Remove Stakeholder engagement Remove Suppliers Remove supply chain software solutions
article thumbnail

What About Procurement Objectives?

Procurement Templates

Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Savings can be cashable or non cashable i.e. cost avoidance.

article thumbnail

Expanding the influence and impact of Procurement

Spend Matters

Identifying the need for foundational technology and processes Before joining Utz as its SVP Procurement, Ron had been consulting with the Supply Chain department working on a number of different projects. In addition, the broader supply chain organization was working to implement other new tools and processes.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mastering Strategic Sourcing: Efficiency and Cost Savings in Procurement

Jaggaer

A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. The process creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting.

article thumbnail

Category Management in Procurement: A Comprehensive Overview & Best Practices

SCMDOJO

This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money. Category Management Software What is Category Management in Procurement? This strategy also ensures strategic supplier relationship management as per the various categories.

article thumbnail

How SupplyShift can help you with the German Supply Chain Act

SupplyShift

SupplyShift has recently updated and relaunched our Human Rights Compliance Assessment to ensure alignment with the German Supply Chain Due Diligence Act. Companies can use this assessment to analyze their suppliers` risk profiles. Click here to read about SupplyShift’s Human Rights solutions. 5 of the Act.

article thumbnail

Zip Forward 2024: Forging paths to sustainable success

Spend Matters

TPRM is a huge opportunity right now, as document-centric approaches die when they reach the scale needed to perform supplier management (i.e., management of risk, compliance, performance, onboarding speed and supplier collaboration that respects/accommodiates supplier requirements) with fine-grained operating models.

article thumbnail

The Discovery of Procurement Value

The Good Spending

Value creation as the result of stakeholder engagement The authors of Stakeholder Salience model built their work around the process of value creation. The value creation process includes: quality and customer service, supplier relationship, employee enrichment, community benefit, stockholder reward.