Procurement Tactics

SEPTEMBER 14, 2022

When you go out of a building, it is most likely that the trucks you are seeing use diesel as a fuel source since it is the most affordable option. Stakeholders engagement. Engaging with stakeholders allows you to identify relevant areas within your company that can generate positive and negative outcomes. .

Sustainability 178

Sustainability Logistics Raw materials Supply Chain Efficiency 178

Una

AUGUST 21, 2023

The Human Factor in Strategic Sourcing How to allow for the human factor in strategic sourcing to drive the success of procurement process optimization and cost efficiency efforts. Strategic sourcing in procurement would be so easy if people weren’t involved! The human factor in strategic sourcing But it’s never that simple.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Ethics 52

Procurement Templates

SEPTEMBER 14, 2023

Procurement, traditionally seen as a function focused on sourcing goods and services at the best possible prices, has now evolved into a strategic driver for sustainability. It has the potential to drive change throughout the entire supply chain, influencing how products are sourced, manufactured, and distributed.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

World of Procurement blog

MAY 8, 2024

It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. Stakeholders : Procurement involves multiple internal stakeholders across the organization. What is Procurement?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Insights

MARCH 2, 2024

Here are a couple of examples (and corresponding sources): Some of the items that are included in an IT budget are hardware, software, personnel, outsourcing, disaster recovery, and any occupancy costs associated with the support of the IT in the organization. Taxes, except value-added taxes, are also included.

Budget 81

Budget Stakeholder engagement Project management Sourcing 81

Spend Matters

OCTOBER 4, 2024

The changes come in conjunction with Zip’s expansion in broader procurement orchestration and into native source-to-pay capabilities, complementing its foundational intake management focus. AI-enabled invoice coding is also offered based on historical coding patterns within the organization for more accurate suggestions.

Sustainability 112

Sustainability Spend management Real-time Visibility Supply Chain Optimization 112

Spend Matters

DECEMBER 13, 2023

While technically accurate — intake in a nutshell is simply the initiation (and often subsequent tracking/workflow) of a request — the UX of a source-to-pay (S2P) suite’s intake is typically not as user-friendly or modern as that of a specialist.

Management 103

Management Stakeholder engagement Purchasing Sourcing 103

SCMDOJO

APRIL 26, 2023

Category management may involve the splitting of products (goods or items) or services or may relate to the dissecting of products or services by value, supplier, type, or volume into various categories to allow for easy management and sourcing. Sourcing decisions also play a role in the categorization of items or services.

Category management 108

Category management Management Supplier relationship management supply chain software solutions 108

Barkers Procurement

JANUARY 8, 2023

To manage categories successfully, you should respect several major principles of the practice: cross functional working, the use of facts and data, a strong supply market knowledge, open-ness to change and stakeholder engagement. When developing your category management strategy , you must have a comprehensive team of stakeholders.

Category management 52

Category management Management Market knowledge Stakeholder engagement 52

Spend Matters

JULY 24, 2023

In terms of technology architecture, the report offers in-depth accounts of a number of use cases, including: Active/strategic stakeholder engagement beyond tactical intake management. Ruthless automation of P2P and supply chain execution supporting an autonomous driverless organization.

supply chain budgeting 98

supply chain budgeting Budget Agile and Lean Supply Chain Risk 98

The Good Spending

AUGUST 23, 2022

This post attempts to provide the most comprehensive view on procurement value and practical methods of its realizations compared to many other web sources replicating slogans and mystifying logical and straightforward concepts. This is one of the most potent revenue generation sources in any sizable deal negotiation.

Procurement 98

Procurement supply chain budgeting Supply Chain Optimization Budget 98

ivalua

DECEMBER 6, 2022

With so many stakeholders engaged in the P2P process, one function must take the lead in preventing functional sub-optimization. In case a call-off against a contract by a requestor is not possible and a sourcing activity is required, I recommend centralizing these activities so that all spend goes through the hands of Procurement.

e2e 130

e2e Suppliers Procurement Contract 130

Procurement Software

SEPTEMBER 24, 2024

Sourcing Generative AI is revolutionising the first steps in the sourcing process, and has the potential to assist in evaluating bids too. This not only speeds up the sourcing process but also improves the accuracy and quality of decisions. For low-value and non-complex purchases, expect near-complete automation.

