SCMDOJO

FEBRUARY 21, 2025

The right procurement strategy ensures that organizations: Mitigate risks before they escalate. Build strong supplier partnerships for long-term stability. This is why having a strong procurement strategy is criticalit ensures business continuity, cost control, and risk mitigation in times of uncertainty.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 59

Spend Matters

MARCH 25, 2025

Legal teams emphasize regulatory compliance, contract enforcement and risk mitigation. Suppliers and external partners contribute another layer of complexity, as they rely on procurement systems for seamless onboarding, data accuracy and operational efficiency. IT departments prioritize system integration, security and usability.

Stakeholder engagement 70

Stakeholder engagement Management Procurement Influencing 70

Let's Talk Supply Chain

FEBRUARY 27, 2025

Hear are some strategies to consider: Supplier Negotiations: Regularly ‍review and renegotiate contracts ‍with suppliers to secure better pricing terms. Diversification: Diversify your supplier base to spread risk and take advantage of different pricing structures.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain Demand 52

Procurement Insights

APRIL 3, 2025

FlockScore FlockScore appears to focus on supplier evaluation and risk management, though specific details about its offerings are less widely documented. Based on its name and typical ProcureTech trends, it likely emphasizes scoring or ranking suppliers to improve procurement decisions.

Supply Chain Efficiency 52

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

Procurement Insights

MARCH 16, 2025

Smart Supplier Recommendations & Risk Analysis AI models track historical supplier interactions, contract performance, and risk factors to provide real-time recommendations. MCP ensures that previous supplier evaluations, compliance issues, and sustainability scores are factored into ongoing sourcing decisions.

Supply Chain Optimization 52

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency Bidding 52

Procurement Tactics

MAY 30, 2023

This ensures that the organization gets value for its money and avoids the risks of poor-quality products. Procurement managers are responsible for identifying and mitigating risks associated with procurement. They minimize potential negative impacts on the organization, such as supply chain disruptions or supplier bankruptcy.

Management 178

Management supply chain budgeting Procurement Negotiation 178

SCMDOJO

MARCH 12, 2025

Evaluating dependency levels, such as the percentage of business a supplier relies on, can determine how much leverage each side holds. Compromising negotiation is a strategy where both parties make concessions to reach a mutually acceptable solution. Checkout the SCMDOJO course on Negotiation Tricks & Pitfalls. 10.13140/RG.2.2.27917.87528.

Negotiation 52

Negotiation Supply Chain Efficiency Supply chain Strategy 52

Procurement Templates

APRIL 15, 2024

In procurement, they might be more inclined to adopt innovative solutions or new suppliers that offer unique products or services. Risk-taking: High openness can also lead to a greater willingness to take calculated risks. This might mean trying out new vendors or negotiating non-traditional contracts to achieve better results.

Influencing 130

Influencing Negotiation Risk Innovation 130

Procurement Tactics

JUNE 28, 2023

It enables managers and businesses to minimize costs, prevent and mitigate risks, and essentially identify issues and problems early on in the procurement process. Compliance and Risk Management Throughout the procurement process, monitoring compliance with the applicable legislation and regulations is crucial.

Supply Chain Efficiency 178

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

Procurement Insights

JANUARY 3, 2025

20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. Analytics and insights from procurement data were minimal.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

Procurement Templates

MARCH 3, 2024

Risk Assessment : Identifying potential risks associated with procurement activities is essential for effective planning and mitigation. Risks may include budget constraints, supply chain disruptions, quality issues, legal compliance, etc. Assess supplier performance, capabilities, reliability, and overall value delivered.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Una

APRIL 6, 2023

Benefits realization in procurement Without monitoring contract compliance and supplier performance over time, the monetary and other benefits you worked so hard to secure throughout the supplier negotiation can be seriously eroded. What exactly is benefits realization?

Procurement 97

Procurement Supplier relationship management Supplier negotiation Contract 97

Una

NOVEMBER 16, 2022

The centralized procurement team scopes out the project, approaches the market, evaluates suppliers , negotiates a volume discount, and awards the contract to a single supplier. Better communication and relationships with suppliers. Improved supplier risk management. Multiple contact points for suppliers.

