IBM Supply Chain Blog

FEBRUARY 13, 2024

For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals. And from that group, 71% would pay a premium for it.

Strategic sourcing 78

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

ivalua

SEPTEMBER 10, 2019

Too many suppliers in one category may mean it’s time to simplify or negotiate better pricing with fewer vendors. Digital sourcing tools can help make this a more manageable metric. #3 Success in this metric also contributes to long-term vendor relationship management. #4

Vendor relationships 140

Vendor relationships Suppliers Negotiation Data 140

Procurement Tactics

JULY 18, 2022

Includes need recognition, contract source, and sourcing. Focuses on creating long-term vendor relationships. Focuses on transactions than vendor relationships. The market research should cover sourcing new potential suppliers. Puts more importance on an item’s value than its cost. Purchasing.

Procurement 130

Procurement Negotiation Vendor relationships Purchasing 130

Spend Matters

JANUARY 21, 2025

Coupled with AP automation, businesses can enhance their AP processes, leading to improved vendor relationships and significant operational improvements. By taking the initial steps towards adopting virtual payments, companies can position themselves for greater financial agility in an increasingly digital marketplace.

Suppliers 106

Suppliers Vendor relationships Price Purchasing 106

ivalua

NOVEMBER 10, 2020

Innovating to Uncover New Sources of Revenue in the Public Sector. Step 1: Use e Procurement Systems as a Potential Source of Revenue. Thinking of procurement as a new source of revenue is certainly counterintuitive, but it fits the bill of thinking differently. Step 2: Use e Procurement systems for vendor relationships .

Procurement 130

Procurement Real-time Visibility Contract Sourcing 130

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

Planergy

FEBRUARY 24, 2025

It involves long-term planning, vendor relationship management, and aligning procurement decisions with institutional goals. Develop Solid Vendor Relationships: Strategic Partnerships Vendor relationships should transcend transactional interactions, evolving into strategic partnerships that support institutional growth.

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 52

ivalua

DECEMBER 20, 2019

A tiered approach to supplier onboarding helps Sourcing and Procurement leaders develop a sensible list of checks and resources. Onboarding to Bridge Upstream and Downstream Sourcing . Onboarding serves as a bridge between upstream and downstream sourcing. One size does not fit all when it comes to supplier onboarding.

Suppliers 100

Suppliers Contract Vendor relationships Innovation 100

Procurement Tactics

AUGUST 9, 2022

The Importance of Supplier/Vendor Relationships. Establishing and maintaining a strong vendor relationship is important to customer service, quality, cost efficiency, and market development. . This course is a perfect fit for ambitious procurement & sourcing professionals. ENROLL NOW. LEARN MORE.

Vendor relationships 130

Vendor relationships Quality Price Bidding 130

ivalua

APRIL 27, 2023

However that’s only part of the puzzle – strong vendor relationships are equally essential. You can connect with Vishal on Linkedin You May Also Like Source to Pay (S2P) What is Source to Pay Best Practice? An Analysis by Ivalua Read More : What is Source to Pay Best Practice?

Supply Chain Efficiency 130

Supply Chain Efficiency Agile and Lean Supply Chain Supply Chain Optimization Sustainability 130

ivalua

APRIL 27, 2023

However that’s only part of the puzzle – strong vendor relationships are equally essential. You can connect with Vishal on Linkedin You May Also Like Source to Pay (S2P) What is Source to Pay Best Practice? An Analysis by Ivalua Read More : What is Source to Pay Best Practice?

Sustainability 130

Sustainability Risk Supply Chain Efficiency Agile and Lean Supply Chain 130

Procurement Tactics

JUNE 28, 2023

Furthermore, it enables businesses to implement strategic sourcing practices, strengthen their suppliers, and bargain volume of discounts through monitoring expenditure patterns and identification of cost drivers. It provides an opportunity for organizations to prove that they comply with sustainability and ethical sourcing standards.

Supply Chain Efficiency 178

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

Procurement Tactics

AUGUST 19, 2022

It takes appropriate measures to control costs, reduce potential supplier risks, and ensures excellent service deliverability from vendors. . The vendor management process involves several different stages which are: 1. Vendor sourcing . Paying in time can foster good vendor relationships. . ENROLL NOW.

