Procurement Insights

JANUARY 3, 2025

Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.

Agile and Lean Supply Chain 52

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

Procurement Tactics

MAY 30, 2023

Procurement managers, also known as purchasing managers, supervise a company’s relationship with suppliers and the logistics of transportation. They manage the sourcing and purchasing of goods and services that the organization requires to operate effectively. Why Are They Important?

Management 178

Management supply chain budgeting Procurement Negotiation 178

SCMDOJO

APRIL 29, 2024

Are you interested in understanding how businesses effectively manage their supply chains? Look no further – this guide is here to help you grasp the fundamentals of supply chain management (SCM) and how it can lead to success. 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

FEBRUARY 26, 2025

Introduction As global supply chains evolve, ensuring cost efficiency is crucial. One way to assess the cost performance of any function within the supply chain is through Cost Performance Index (CPI). What is the Cost Performance Index (CPI)? A CPI of 0.83

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Raw materials 52

SCMDOJO

DECEMBER 14, 2023

In the global world of businesses, companies often seek help from sourcing agencies to figure out how to get the things they need. But what’s a sourcing agency or sourcing agent and how does it make buying things easier? Let’s explore this world of sourcing agencies and understand what they do.

Sourcing 104

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

SCMDOJO

MARCH 19, 2024

In today’s fast-paced business landscape, having an efficient supply chain department is more important than ever. A streamlined supply chain can make a significant impact on the overall success of a business, improving operational efficiency, increasing customer satisfaction, and driving revenue growth.

Supply Chain Optimization 98

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

Procurement Insights

MARCH 16, 2025

MCP ensures that previous supplier evaluations, compliance issues, and sustainability scores are factored into ongoing sourcing decisions. Improved Outcome: Procurement teams get context-aware supplier suggestions , reducing risk and improving supplier relationships.

Supply Chain Optimization 52

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency Bidding 52

Procurement Tactics

JUNE 28, 2023

Tracking Key Performance Indicators (KPIs), conducting supplier evaluations , and maintaining supplier scorecards can be a part of this process. This allows for the identification and implementation of measures to mitigate any delays or obstacles in the supply chain by organizations.

Supply Chain Efficiency 178

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

Procurement Insights

DECEMBER 6, 2024

” (Source: CEIBS ) I use The following process to determine if I want to advise, work with, or mentor a particular ProcureTech solution provider. ProPurchaser ** ProPurchaser** operates in the procurement intelligence and cost management sector, providing tools and data to assist supply chain professionals in negotiations.

Supply Chain Efficiency 52

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

Jaggaer

JUNE 28, 2024

Procurement and supply chain professionals are emerging as enterprise linchpins. 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.

supply chain budgeting 52

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

SCMDOJO

OCTOBER 7, 2024

The Global Supply Chain is thriving with each passing day. However, the game-changer is how Cost Efficiency and Cost Effectiveness play their role in the supply chain. Let’s learn the role of cost efficiency vs cost effectiveness! What is Cost Efficiency?

Supply Chain Efficiency 92

Supply Chain Efficiency Supply Chain Optimization Agile and Lean Supply Chain supply chain budgeting 92

Procurement Software

MAY 21, 2024

But, this then begs the question, what about negotiation? Could AI replace the need for procurement professionals in negotiations? AI, procurement and supplier negotiations: where is this going? None of them are budget tools, but they exist. So, will tactical spend and tactical negotiations be replaced by a robot?

Supplier negotiation 52

Supplier negotiation Negotiation Suppliers Procurement 52

Una

MARCH 6, 2023

Innovation” can simply mean finding smarter ways to do things by tweaking a process, removing waste, or speeding up time-to-source. Procurement process automation can involve anything from automated supplier discovery, risk monitoring, payment processing, spend analytics , and contract approval.

Purchasing 98

Purchasing Innovation Agile and Lean Supply Chain Supplier relationship management 98

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. Purchasing interacts mainly with suppliers. Sourcing : Procurement uses competitive bidding, e-sourcing, and supplier development.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Una

JUNE 1, 2023

From supplier relationship management and global sourcing to risk assessment and sustainability initiatives, each day brings new hurdles to overcome. Make a real impact in ESG and sustainability Procurement is not just about reducing costs ; it’s also about driving innovation and embracing sustainable practices.

Procurement 98

Procurement supply chain budgeting Sustainability Negotiation 98

SCMDOJO

JULY 3, 2023

Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management. Take into account things like your current skill level, desired improvement areas, and professional objectives. Procurement and Purchasing Cycle Lesson 7.

Cost of ownership 98

Cost of ownership Procurement Category management supply chain software solutions 98

Una

APRIL 25, 2023

Why are Sourcing Heroes so often time-poor in procurement? Here are some of the factors that cause time constraints in procurement: Increased complexity The globalization of markets and the expansion of the supply chain bring cost benefits, but have also led to an increase in the volume and complexity of procurement activities.

Procurement 94

Procurement supply chain budgeting Supply Chain Efficiency Contract 94

Procurement Templates

APRIL 15, 2024

This can be beneficial in procurement when building relationships with suppliers, negotiating deals, and resolving conflicts. Communication: Good communication skills are often associated with extraversion, which can aid in conveying requirements clearly to suppliers and understanding their offerings effectively.

Influencing 130

Influencing Negotiation Innovation Risk 130

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

TYA Suite

NOVEMBER 15, 2024

Having a solid risk management plan allows companies to anticipate problems before they escalate, ensuring that supply chains remain efficient and reliable. By monitoring suppliers regularly, businesses can detect issues early and respond proactively. This process is known as supplier risk management.

