Procurement Insights

NOVEMBER 21, 2023

EDITOR’S NOTE: In December 2010, I wrote an article about one of Time Magazine’s picks for the Top Innovations in 2008 – Made-in-Transit Packaging. I obviously think what EiKO is doing regarding process visibility is great – kudos to the company for its progressive customer-centric thinking.

e2e 78

e2e Real-time Visibility Sourcing Consumer demands 78

Supply Chain Game Changer

SEPTEMBER 5, 2022

Supply Chain Visibility – An Overcomplicated Challenge! A recent Deloitte survey estimated only 15% of CPO’s have visibility beyond their tier one suppliers. I found this striking that there is so little multi-tier Supply Chain visibility. Visibility comes at a cost – one we’ve spoken about before: trust.

Supply Chain Visibility 95

Supply Chain Visibility Real-time Visibility Supply Chain Efficiency supply chain budgeting 95

Una

FEBRUARY 19, 2024

Why Do We Need Supply Chain Visibility? Supply chain visibility is a critical factor for organizations aiming to mitigate risks, optimize processes, and capitalize on opportunities. But why does achieving comprehensive visibility remain a pressing challenge for so many businesses? Why is visibility so important?

Supply Chain Visibility 52

Supply Chain Visibility Real-time Visibility Supply Chain Optimization Supply chain 52

ivalua

JUNE 29, 2021

Enabling rapid, cost-effective and transparent supplier payments anywhere in the world. Redwood City, CA, June 30, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its source-to-pay platform with a new payments solution to digitize and streamline global supplier payments.

Supply Chain Efficiency 130

Supply Chain Efficiency Suppliers Sourcing Real-time Visibility 130

Finale Inventory

FEBRUARY 19, 2024

For customers, inadequate customer support leads can lead to delays, extending the time for processing and refunds. Businesses confront re-stocking, handling damaged goods, adjusting inventory inaccuracies, and navigating the risk of overselling during high-demand periods. But how do you get to why a customer initiated a return?

Inventory 105

Inventory Real-time Visibility Management Quality 105

NLPA (Next Level Purchasing Association)

MAY 8, 2023

Supply chain visibility is essential for successful procurement, as it enables businesses to proactively manage risks and optimize their supply chain. Whether it’s due to natural disasters, supplier bankruptcy, or transportation delays, disruptions can cause significant challenges for businesses.

Supply Chain Visibility 52

Supply Chain Visibility Real-time Visibility supply chain budgeting Supply Chain Optimization 52

SupplyShift

MARCH 27, 2023

STANDARD ASSESSMENT Supplier ESG Assessment A social, environmental and business ethics performance assessment for your suppliers. Raise awareness, understand supplier risks, and continually improve conditions in your supply chain. Simply load your suppliers and start assessing.

Suppliers 52

Suppliers Real-time Visibility Ethics Supply chain 52

Supply Chain Game Changer

APRIL 7, 2020

In the midst of the Coronavirus pandemic the need for complete, end to end Supply Chain visibility has never been more important! The necessity for visibility started with store shelves being emptied of toilet paper , food, and various household items. Supply Chain visibility and the Digital Supply Chain has never been more important!

Supply Chain Visibility 88

Supply Chain Visibility e2e Real-time Visibility supply chain software solutions 88

SupplyShift

MAY 30, 2023

STANDARD ASSESSMENT Conflict Minerals Supplier Assessment Assessment based on the Conflict Minerals Reporting Template by the Responsible Minerals Initiative (RMI). Simply load your suppliers and start assessing. The post Conflict Minerals Supplier Assessment appeared first on SupplyShift.

Suppliers 52

Suppliers Real-time Visibility Supply Chain Efficiency Supply chain 52

IBM Supply Chain Blog

JUNE 30, 2023

For the energy and utilities industry (E&U), time is not on their side. Equipment-heavy and reliant on an aging infrastructure, E&U clients suffer from costly supply chain disruptions as wear, tear and time take their toll. Visibility. However, maintenance inventory optimization is only part of the solution.

e2e 66

e2e Supply Chain Visibility Real-time Visibility supply chain budgeting 66

Finale Inventory

APRIL 18, 2024

To set your Amazon business up for success, one of the main areas to focus on is inventory: the flow, the costs, the timing of it all. Amazon’s recent introduction of low inventory fees is a key development you need to be aware of. This key timing (the time between placing an order and receiving inventory) is crucial.

