Procurement Tactics

MAY 24, 2023

This ensures that all evaluators use the same standards when rating their interactions with the vendors. Benefits of Scorecards in Vendor Management Here are some of the benefits that you can gain by using scorecards: 1. Frequently asked questions + What is a vendor scorecard? What is the purpose of it?

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

ivalua

DECEMBER 20, 2019

Qualifying checks establish an understanding of the supplier’s business continuity planning and evaluates things like risk management policy, financial viability, quality controls, cloud security and performance tracking across your supply chain. How to Apply Qualifying Checks to Supplier Onboarding? Development and innovation sharing.

Suppliers 100

Suppliers Contract Vendor relationships Innovation 100

Supply Chain Game Changer

NOVEMBER 16, 2022

It helps bring predictability to Strategic Sourcing, automates Transactional Procurement (or P2P cycle), and enables proactive Supplier Risk Management. Improved Vendor Relationships. Today vendors have options and like to work with companies that value relationships. Risk management.

Supply Chain Efficiency 19

Supply Chain Efficiency Procurement Real-time Visibility Supply Chain Optimization 19

Spend Matters

MARCH 25, 2024

We recently spoke with Stuart Brock , founder and President of startup iKinetiq Innovation Solutions which helps procurement functions design the right strategy to optimize processes, gain deeper insights, and enable data-driven risk management with a focus on using AI technologies responsibly.

Procurement contracts 124

Procurement contracts Contract Procurement Negotiation 124

Procurement Tactics

AUGUST 19, 2022

This is important so that you will know if the vendors meet your standards. . Depending on their scorecard, the organization can retain them or replace them with a different vendor. . Risk management. This process involves evaluating potential risks that could negatively impact the organization. ENROLL NOW.

Vendor management 130

Vendor management Management e2e Negotiation 130

Supply Chain Game Changer

NOVEMBER 7, 2022

Strengthens Vendor Relationships. The success of your supply chain depends on managing your vendor relationships. If you can implement positive vendor relationships, you can gain access to the right products at a reasonable price.

supply chain budgeting 86

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Supply chain 86

Empowering CPO

JULY 17, 2023

By taking on the complexities of procurement, these services allow businesses to focus on their core competencies, while reaping the benefits of optimized supply chains, cost savings, and improved vendor relationships. Risk management is another key challenge. Enter EmpoweringCPO.

Management 52

Management Procurement Vendor relationships Supply Chain Efficiency 52

Procurement Leaders

JUNE 9, 2022

Tail spend management: The procurement team deployed tail spend solutions in over 60 markets to make vendor relationship management easier and more cost-effective. This is collected through a survey run twice a year. The company partnered with Candex and Amazon Business. Advice for others.

Category management 130

Category management Strategy Procurement Innovation 130

ivalua

APRIL 27, 2023

However that’s only part of the puzzle – strong vendor relationships are equally essential. As such, many organizations are increasing technology investments and digital transformation efforts to benefit from long-term cost savings and efficiencies.

Supply Chain Efficiency 130

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization Sustainability 130

ivalua

APRIL 27, 2023

However that’s only part of the puzzle – strong vendor relationships are equally essential. As such, many organizations are increasing technology investments and digital transformation efforts to benefit from long-term cost savings and efficiencies.

Sustainability 130

Sustainability Risk Supply Chain Efficiency Agile and Lean Supply Chain 130

IBM Supply Chain Blog

FEBRUARY 13, 2024

The cost of human error associated with manual processes can be steep, not to mention the toll it can take on trust within customer and vendor relationships. Technology that streamlines and automates transactions and contract management can significantly reduce these errors and expedite sourcing processes.

Strategic sourcing 78

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

TYA Suite

DECEMBER 16, 2022

This blog will help you understand the importance of the vendor management lifecycle including tips and tricks for effective vendor management. refers to the strategic approach that enables organizations to keep valuable vendor relationships under their control and hence improve resilience and drive success.

Vendor management 52

Vendor management Management Real-time Visibility supply chain software solutions 52

Supply Chain Game Changer

NOVEMBER 22, 2018

We affirm several of the same areas (Supply Chain, Risk Management, P2P, Innovation Driven Procurement, Contract Management, SaaS….), Risk Management. As we have witnessed in many organizations this year (from small, mid-sized, to large), we have seen many things take place.

supply chain budgeting 63

supply chain budgeting Procurement Supply Chain Efficiency supply chain software solutions 63

Pipefy

AUGUST 18, 2023

Procurement The complete visibility that process discovery provides makes it highly useful in procurement by allowing analysts to easily understand the value of purchases and vendor relationships. They can use data from previous sales and purchases to select preferred vendors.