Vendor management 130

Vendor management Management e2e Negotiation 130

Procurement Insights

AUGUST 14, 2024

The latest development in this ongoing saga is the acquisition of Jaggaer, a prominent Source-to-Pay (S2P) vendor, by Vista Equity Partners. Such disruptions can have far-reaching consequences for a solution like Source-to-Pay, which is traditionally considered the operational lifeline for procurement departments.

Procurement 98

Procurement Vendor relationships Innovation Leadership 98

Procurement Tactics

MAY 24, 2023

Vendor scorecards can also help vendors to better understand the expectations and requirements of their customers, and to identify areas where they can improve their performance. Strategic sourcing managers and procurement managers are typically responsible for managing supplier scorecards. What is the purpose of it?

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Supply Chain Game Changer

NOVEMBER 7, 2022

If you have an efficient preventive IT, you’ll be able to gather data from various sources and integrate them into a single database that your business analysts can access for evaluation. Strengthens Vendor Relationships. The success of your supply chain depends on managing your vendor relationships.

supply chain budgeting 86

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Supply chain 86

Supply Chain Game Changer

MARCH 9, 2022

Companies that have contributed solutions in the space are known as “ vendor relationship management ” firms, examples of which include companies such as Parq. It streamlines the procure-to-pay and source-to-contract processes. This helps project managers monitor all activities and ensure a successful outcome.

Procurement 108

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 108

Procurement Leaders

JUNE 9, 2022

This represents a major paradigm shift for PMI, changing the makeup of what is being sourced but also driving a need for greater innovation to build a smoke-free product portfolio. Tail spend management: The procurement team deployed tail spend solutions in over 60 markets to make vendor relationship management easier and more cost-effective.

Category management 130

Category management Strategy Procurement Innovation 130

IBM Supply Chain Blog

JUNE 7, 2023

In fact, according to the clients IDC surveyed , 62% reported that multivendor environments caused more downtime issues than a single source. 22% reduction in time spent on vendor relationship management: Having a single point of contact to manage vendor relationships frees up additional time for IT staff.

Data 66

Data Strategy Vendor relationships Inventory 66

Supply Chain Game Changer

NOVEMBER 16, 2022

It helps bring predictability to Strategic Sourcing, automates Transactional Procurement (or P2P cycle), and enables proactive Supplier Risk Management. Improved Vendor Relationships. Today vendors have options and like to work with companies that value relationships. for each invoice. Supplier Management.

Supply Chain Efficiency 19

Supply Chain Efficiency Procurement Real-time Visibility Supply Chain Optimization 19

Empowering CPO

JULY 17, 2023

By taking on the complexities of procurement, these services allow businesses to focus on their core competencies, while reaping the benefits of optimized supply chains, cost savings, and improved vendor relationships. Additionally, they can identify cost-saving opportunities through spend analysis and strategic sourcing.

Management 52

Management Procurement Vendor relationships Supply Chain Efficiency 52

Una

SEPTEMBER 22, 2022

A guide to IT procurement for navigating the complex IT sourcing process in a way that drives organizational efficiencies and improves your bottom line. As you begin to navigate this category, some of the same strategic sourcing best practices can be used as a guide to IT procurement as well. Nurture Vendor Relationships.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

Planergy

MARCH 11, 2025

Invoice Exceptions If a discrepancy is found, there can be a significant delay between when the source of the error is found and when an invoice can be processed for payment. These delays can lead to late payments, resulting in fees being assessed, damaged vendor relationships and can even affect your companys credit.

Real-time Visibility 52

Real-time Visibility Purchase orders Purchasing Export 52

Spend Matters

MARCH 25, 2024

“Historically, there has been value leakage from siloed negotiations of contracts with the same vendor. There is typically no reason to have different contracts with the same vendor. Our goal should be a master agreement containing the overall terms of the vendor relationship with sub agreements limited to the project’s specific terms.

Procurement contracts 124

Procurement contracts Contract Procurement Negotiation 124

Pipefy

MARCH 6, 2023

But procurement is also about vendor relationship management, preventing avoidable costs, and handling a high volume of incoming purchase requests. If what you are sourcing is labor, then you’ll need to determine the skill set the person(s) will need, as well as the hours and type of work they will be doing.

