ivalua

JUNE 6, 2019

For Chassis Brakes, the first step to manage their spend was supplier consolidation: reducing direct spend suppliers from 12,000 to 6,000 (with an eventual goal of 2,000) and indirect spend suppliers from 10,000 to 4,000. Why they found it absolutely necessary to organizationally separate sourcing from procurement.

Suppliers 100

Suppliers Supplier consolidation Supply Chain Efficiency Data 100

Procurement Insights

MARCH 23, 2025

Savings Potential: 5-10% via automation and strategic sourcing. Reason: High spend and supplier diversity offer substantial savings, critical for production uptime. This could involve more aggressive supplier consolidation, advanced digital procurement tools, or strategic renegotiation of contracts across multiple categories.

Supplier consolidation 52

Supplier consolidation Supply Chain Optimization Logistics Strategic sourcing 52

Jaggaer

MARCH 20, 2025

But for procurement leaders, this lack of spend visibility across categories leads to missed cost-saving opportunities through supplier consolidation, volume leverage, and negotiated discounts. Decentralized buying often results in fragmented contracts with inconsistent pricing and terms.

supply chain budgeting 52

supply chain budgeting Procurement Budget Supply Chain Efficiency 52

Una

OCTOBER 25, 2022

When it comes to improving procurement efficiency, though, a sourcing hero’s work is never truly done. Instead of sitting back, the profession must make a long-term and ongoing commitment to sharpening its sourcing processes. Consolidate your supplier lists. Increase procurement efficiency by sourcing locally.

Supply Chain Efficiency 105

Supply Chain Efficiency Procurement Purchase orders Real-time Visibility 105

World of Procurement blog

MAY 8, 2024

Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. What is Procurement?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Una

JULY 26, 2022

In turn, this opens the door to huge cost savings through the identification and management of maverick spend , supplier consolidation, and the ability to spot patterns and extract insights that will lead to better purchasing decisions. Una’s team of Sourcing Advisors is here to help. Get in Touch. Schedule a meeting here.

supply chain software solutions 98

supply chain software solutions Supplier consolidation Purchasing Contract 98

Procurement Heads

JUNE 28, 2022

I do think there is one angle that is interesting to see how it is going to play out and that is the combination of innovation and responsible, environmental, ethical sourcing. Commercial functions are beginning to see the benefits of being really specific with suppliers.

Chief Procurement Officer 130

Chief Procurement Officer Supply Chain Optimization supply chain budgeting Innovation 130

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

Jaggaer

OCTOBER 24, 2024

Pressuring suppliers to cut prices often leads to reduced quality or service levels, which may result in costly product recalls, lost customers, or damage to the company’s reputation. By building trust and transparency, procurement leaders can work with suppliers to achieve cost savings that are sustainable and equitable.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Supply Chain Game Changer

JANUARY 9, 2019

Further analyzing that spend can help you determine opportunities for implementing cost savings practices like supplier consolidation, strategic sourcing , and standardization. If we buy a customized product from a single source how will you know if the price is fair? How do you interact with the supplier?

Procurement 68

Procurement Purchasing Negotiation supply chain software solutions 68

Skill Dynamics

JULY 19, 2024

Environmentally friendly practices, such as ethical sourcing or moving towards net zero, are now not just preferred but expected. Look for cost-saving initiatives such as bulk purchasing, supplier consolidation, and process optimization.

Procurement strategies 90

Procurement strategies Strategy Procurement supply chain budgeting 90

Empowering CPO

JUNE 26, 2023

Strategic Sourcing: By analyzing spending patterns, healthcare organizations can identify opportunities for strategic sourcing. This involves optimizing supplier selection, negotiating favorable contracts, and leveraging volume discounts, resulting in cost savings without compromising quality.

supply chain budgeting 52

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

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

Empowering CPO

JUNE 22, 2023

Understanding Spend Analysis Spend Analysis is an integral part of strategic sourcing and procurement. The primary aim of this process is to decrease procurement costs, enhance efficiency, improve supplier performance, and ensure compliance. This helps in identifying spending patterns and areas for potential savings.

Sustainability 52

Sustainability Procurement Supplier consolidation Supply Chain Efficiency 52

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. While valuable, past trends can’t always predict the future.

Real-time Visibility 52

Real-time Visibility Supplier consolidation Suppliers supply chain software solutions 52

Empowering CPO

JUNE 20, 2023

It’s a strategic pillar that underpins effective procurement and sourcing, providing an insightful lens through which organizations can view their spending patterns. Spend analysis plays a vital role in procurement and strategic sourcing. Strategic Focus High, as it directly impacts the company’s core offerings.

Supplier consolidation 40

Supplier consolidation Negotiation Suppliers Spend management 40

HICX

JULY 13, 2023

These tools aimed to streamline collaboration, provide a single source of truth, and simplify data exchange between users. In the session, Stephane focuses on the one portal for suppliers, Supplier Central. As Stephane puts it, “The process to manage our supplier before was very slow.

Suppliers 52

Suppliers Procurement Collaboration Procurement team 52

Una

FEBRUARY 22, 2023

GPOs leverage the collective buying power of their members to obtain volume discounts from suppliers and vendors. This method of sourcing motivates the suppliers to give GPO members discounted pricing, resulting in unprecedented savings.

Strategy 52

Strategy Purchasing Supply Chain Efficiency Supplier consolidation 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. This supports strategic sourcing efforts. This maximizes value from sourcing partnerships.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

Empowering CPO

JUNE 27, 2023

It involves collecting, categorizing, and analyzing procurement data from various sources such as purchase orders, invoices, and contracts. Strategic Decision-Making: Armed with accurate spend analysis insights, organizations can make informed strategic decisions regarding supplier selection, contract negotiations, and procurement strategies.