Import 52

Import Real-time Visibility e2e Data 52

Empowering CPO

JULY 17, 2023

Risk Management Procurement is inherently fraught with risks, including supplier risks , market fluctuations, geopolitical issues, and natural disasters, among others. Managing these risks is crucial to maintain the stability and reliability of supply chains.

Procurement 40

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

Empowering CPO

JULY 17, 2023

Risk Management Procurement is inherently fraught with risks, including supplier risks , market fluctuations, geopolitical issues, and natural disasters, among others. Managing these risks is crucial to maintain the stability and reliability of supply chains.

Procurement 40

Procurement Management Supply Chain Efficiency Real-time Visibility 40

Planergy

JANUARY 19, 2024

Vendor analysis is crucial for risk management. As a procurement professional, you know the importance of ensuring that all materials and services delivered by vendors meet or exceed your standards for quality and performance. Taking your time throughout the process ensures you get the best possible match.

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

Arkestro

MARCH 27, 2024

Risk management: Evaluating and mitigating possible risks in the supply chain, including disruptions and quality issues. Time management skills: Since procurement involves managing multiple tasks at once, buyers must develop time management skills to meet deadlines and respond to changing priorities.

Buyers 52

Buyers supply chain budgeting Supply Chain Efficiency Procurement 52

Planergy

SEPTEMBER 2, 2022

How better management in AP can give you better flexibility for cash flow management. Best Practices & Tips Governance Risk Management & Compliance (GRC) Invoice Processing. Ways to spot procurement fraud include consistently mismatched invoices, unusually low bids, and employee/vendor relationships.

Risk 52

Risk Purchasing Risk management Vendor relationships 52

Pipefy

JUNE 14, 2023

Visibility into procurement categories and effective management of categories fosters benefits like greater risk management and less costly supplier redundancies. Visibility into procurement categories and effective management of categories fosters benefits like greater risk management and less costly supplier redundancies.

e2e 52

e2e Real-time Visibility Contract Procurement team 52

Planergy

JUNE 1, 2023

Download Free Copy Accounts Payable Policy: What Is It, Best Practices, and an Example Template Written by Mary Girsch-Bock 20 min read Best Practices & Tips Governance Risk Management & Compliance (GRC) Invoice Processing Download PDF IN THIS ARTICLE What Is an Accounts Payable Policy? What Is the Typical AP Process?

Purchase orders 52

Purchase orders Purchasing Suppliers Import 52

Procurement Software

MARCH 11, 2022

No clear understanding of the extent of maverick spend – i.e. the % of total spend which is not being managed by a procurement professional. Preferred – The vendor could be replaced but it will be costly or risky to do so. Extracting yourself from the existing vendor relationship will require a detailed exit strategy.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Category management Data 52

Procurement Software

MARCH 11, 2022

No clear understanding of the extent of maverick spend – i.e. the % of total spend which is not being managed by a procurement professional. Preferred – The vendor could be replaced but it will be costly or risky to do so. Extracting yourself from the existing vendor relationship will require a detailed exit strategy.

supply chain software solutions 52

supply chain software solutions Real-time Visibility Category management Data 52

Procurement Software

JUNE 20, 2023

Trakti accelerates your contractual flow and integrates the deployment of smart contracts for payment automation and obligation management, all thanks to the power of the blockchain. Terzo Terzo is a vendor relationship platform focusing on contract lifecycle management (CLM).

Contract management 52

Contract management Contract e2e Management 52

Planergy

APRIL 19, 2023

The accounts payable department must be able to address inquiries, manage invoice disputes , and forward concerns to the relevant department quickly to maintain quality vendor relationships. Accounts Payable Reporting Accounts payable reporting is an important part of accrual accounting.

Purchasing 52

Purchasing Suppliers Contract Risk 52

Pipefy

JANUARY 5, 2023

Manual tasks take up time that could be better spent on value-producing activities such as price negotiations or vendor relationship management. Ariba helps organizations manage an array of procurement functions including. supplier management, strategic sourcing, and direct spend. Supplier risk management.

Procurement 52

Procurement Procurement team supply chain software solutions e2e 52

Pipefy

MAY 9, 2023

The success of these activities directly affects vendor relationships, customer satisfaction, and revenue. The ongoing successful use of data to drive decision-making and risk management creates what is known as a data-driven culture.

Procurement 52

Procurement Real-time Visibility supply chain budgeting Procurement team 52

The Good Spending

NOVEMBER 4, 2024

Procurement’s role, however, centers around savings, cost efficiency, and risk management. Furthermore, procurement contributes beyond financial savings; it mitigates risk, ensures compliance, maintains vendor relationships, and supports continuity in vital yet challenging to quantify ways.

Procurement 59

Procurement Contract Vendor relationships Procurement team 59