Inventory 52

Inventory Real-time Visibility Strategy Demand 52

Una

AUGUST 17, 2022

The figure’s head represents the top 1% of strategic suppliers to your organization. This is where strategic sourcing professionals spend most of their time, communicating directly with their top suppliers through an SRM program , and using cutting-edge procurement software to analyze spend and track risk.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

ivalua

FEBRUARY 10, 2023

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.

Price 264

Price Strategy Sourcing Real-time Visibility 264

SCMDOJO

APRIL 29, 2024

Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation. Efficient transportation systems minimize delays, reduce costs, and ensure timely delivery to customers.

Supply chain management 83

Supply chain management Supply chain management Agile and Lean Supply Chain Supply Chain Optimization 83

ivalua

DECEMBER 16, 2015

For manufacturers, key functions such as sourcing and supplier management have become more challenging as the result of increasing supply chain complexity. One area that manufacturers need to focus on is improving supply chain visibility. Visibility all the way up the supply chain. Visibility into supplier capacity.

Supply Chain Visibility 124

Supply Chain Visibility Real-time Visibility Supply chain Supplier capacity 124

IBM Supply Chain Blog

FEBRUARY 28, 2024

Because organizations with strategic sourcing mindsets look beyond price and cost savings-centered supplier selection initiatives. They consider factors—like supplier performance or sustainability —that support long-term partnerships, advance business needs and increase purchasing power.

Sourcing 106

Sourcing Strategy Supply Chain Efficiency e2e 106

SupplyShift

MAY 30, 2023

STANDARD ASSESSMENT Supplier Diversity, Equity, and Inclusion Assessment In partnership with taproot ventures, SupplyShift has developed a Supplier Diversity, Equity, and Inclusion Assessment for companies to better understand and advance diversity and inclusion in the supply chain. Simply load your suppliers and start assessing.

Suppliers 52

Suppliers Real-time Visibility Supply chain Supply 52

IBM Supply Chain Blog

MAY 1, 2024

For example, combining generative AI with technologies such as blockchain helps to keep data about the material-to-product transformation unchangeable across different entities, providing clear visibility into products’ origin and carbon footprint.

Supply Chain Optimization 87

Supply Chain Optimization Agile and Lean Supply Chain Supply Chain Efficiency Supply chain 87

Procurement Leaders

JANUARY 8, 2024

The results of the transformation were profound: a 50% reduction in the number of days to delivery, as well as much tighter financial controls and supplier visibility in a sector where “because it’s a matter of life and death, speed is of the essence”.

Real-time Visibility 130

Real-time Visibility Procurement Inventory Suppliers 130

Finale Inventory

MAY 16, 2024

A reorder point is the level of inventory you choose to indicate when it’s time to order new stock. Lack of minimum and maximum inventory. Safety stock , or min/max inventory, acts as a buffer against unexpected demand surges or supplier delays. Incorrect reorder points.

Real-time Visibility 52

Real-time Visibility Inventory Purchase orders Demand 52

Let's Talk Supply Chain

DECEMBER 4, 2023

Not having that visibility is a real challenge for organizations… getting the parts they need at the right time… and the ongoing labor issues.” 19.30] SDI’s advanced data analytics, and how they are driving actionable insights and visibility for customers, in order to de-risk supply chains and make big cost savings. “We

Supply Chain Optimization 52

Supply Chain Optimization Real-time Visibility supply chain budgeting Supply Chain Efficiency 52

EazyStock

AUGUST 28, 2023

As a cloud-based inventory optimization solution, EazyStock connects to your enterprise resource planning (ERP) or existing business system. It then automates those time-consuming and inaccurate manual inventory management processes. Manually calculating the EOQ is time-consuming and prone to errors in replenishment.

Real-time Visibility 52

Real-time Visibility Inventory Data Management 52

Procurement Tactics

JANUARY 23, 2023

By collecting data on routes, stock levels, drivers’ availability, vehicle tracking, and other pertinent information, a transport management system accurately forecasts expected delivery times while efficiently scheduling drivers accordingly.

Real-time Visibility 202

Real-time Visibility Management Supply Chain Efficiency supply chain budgeting 202

NLPA (Next Level Purchasing Association)

MAY 8, 2024

By examining past purchases, spend analysis helps identify high spending areas, categorize suppliers, and uncover hidden costs. This data can then be used to negotiate better deals with suppliers, consolidate purchases, and streamline procurement processes.

Real-time Visibility 52

Real-time Visibility Supplier consolidation Suppliers Collaboration 52

Procurement Tactics

MAY 22, 2023

The goal of integrated logistics is to optimize the entire supply chain by minimizing costs, improving efficiency, and ensuring timely delivery of products to customers. It also requires close collaboration and coordination among all the stakeholders in the supply chain, including suppliers, manufacturers, distributors, and retailers.