Risk management 40

Risk management Risk Suppliers Strategy 40

Arkestro

OCTOBER 10, 2023

Then we’ll discuss how AI and other innovative technologies are removing current complexities, allowing oil and gas companies to reduce costs, optimize supply chains, and make data-driven decisions. As a result, the industry’s efficiency is falling while operational costs rise. trillion.

Agile and Lean Supply Chain 52

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

Pipefy

FEBRUARY 13, 2023

Procurement is the process businesses use to source and obtain goods/services from external suppliers to achieve strategic objectives and fulfill business needs or purchase requests. After all, both processes evaluate needs, closely examine budgets, establish schedules, and identify product requirements and specifications.

Real-time Visibility 52

Real-time Visibility e2e Procurement Bidding 52

Arkestro

MARCH 27, 2024

After years of focusing on cost reduction, the majority of procurement leaders say they plan to spend more and increase workloads in 2024, meaning procurement buyers will have more power to influence change and optimize spend across the entire supply chain. But what does a procurement buyer do, exactly?

Buyers 52

Buyers supply chain budgeting Supply Chain Efficiency Procurement 52

SCMDOJO

DECEMBER 11, 2023

Cost Savings: One of the primary benefits of procurement reports is their ability to contribute to cost savings. Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction. Download Free Supplier Performance Report 3.

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

The Procuretech Podcast

JUNE 18, 2024

Highlighting 25 innovative European-based procurement startups, the episode provides valuable insights into emerging players who don't necessarily have the marketing presence and events budget of larger companies. We explore: Apadua offers AI-powered sourcing solutions for professional services.

supply chain software solutions 40

supply chain software solutions Procurement supply chain budgeting Eprocurement 40

Finale Inventory

JUNE 21, 2024

They are typically sourced from nature, such as minerals, metals, chemicals, or agricultural products. Raw materials play a fundamental role in the supply chain of ecommerce businesses. Therefore, strategic sourcing and management of raw materials are critical aspects of running a successful ecommerce operation.

Raw materials 52

Raw materials Import Supply Chain Efficiency Inventory 52

Finale Inventory

JUNE 21, 2024

They are typically sourced from nature, such as minerals, metals, chemicals, or agricultural products. Raw materials play a fundamental role in the supply chain of ecommerce businesses. Therefore, strategic sourcing and management of raw materials are critical aspects of running a successful ecommerce operation.

Raw materials 52

Raw materials Import Supply Chain Efficiency Supply Chain Optimization 52

Una

JUNE 1, 2023

From supplier relationship management and global sourcing to risk assessment and sustainability initiatives, each day brings new hurdles to overcome. Make a real impact in ESG and sustainability Procurement is not just about reducing costs ; it’s also about driving innovation and embracing sustainable practices.

Procurement 52

Procurement supply chain budgeting Sustainability Negotiation 52

Claritum

NOVEMBER 28, 2016

source: (1 page infographic) AccentureOperations , High Performance Procurement (2015). In Deloitte’s Global CPO Survey 2016 the top 4 priorities for CPO’s were found to be cost reduction, new product development, increasing cash flow and organic expansion. source: (p2) Deloitte – The Deloitte Global CPO Survey 2016.

Procurement 50

Procurement Eprocurement Networking Sourcing 50

Procurement Software

MARCH 11, 2022

In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategic sourcing and supplier collaboration. How organisations should recognise the “invisible” benefits.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

MARCH 11, 2022

In this post, we’re going to look at two areas where Procurement teams typically spend a lot of effort, but often struggle to get recognition: Cost avoidance (including price increase deferrals). Driving value through strategic sourcing and supplier collaboration. How organisations should recognise the “invisible” benefits.

Procurement 52

Procurement supply chain budgeting Price Negotiation 52

Procurement Software

APRIL 23, 2024

Launched to make high-end spend analysis tools accessible and budget-friendly, Spendata’s platform empowers users to directly manipulate spend data without the need for IT assistance, facilitating quick and effective decision-making. Spendata caters to both mid-market and enterprise customers.

supply chain software solutions 52

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

Procurement Software

FEBRUARY 20, 2024

Apadua Apadua is a professional services sourcing software, based in Cologne, Germany. In addition, Explore uses information from Source and Monitor to update its database. Source is a safe and user-friendly guide through the RFP and awarding process. It also has convenient filters and ways to organise different providers.

Supply Chain Efficiency 59

Supply Chain Efficiency supply chain software solutions Procurement Real-time Visibility 59

Empowering CPO

JUNE 14, 2023

Introduction Welcome to the dynamic world of procurement, where businesses are constantly seeking innovative ways to manage their supply chains more efficiently and effectively. This move can range from outsourcing a single procurement task, like sourcing, to entrusting the entire procurement process to a third-party service provider.

Procurement 52

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

Empowering CPO

JUNE 25, 2023

Procurement, in its simplest form, is the process by which businesses acquire the goods, services, or works they need from external sources. These systems streamlined the procurement process, improving efficiency and reducing costs. Globalization has made supply chains more complex and harder to manage.

Procurement 52

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

World of Procurement blog

MAY 23, 2024

It involves transitioning away from transacting with multiple vendors for the same or similar goods and services, to consolidating spend and building strategic partnerships with a smaller set of suppliers. This enables data-driven supplier management and performance optimisation.

Supplier consolidation 52

Supplier consolidation Suppliers Supply Chain Efficiency supply chain budgeting 52

Finale Inventory

SEPTEMBER 17, 2024

Establish strong supplier relationships to ensure efficient stock replenishment. Communicate inventory needs, negotiate favorable terms, and keep communication lines open to maintain a reliable supply chain. Address issues proactively and maintain open communication to ensure a smooth supply chain.

Inventory 52

Inventory Strategy Real-time Visibility Management 52