Supplier relationship management 52

Supplier relationship management Suppliers Management Negotiation 52

Supply Chain Game Changer

NOVEMBER 26, 2018

With all of that considered Freight Management can be a source of competitive differentiation and an enabler of strong financial performance. Supplier Management. There have been no efforts at supplier consolidation or performance management. Having a smaller set of preferred suppliers is important.

Strategy 68

Strategy Management Real-time Visibility e2e 68

Planergy

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The process of tail spend analysis involves analyzing data from various sources, including supplier invoices, purchase orders, contracts, and other financial documents. This can make it difficult to track and manage.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Real-time Visibility supply chain software solutions 52

The Procuretech Podcast

OCTOBER 19, 2021

This is an e-sourcing tool, looking at some of the more tactical areas of sourcing. Whereas most e-sourcing tools tend to focus on strategic sourcing for highly complex tenders, MySupply focuses on the more straightforward sourcing requirements. Next up is Andreas Zimmermann, CEO of MySupply. Lhotse website.

Procurement 40

Procurement Negotiation Sourcing Procurement team 40

Supply Chain Game Changer

JANUARY 30, 2019

Supplier Base Compliance. During sourcing projects, compliance is a valued attribute from the side of a supplier. Relying on too few suppliers and not diversifying your sources creates a high risk of dependency, and potential further problems if one of them pulls out at the last moment” ( Schlosser 2018 ).

Procurement team 56

Procurement team Procurement Sustainability Suppliers 56

Empowering CPO

JUNE 25, 2023

Spend Analysis is a process where procurement data from various sources are collected, cleansed, categorized, and analyzed. Its purpose is to increase visibility of procurement spend, identify savings opportunities, improve operational efficiency, and monitor supplier performance. But what exactly is Spend Analysis?

supply chain budgeting 52

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

Empowering CPO

JUNE 20, 2023

This is achieved by employing advanced analytics tools and techniques that can handle the vast amount of data involved in analyzing numerous transactions from multiple suppliers. The process typically starts with data collection, where transaction data from various sources is gathered and consolidated.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Spend management Risk 40

Empowering CPO

JUNE 27, 2023

With this knowledge, organizations can foster stronger relationships, negotiate favorable contracts, and collaborate more effectively with suppliers to drive innovation and continuous improvement. The first component involves collecting data from various sources, such as procurement systems, invoices, contracts, and financial records.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40

The Procuretech Podcast

OCTOBER 5, 2021

Henning talks about the opportunities that a solution such as Lhotse can leverage existing data in your system to automate or semi-automate: Lhotse can integrate system data into existing processes to give relevant supplier recommendations based on internal and external data points.

Competitive bidding 40

Competitive bidding Bidding Buyers Procurement 40

Empowering CPO

JUNE 21, 2023

It enables businesses to track and manage their expenses more effectively, identify trends in spending, and uncover opportunities for strategic sourcing and vendor negotiation. Suppliers: These are the businesses or individuals providing goods or services to your company.

Purchase orders 52

Purchase orders Data Purchasing Suppliers 52

Una

FEBRUARY 18, 2025

Search for Cost Savings - spend analytics software can be used at the category level to identify waste, duplication, or supplier consolidation opportunities. Download Unas Complete Guide to Category Management for more insight as to how category management and strategic sourcing can benefit your organization.

Category management 40

Category management Strategy Management Procurement team 40

Procurement Software

MAY 30, 2023

Once you have a decent spend taxonomy in place, you can easily categorise your suppliers per category. Understanding which suppliers are critical vs. which ones are not will allow your indirect category management team to develop a supplier consolidation strategy. Good suppliers get complacent.

Procurement 52

Procurement Procurement team Purchase orders Contract 52

Empowering CPO

JUNE 20, 2023

The process of Spend Analysis can be broken down into four key components: Data Collection: This is the initial stage where all the procurement-related data is gathered from various sources including invoices, purchase orders, contracts, and card transactions. Our team then cleaned and normalized the data to ensure accuracy and consistency.

Supply chain management 40

Supply chain management Supply chain management supply chain budgeting Supply Chain Efficiency 40

Empowering CPO

JUNE 16, 2023

This comprehensive visibility into an organization’s spend data is the cornerstone of strategic sourcing and purchasing decisions. Data Collection: This initial stage involves gathering all procurement-related data from various sources within the organization.

Import 52

Import Procurement Supply Chain Efficiency Real-time Visibility 52

Claritum

AUGUST 23, 2019

million people are employed by 909,000 of these minority owned businesses (Source: www.mbda.gov). Tapping into these organisations, as part of your supplier network, has become an essential part of larger organisations strategies. Source unknown). 3 Achieving results with supplier diversity. 5 Tracking success.

Supply 36

Supply Agile and Lean Supply Chain Suppliers Contract 36

Planergy

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. While the main goal is to reduce costs and improve sourcing, it can also help improve supplier relationships, giving your organization a competitive advantage. How to gain visibility and control of your indirect spend.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Claritum

AUGUST 23, 2019

million people are employed by 909,000 of these minority owned businesses (Source: www.mbda.gov). Tapping into these organisations, as part of your supplier network, has become an essential part of larger organisations strategies. Source unknown). 3 Achieving results with supplier diversity. 5 Tracking success.

Supply 32

Supply Agile and Lean Supply Chain Suppliers Supply chain 32

Empowering CPO

JUNE 27, 2023

It allows organizations to understand their spending behavior, identify opportunities for consolidation and standardization, and ensure compliance with contract terms and negotiated pricing. Data Aggregation: Organizations consolidate data from multiple sources into a central repository or data warehouse.

Procurement 52

Procurement Real-time Visibility Supply Chain Optimization Procurement strategies 52