Logistics 207

Logistics supply chain software solutions supply chain budgeting Supply Chain Optimization 207

ivalua

AUGUST 26, 2015

In my last blog post , I talked about how the need for better supplier information was a dominant theme across the automotive industry, as well as for many other discrete manufacturers. The impact suppliers have on the products you make and sell, good and bad, is just too significant to be ignored. Here are three examples.

Suppliers 173

Suppliers Real-time Visibility Sourcing Quality 173

ivalua

FEBRUARY 27, 2023

One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which provide procurement with the tools needed to maximize the value they get from their supplier relationships, automate and streamline processes, and identify opportunities for cost savings. Let’s explore further.

Real-time Visibility 130

Real-time Visibility Procurement Agile and Lean Supply Chain supply chain budgeting 130

IBM Supply Chain Blog

JUNE 30, 2023

For example, the chip shortage has been a call to action for both original equipment manufacturers (OEMs) and suppliers. Monitor supply to minimize production delays and reduce the time needed for critical supply chain disruption management. Optimize maintenance inventory, increase reliability, and ensure production schedules are met.

supply chain budgeting 67

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Real-time Visibility 67

Arkestro

JULY 4, 2022

Supplier diversity is increasingly being recognized as a critical objective for procurement. From a societal viewpoint, organizations that achieve supplier diversity help address inequality and social injustice. While supplier diversity has many indisputable benefits, it is also easier said than done.

Suppliers 52

Suppliers Procurement Real-time Visibility Chief Procurement Officer 52

Procurement Software

MAY 14, 2024

By embracing a strategic approach to procurement, you can streamline operations, mitigate risks, and foster stronger supplier relationships. At the same time, an effective intake process ensures that end users are able to self-serve for their more transactional buying needs.

Procurement 52

Procurement Real-time Visibility e2e Chief Procurement Officer 52

SCMDOJO

AUGUST 16, 2023

The company has implemented sophisticated barcode scanning and point-of-sale systems to collect real-time data from its stores. By employing these technologies, Walmart gains valuable insights into customer buying behavior, sales trends, and inventory levels.

Supply Chain Efficiency 75

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization Supply chain 75

IBM Supply Chain Blog

FEBRUARY 19, 2024

Supply chain disruptions are caused by a variety of factors, from pandemics, natural disasters and political instability to supplier bankruptcy and IT failures. They need strong SCM practices to help work out the logistics of transporting goods across long distances and through multiple countries without creating longer lead times or delays.

supply chain software solutions 89

supply chain software solutions Supply chain management Supply chain management Supply Chain Efficiency 89

IBM Supply Chain Blog

AUGUST 5, 2021

Managing a diverse and agile supplier network is now a top priority in the auto industry and essential to remain competitive. Whether shifting to produce electric vehicles, dealing with the semiconductor shortage or mitigating everyday disruptions, the automotive OEM and aftermarket supply chains, live and die by their supplier network.

Collaboration 52

Collaboration Suppliers Agile and Lean Supply Chain Real-time Visibility 52

World of Procurement blog

MAY 10, 2024

Conducting market research : AI can scan the web to collect pricing information, identify potential suppliers, assess supplier reputations, and keep up-to-date with market and industry trends. One of the biggest challenges in procurement has been gaining visibility into exactly where money is being spent across the organization.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

ivalua

SEPTEMBER 19, 2022

Loss of sales and market share are the most visible and measurable impacts. Under pressure to quickly identify new sources of supply, due diligence has–at times been reduced, thereby increasing the likelihood of quality issues, unknowingly supporting forced labor, or exposing organizations to fraud.

Risk management 130

Risk management Supply Chain Efficiency Risk Supply Chain Optimization 130

Supply Chain Game Changer

SEPTEMBER 22, 2022

Choosing suppliers. After that, a request for a proposal gets sent out to potential suppliers. Then, the suppliers submit their bids and the company decides which one to hire. Spend Visibility. Spend visibility is a pretty big deal when it comes to procurement or any type of invoicing management for that matter.

supply chain budgeting 101

supply chain budgeting Real-time Visibility supply chain software solutions Procurement 101

Procurement Tactics

JUNE 19, 2023

Artificial intelligence is being used to automate routine and time-consuming work in warehouses such as packing and sorting of goods which helps to improve efficiency, reduce errors and costs. It is also used to improve the accuracy of demand forecasting, inventory management , and transportation planning.

Logistics 193

Logistics supply chain budgeting supply chain software solutions Real-time Visibility 193