Procurement 52

Procurement Supplier relationship management Bidding Contract 52

The Procuretech Podcast

AUGUST 6, 2024

AI can automate many tactical tasks, such as spend analytics, sourcing, supplier management, and contract reviews, reducing the operational workload. Despite the efficiency AI brings, it cannot replace the essential soft skills required for effective supplier management and stakeholder engagement.

Category management 40

Category management Management Stakeholder engagement Contract management 40

IBM Supply Chain Blog

DECEMBER 13, 2023

It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. This enables an effective and adaptive approach to sourcing that creates value and minimizes risk. Some may not agree with the proposed changes.

Procurement strategies 65

Procurement strategies Strategy Procurement Agile and Lean Supply Chain 65

Una

OCTOBER 26, 2023

From being seen as a compliance-related cost-center, ESG is now understood as a source of potential value generation. Stakeholder engagement The procurement function can’t shift the dial on ESG alone. Cultivate relationships within your professional network to enhance your stakeholder engagement abilities.

Management 52

Management Procurement Supply Chain Efficiency Stakeholder engagement 52

The Good Spending

MAY 13, 2024

Was there any SRM or stakeholder engagement? My Udemy course "Adaptive Sourcing: Agile Procurement in Practice." It represents 23 years of experience, billions of dollars worth of successful sourcing projects, and 1000s hours spent on research, analysis, and content creation for the most demanding professional readers.

Procurement 64

Procurement Contract Stakeholder engagement Negotiation 64

Una

JANUARY 9, 2023

This can’t be overstated; having a project management system in place to help you track stakeholder engagement and project execution will go a long way towards creating a positive change for the organization. . Informed: the executive(s) who maybe isn’t involved, but you need to inform about project progress. Share on Social.

Management 97

Management Spend management Purchasing Procurement team 97

Procurement Heads

APRIL 5, 2023

So, they had created this whole business case, and they started talking about what was possible from a procurement perspective but had missed the whole point about stakeholder engagement and business requirements going forward. What are the biggest challenges faced at the moment and how do you think interims can help with those?

Procurement 130

Procurement Agile and Lean Supply Chain Supply Chain Efficiency Collaboration 130

Procurement Heads

APRIL 5, 2023

So, they had created this whole business case, and they started talking about what was possible from a procurement perspective but had missed the whole point about stakeholder engagement and business requirements going forward. What are the biggest challenges faced at the moment and how do you think interims can help with those?

Procurement 130

Procurement Agile and Lean Supply Chain Supply Chain Efficiency Collaboration 130

The Procuretech Podcast

OCTOBER 10, 2023

The second section focuses on procurement technology trends, including generative AI's potential role in source-to-pay and procure-to-pay processes. Digitisation and sustainability are also explored, with James suggesting that sustainability initiatives present an opportunity for procurement professionals to secure investment into technology.

supply chain software solutions 40

supply chain software solutions Stakeholder engagement supply chain budgeting Supply Chain Efficiency 40

Pipefy

MAY 29, 2024

Common reasons for rejecting a change include: Poor change design Inadequate communication Lack of stakeholder engagement Insufficient training Some proposed changes may be poorly designed, but even well-designed transitions can be rejected because they do not solve their intended issues.

Change management 52

Change management Management Real-time Visibility Stakeholder engagement 52

Una

NOVEMBER 29, 2023

Strategic sourcing Invest in strategic sourcing by thoroughly analyzing your organization’s procurement needs and identifying opportunities for cost savings, quality improvements, and risk mitigation. Collaborate with these stakeholders to understand their needs, priorities, and expectations.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Supplier relationship management Strategic sourcing 52

IBM Supply Chain Blog

NOVEMBER 30, 2023

Talent acquisition refers to the ongoing strategy and process an organization and its HR department uses to source, attract, evaluate, hire and retain the highly-qualified new employees it needs to grow. Leverage targeted sourcing A diverse range of sourcing channels can effectively connect with a wider pool of potential candidates.

Strategy 61

Strategy Sourcing Leadership Networking 61

Empowering CPO

MAY 4, 2023

With the growing emphasis on sustainability, ethical sourcing, and digital transformation, procurement is no longer just about cost reduction; it’s an essential function that can provide a strategic advantage to modern businesses. This alignment can be achieved by: 1.