Procurement 59

Procurement Procurement team Purchase orders Vendor relationships 59

Finale Inventory

JULY 29, 2024

Customer relationship: Dealers build direct relationships with end customers, while distributors focus on partnerships with dealers and retailers. Product selection: Dealers offer a wide range of products from various sources, while distributors specialize in specific product lines or brands.

Inventory 52

Inventory Supply Chain Efficiency Vendor relationships Supply Chain Optimization 52

ivalua

JUNE 10, 2020

Business owners must also have knowledge when it comes to: Managing vendor relationships. Combining the right technologies and processes is critical for identifying sources of disagreement that threaten to disrupt your supply chain. After all, guaranteeing that your goods arrive on time is just one part of the overall picture.

Risk management 147

Risk management Risk Suppliers Management 147

Empowering CPO

JUNE 20, 2023

By providing a clear view of all expenditures, spend analysis enables businesses to identify areas of overspending, uncover savings opportunities, and negotiate better terms with vendors. It facilitates strategic sourcing decisions, ensuring that businesses obtain the best value for their money.

Vendor management 40

Vendor management Vendor relationships Management Supply Chain Efficiency 40

Zycus Cognitive Procurement

FEBRUARY 14, 2022

In light of this, enterprise leaders must keep their eyes peeled for healthy vendor relationships that will last beyond 2022. In this blog, we will highlight some high-risk areas that need fixing and ways you can go about building better supplier relationships. Invest in dedicated supplier relationship management technology!

Suppliers 52

Suppliers Supply Chain Efficiency Supplier relationship management Vendor relationships 52

Jaggaer

DECEMBER 13, 2024

By standardizing procurement activities, organizations gain visibility over spending, strengthen supplier relationships, and optimize cash flow management. By managing the transaction flow and payment process, P2P strengthens vendor relationships and improves cash flow, cornerstones of business continuity.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Real-time Visibility e2e 52

Jaggaer

DECEMBER 13, 2024

Historically, the buyer-vendor relationship was seen as adversarial. But in a healthy buyer-vendor relationship, both parties are winners. Today, the relationship is collaborative, and it will become increasingly so as we move towards autonomous commerce.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Buyers Vendor relationships 52

Supply Chain Game Changer

NOVEMBER 22, 2018

Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? He had been with this company for decades and built not only the sales network, production, but also worked in systemizing supply chain and sourcing (in the hundreds of millions of dollars). Co-sourcing Aids L’Oreal Indirect Procurement.

supply chain budgeting 63

supply chain budgeting Procurement Supply Chain Efficiency supply chain software solutions 63

Arkestro

MARCH 27, 2024

The best procurement buyers have a solid understanding of market trends, supplier performance, and ethical sourcing. The daily tasks of a procurement buyer can vary from one industry to another, but the core responsibilities always come back to the sourcing of goods and services in an efficient, strategic way.

Buyers 52

Buyers supply chain budgeting Supply Chain Efficiency Procurement 52

Una

FEBRUARY 6, 2025

Realizing the job is too much for one person, you decide to hire help from several different sources. Benefits of Fourth-Party Logistics Vendor Management : A 4PL acts as an intermediary between your business and various logistics providers. Imagine, for a moment, that youre hosting a big party.

Logistics 45

Logistics supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 45

Pipefy

JANUARY 4, 2023

At the same time, teams are expected to source and pay for these products and services with efficiency, speed and precision. For example, workflows such as sourcing , vendor onboarding, RFP, and P2P. Some teams look to procurement automation to improve vendor relationships or reduce the amount of manual work required.

Procurement 52

Procurement Procurement team Purchase orders e2e 52

Arkestro

OCTOBER 29, 2023

After all, more data sources doesn’t necessarily mean better or cleaner data to strategize from. Supplier relationship management: Unarguably, humans are better at dealing with other humans than AI is. Interpersonal skills and trust building are key aspects of a supplier-vendor relationship that AI can’t yet replicate.

Procurement 52

Procurement Procurement team Supplier relationship management Supply Chain Optimization 52

Barkers Procurement

AUGUST 14, 2023

An acquisition will establish a new pathway for sourcing goods, and divestitures will change the demands of customers. This reduces the exposure of the organisation in vendor relationships. A good change management programme can offer insight into ongoing improvement efforts and visibility into supplier performance indicators.

Change management 52

Change management Management Procurement Vendor relationships 52