decisions, with many companies committing to environmentally friendly and socially responsible sourcing practices. Supplier Research and Selection : Finding reputable suppliers who can provide the right quality and quantity at the right price.

Procurement 52

Procurement Inventory control supply chain budgeting Real-time Visibility 52