Procurement 98

Procurement Purchasing Procurement team Supplier negotiation 98

Jaggaer

FEBRUARY 5, 2025

Digital S2P platforms provide real-time insights into supplier performance, contract compliance, and spending patterns. This transparency enables organizations to make informed decisions, mitigate risks, and ensure accountability. Suppliers, in turn, benefit from improved demand forecasting and operational predictability.

Supply Chain Efficiency 52

Supply Chain Efficiency Sourcing e2e Real-time Visibility 52

Una

MARCH 6, 2023

Procurement process automation can involve anything from automated supplier discovery, risk monitoring, payment processing, spend analytics , and contract approval. The exciting part is that automation frees up your team for big-picture projects, supplier relationship management, strategic planning, and continuous improvement.

Purchasing 98

Purchasing Innovation Agile and Lean Supply Chain Supplier relationship management 98

ivalua

MARCH 9, 2023

S2P is the end-to-end process that encompasses all the activities between an organization and its suppliers. It starts with identifying the right suppliers for a need, sharing requirements and evaluating supplier offers, selecting the most appropriate supplier, negotiating terms and contracting with them to receive goods and/or services.

Sourcing 130

Sourcing Real-time Visibility e2e supply chain software solutions 130

SCMDOJO

DECEMBER 14, 2023

Task-Specific Services: Primarily involved in tasks like supplier identification, negotiation, and quality control. Comprehensive Services: Offers a broader range of services, including market research, logistics coordination, and risk mitigation. When do you need the Sourcing Agency?

Sourcing 104

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

ivalua

OCTOBER 8, 2021

Rather than relying on store managers to navigate local purchases, Procurement can add value by organizing the effort, evaluating and sourcing local suppliers, negotiating best pricing and delivery options, and automating the process by using technology to simplify inventory management at the local level. Attack GNFR Spend.

Procurement 130

Procurement Supply Chain Optimization Procurement team Purchasing 130

Una

MARCH 30, 2023

On the other hand, a CPO who reports directly to the CEO is more likely to align their team’s activities with a wider array of business goals such as risk reduction, sustainability, and diversity targets. This can involve diversifying suppliers, developing contingency plans, and implementing quality control measures.

Procurement 104

Procurement Supply Chain Efficiency Procurement team Sustainability 104

Finale Inventory

FEBRUARY 19, 2024

Businesses confront re-stocking, handling damaged goods, adjusting inventory inaccuracies, and navigating the risk of overselling during high-demand periods. Effective returns management enables cash flow management, financial reporting accuracy, strategic decision-making and forecasting, and improved supplier negotiations.

Inventory 105

Inventory Real-time Visibility Management Quality 105

Una

APRIL 13, 2023

Help suppliers understand your organization’s goals and strategy by inviting them to strategy days – this will enable them to come up with innovative ways to help you meet your goals. The more critical a supplier is to business continuity, the closer a supplier will need to be monitored.

Suppliers 98

Suppliers Supplier relationship management Agile and Lean Supply Chain Supply Chain Optimization 98

Una

NOVEMBER 8, 2023

Read More When Supplier Negotiations Come to a Standstill Supplier negotiations can break down for several reasons so knowing how to prepare head of time, and how handle differing viewpoints is key. Here are five steps procurement can take to risk-proof an organization against the impacts of an economic recession.

Procurement 52

Procurement Supplier negotiation Influencing Negotiation 52

Una

APRIL 25, 2023

While this should always be a core concern, an over-focus on cost can result in a significant portion of the week being spent on negotiating with suppliers, leaving little time for other activities. This involves vetting suppliers, conducting due diligence, and ensuring that all contracts are compliant with relevant regulations.

Procurement 94

Procurement supply chain budgeting Supply Chain Efficiency Contract 94

Una

JUNE 1, 2023

From supplier relationship management and global sourcing to risk assessment and sustainability initiatives, each day brings new hurdles to overcome. Luckily, procurement is a dynamic field that presents an ever-changing landscape of challenges and opportunities.