Procurement 52

Procurement Procurement strategies Cost of ownership Supply Chain Efficiency 52

NLPA (Next Level Purchasing Association)

OCTOBER 16, 2024

Ready to improve your stakeholder management skills? Explore our courses for advanced techniques and tools to elevate your procurement expertise.

Supplier relationship management 52

Supplier relationship management Leadership Strategy Procurement 52

IBM Supply Chain Blog

AUGUST 2, 2023

An observability solution offers valuable insights to multiple stakeholders engaged in software development and operations, with benefits that extend to developers, operations teams, product managers and even business stakeholders.

Real-time Visibility 55

Real-time Visibility Import e2e Product management 55

TYA Suite

JULY 17, 2024

Relies on manual processes for sourcing, negotiation, and Focuses on cost reduction through competitive bidding and bulk purchasing. Prioritizes environmental, social, and ethical considerations in supplier selection and sourcing decisions. Limited use of technology and digital tools in procurement operations.

Procurement strategies 40

Procurement strategies Strategy Supply Chain Efficiency Procurement 40

The Procuretech Podcast

OCTOBER 12, 2022

That becomes a very interesting stakeholder engagement learning experience. Sourcing people can now achieve in days what might have taken months in the past. That's not doing anything for the sourcing profession. That becomes a very interesting stakeholder engagement learning experience.

supply chain budgeting 40

supply chain budgeting supply chain software solutions Supply chain Supply 40

Claritum

JUNE 13, 2019

Stakeholder engagement. Knowledge of technology impact on sourcing (innovation opportunities). Knowledge of technology impact on logistically how and physically what you are sourcing (innovation opportunities). Multiple / global sourcing of critical components. Risk Management. Securing Procurement Talent.

Procurement 32

Procurement Supply Chain Efficiency Raw materials supply chain software solutions 32

Supply Chain Trend

DECEMBER 19, 2016

Many of them were addressed by the other authors in this series, including executive sponsorship, stakeholder engagement process understanding, vision and ownership. This process would create both tactical and strategic sources of value. In larger companies, one other factor limits the maturity of S&OP processes.

supply chain software solutions 60

supply chain software solutions supply chain budgeting Innovation Budget 60

TYA Suite

NOVEMBER 25, 2024

This concept goes beyond just the cost and quality of products; it involves analyzing the entire lifecycle of what is being purchased—from sourcing raw materials to disposal. This approach involves analyzing the entire supply chain to ensure that products are sourced, produced, and disposed of in ways that are ethical and eco-friendly.

Sustainability 40

Sustainability Import Supply Chain Efficiency Procurement 40

Empowering CPO

JUNE 27, 2023

Data Integration and Visibility: Connecting disparate data sources, such as procurement systems, supplier databases, and financial records, to create a centralized and holistic view of procurement activities. This enables better analysis, identification of trends, and informed decision-making.

Real-time Visibility 40

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

Empowering CPO

JUNE 26, 2023

Strategic Sourcing: By analyzing spending patterns, healthcare organizations can identify opportunities for strategic sourcing. Maverick Spend Reduction: Maverick spend, which refers to unauthorized or uncontrolled purchasing outside of established procurement processes, can be a significant source of inefficiency and increased costs.

supply chain budgeting 52

supply chain budgeting Supply Chain Optimization Supply Chain Efficiency Supplier consolidation 52

Procurement Software

APRIL 9, 2024

Like it or not, part of a successful stakeholder engagement strategy is marketing. Something which helps me with strategic sourcing or contract management would probably be my next step. So, my last employee is going to be an Admin Assistant. This person will also have some experience with internal comms and content marketing.

Category management 40

Category management Procurement supply chain budgeting Budget 40

Spend Matters

NOVEMBER 21, 2023

Last month, I presented at a customer advisory board (CAB) session that Fairmarkit invited me to join to present on stakeholder engagement and alignment. no-code/low-code) and process orchestration within/beyond source-to-pay. Although CLM seems to be the hottest area right now for GenAI (i.e.,

Strategy 111

Strategy Bidding Sourcing Stakeholder engagement 111

Procurement Insights

SEPTEMBER 6, 2024

What this means is that intake and orchestration – or as we called it a couple of decades ago, “stakeholder engagement within a Metaprise” is driven by empowering people to communicate and collaborate in a decentralized world on a real-time basis.

Stakeholder engagement 64

Stakeholder engagement Procurement Contract Collaboration 64