Una

JANUARY 4, 2023

Group purchasing can be used in conjunction with other procurement strategies , like strategic sourcing, for example. Strategic sourcing involves identifying and evaluating potential suppliers based on factors such as cost, quality, and reliability.

Purchasing 92

Purchasing supply chain budgeting Procurement strategies Contract 92

SCMDOJO

APRIL 3, 2022

Introduction to Strategic Sourcing. . Data-driven telecommunication operations and services have become the business standard, and electronic procurement platforms are streamlining and automating the purchasing process. It’s time for the Auctioneer to take the stage! Macfarlane, 2017).

Supply Chain Efficiency 141

Supply Chain Efficiency Bidding Procurement team supply chain software solutions 141

World of Procurement blog

APRIL 23, 2024

Spend analysis enables informed decision-making and strategic sourcing. Strategic Insight : Data analytics offer valuable insights for strategic planning, helping procurement shift from a transactional function to a strategic partner.

Supply Chain Efficiency 52

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

World of Procurement blog

APRIL 23, 2024

Spend analysis enables informed decision-making and strategic sourcing. Strategic Insight : Data analytics offer valuable insights for strategic planning, helping procurement shift from a transactional function to a strategic partner.

Supply Chain Efficiency 52

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

Pipefy

DECEMBER 20, 2023

Strategic procurement, or procurement strategic planning, is a data-driven process that helps businesses align procurement and business goals. What is strategic procurement? This also leads to more advantageous strategic sourcing. Business needs identification to better align sourcing strategies.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Agile and Lean Supply Chain Strategic planning 52

The Good Spending

APRIL 3, 2022

Category management is an integral part of the "plan-to-procure" cycle. A critical mistake occurs when category management stays away from strategic sourcing operations. Step 1: Strategic planning and demand management Any purchase requisition must pass the category management well before the sourcing begins.

Category management 52

Category management Demand Management Procurement 52

Skill Dynamics

OCTOBER 19, 2023

For example, advanced strategic planning skills are relevant to procurement managers, while data analysis proficiency is associated with sourcing analyst roles. Strategic planning – vital for matching procurement strategies to overarching organization goals.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain supply chain software solutions 52

Una

OCTOBER 17, 2023

Group purchasing can be used in conjunction with other procurement strategies , like strategic sourcing, for example. Strategic sourcing involves identifying and evaluating potential suppliers based on factors such as cost, quality, and reliability.

supply chain budgeting 81

supply chain budgeting Real-time Visibility Supply Chain Efficiency Supply chain 81

Una

SEPTEMBER 22, 2022

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. Thinking strategically involves planning for the long-term, making decisions based on data and the overall goals of the organization, building strong relationships, and more.

Procurement 98

Procurement Real-time Visibility Contract Purchasing 98

Planergy

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Enhanced Decision-Making A well-prepared budget provides valuable insights for strategic planning and decision-making. How to gain visibility and control of your indirect spend.

supply chain budgeting 92

supply chain budgeting Budget Real-time Visibility Spend management 92

Planergy

DECEMBER 25, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Financial Planning & Analysis (FP&A) is critical in every organization. It is the driving force behind financial decision-making, providing essential insights that guide strategic planning and budgeting.

Real-time Visibility 52

Real-time Visibility Data Budget Strategic planning 52

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. Furthermore, a well-designed template can make the data more accessible to stakeholders, aiding in communication and strategic planning.

Purchase orders 52

Purchase orders Data Purchasing Suppliers 52

Empowering CPO

JULY 17, 2023

It can guide strategic planning, support budgeting decisions, and help demonstrate the value of procurement to stakeholders. Additionally, they can identify cost-saving opportunities through spend analysis and strategic sourcing. ROI serves as a critical decision-making tool for businesses.

Management 52

Management Procurement Vendor relationships Supply Chain Efficiency 52

Empowering CPO

JUNE 30, 2023

As a leading provider of procurement intelligence services, our mission is to empower Chief Procurement Officers (CPOs) and their teams with insightful, actionable data that drives strategic decision-making. For instance, EmpoweringCPO worked with a $12 billion company in the Food & Beverage sector that had an annual spend of $3.5

Supply Chain Optimization 52

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

Planergy

DECEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These objectives should align with the school’s mission and long-term strategic plan. These obstacles can be significant but can be navigated successfully with strategic planning and effective management.

Budget 52

Budget Strategic planning Real-time Visibility Purchasing 52

Empowering CPO

JUNE 27, 2023

It helps to transform procurement from a tactical function into a strategic, value-adding component of the organization, ultimately paving the way for growth and success. The Importance of Spend Analysis in Business Spend analysis is a crucial aspect of a company’s strategic planning and decision-making process.

Real-time Visibility 52

Real-time Visibility Supply Chain Optimization Purchase orders Supply Chain Efficiency 52

Planergy

SEPTEMBER 6, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This comprehensive guide will delve into strategic budgeting, its importance, the steps involved in creating a strategic budget, benefits, challenges, best practices, and help identify differences between forecasting and budgeting.

Budget 52

Budget Real-time Visibility Innovation Data 52

Procurement Software

MAY 14, 2024

The increased visibility into procurement operations facilitates better compliance, risk management, and strategic planning. Nonetheless, procurement can – and does – deliver a lot of value here, beyond their planned strategic sourcing projects remit.

Procurement 52

Procurement Real-time Visibility e2e Chief Procurement Officer 52

Empowering CPO

JUNE 27, 2023

External Data Sources: External data sources, such as market data, industry benchmarks, economic indicators, and supplier directories, provide valuable context for spend analysis. Incorporating external data enhances the understanding of market trends, benchmarks performance, and identifies opportunities for strategic sourcing.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Data 40

Planergy

MARCH 20, 2025

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Developing multi-year strategic plans also ensures goals align with financial realities, enabling MATs to plan for future risks. How to gain visibility and control of your indirect spend.

Sustainability 52

Sustainability Strategy Spend management Budget 52

Planergy

DECEMBER 11, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This involves regularly monitoring and evaluating the trust’s performance, seeking stakeholder feedback, and using this information to inform strategic planning and decision-making.

Leadership 52

Leadership Budget Collaboration Management 52