Procurement 98

Procurement supply chain budgeting Sustainability Negotiation 98

NLPA (Next Level Purchasing Association)

MARCH 16, 2023

We need to ensure that we are spending money effectively and efficiently to maintain our organization’s profitability.” NLPA Learning also includes learning resources, including live and on-demand webinars, publications and reports, articles, templates, white papers, and more!

Spend management 98

Spend management Management Procurement supply chain budgeting 98

SCMDOJO

DECEMBER 11, 2023

Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction. This may involve negotiating better terms with suppliers, consolidating purchasing volumes, or identifying more cost-effective alternatives, ultimately leading to significant savings.

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

Procurement Insights

DECEMBER 6, 2024

This lecture focuses on best practices in preparing for supplier negotiations, emphasizing the importance of cost transparency and strategic negotiation techniques. For a more in-depth understanding of Rod Sherkin’s insights on supply chain management and procurement, you can watch his interview on Supply Chain Now.

Supply Chain Efficiency 52

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

Una

NOVEMBER 1, 2022

Investing in procurement technology , team training, and supplier relationship management will have greater rewards than short-term selections based on the lowest price or aggressive supplier negotiations. It also helps procurement teams identify the most significant risk factors. Improved compliance. Not likely.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

SCMDOJO

APRIL 29, 2024

A well-managed supply chain enables businesses to respond swiftly to market demands, mitigate risks, and seize growth opportunities. Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation.

Supply chain management 98

Supply chain management Supply chain management Agile and Lean Supply Chain supply chain budgeting 98

SCMDOJO

MARCH 19, 2024

Risk Management The department can proactively identify and address potential risks in the supply chain, such as material shortages, natural disasters, or political instability. This translates to significant benefits of reduced costs, enhanced customer satisfaction, increased efficiency, and improved risk management.

Supply Chain Optimization 98

Supply Chain Optimization Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 98

Arkestro

OCTOBER 10, 2023

AI can help companies manage these and a host of other supply chain risks by analyzing factors like weather patterns, geopolitical events, and market dynamics. In this uncertain environment, supplier risk assessments play a key role in reducing supply chain disruptions.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 52

Jaggaer

JUNE 28, 2024

Our research shows that despite the strategic role procurement and supply chain teams play, these professionals remain underequipped, which presents a huge risk to organizations,” said Andy Hovancik, Chief Executive Officer at JAGGAER. Financial pressure remains red hot.

supply chain budgeting 52

supply chain budgeting Supply chain management Supply chain management Agile and Lean Supply Chain 52

Una

SEPTEMBER 22, 2022

Procurement, however, makes a strong case for managing IT purchasing because sourcing professionals are the experts when it comes to managing and reducing costs , implementing best practices, and mitigating risk throughout the buying process. Minimize Risk. Every IT tool or resource comes with at least a little bit of risk.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

SCMDOJO

JANUARY 17, 2024

They analyze risks and prepare strategies to mitigate supply chain disturbances. A load planner compiles customers’ orders into truckloads and plans delivery routes. In addition to these roles, planners often play a crucial role in emergency management. Their foresight is crucial in maintaining the smooth operation of the supply chain.

Supply chain management 98

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

IBM Supply Chain Blog

DECEMBER 13, 2023

By assessing and proactively managing risks inherent in the supply chain , organizations can shield themselves from disruptions and strengthen the resilience of their operations. This enables an effective and adaptive approach to sourcing that creates value and minimizes risk.

Procurement strategies 65

Procurement strategies Strategy Procurement Agile and Lean Supply Chain 65

TYA Suite

DECEMBER 16, 2022

Purchasing is concerned with the minimization of cost and procurement aims to mitigate risk, cost savings, relationship with suppliers, etc. Purchasing process doesn't have anything to do with the supplier relationship. The procurement process considers the suppliers as strategic partners.

Purchasing 52

Purchasing Procurement Eprocurement Cost of ownership 52

Procurement Express

FEBRUARY 15, 2025

This helps you identify cost-saving opportunities, track supplier performance, and ensure purchases align with financial goals. Identify overspending, track budget vs. actuals, and spot opportunities for better pricing or supplier negotiations. Stronger supplier relationships. Compliance and risk mitigation.

Procurement 40

Procurement Real-time Visibility Supplier negotiation Contract 40