Supply Chain Game Changer

JANUARY 9, 2019

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. Further analyzing that spend can help you determine opportunities for implementing cost savings practices like supplier consolidation, strategic sourcing , and standardization. Subscribe Here!

Procurement 68

Procurement Purchasing Negotiation supply chain software solutions 68

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

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 26, 2023

Fragmented Supply Chains: The healthcare supply chain is complex and often fragmented, involving multiple stakeholders such as manufacturers, distributors, and group purchasing organizations (GPOs). Supplier Collaboration: Spend analysis fosters collaboration with key suppliers.

supply chain budgeting 52

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

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

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

Planergy

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Pareto Spend Analysis is an incredibly useful tool for optimizing supply chain management processes, reducing costs, and improving overall efficiency. 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

TYA Suite

AUGUST 6, 2024

The essence of SRM lies in recognizing the interdependence between an organization and its suppliers. By fostering collaboration and communication, businesses can optimize supply chain efficiency, reduce costs, and enhance product quality. Suppliers can be a valuable source of innovation.

Supplier relationship management 40

Supplier relationship management Suppliers Import Management 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

Empowering CPO

JUNE 27, 2023

Risk Mitigation: Category spend analysis helps identify potential risks associated with suppliers, such as single-source dependencies, supplier stability, or non-compliance issues. By proactively addressing these risks, organizations can minimize disruptions and ensure a reliable supply chain.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40

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. Risk Mitigation and Compliance: Spend analysis provides insights into potential risks associated with suppliers, contracts, and regulatory compliance.

Procurement 52

Procurement Real-time Visibility Supply Chain Optimization Procurement strategies 52