ivalua

JULY 22, 2015

This week’s signs deal with supplier relationships. You Have Imbedded a Cost Management Mindset into Every Supplier Relationship. consolidation. Strategic Sourcing Requires Collaborative Working Arrangements with Key Suppliers. You Appreciate the Real Impact of a Successful Supplier Diversity Program.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Supplier consolidation 147

Procurement Insights

MARCH 23, 2025

Reason: High spend and supplier diversity offer substantial savings, critical for production uptime. This could involve more aggressive supplier consolidation, advanced digital procurement tools, or strategic renegotiation of contracts across multiple categories. billion), reflecting equipment maintenance needs (e.g.,

Supplier consolidation 52

Supplier consolidation Supply Chain Optimization Logistics Strategic sourcing 52

Jaggaer

MARCH 20, 2025

Additionally, institutions must remain adaptable to changes in compliance requirements related to federal grant-funded purchases, sustainability mandates, or supplier diversity policies. But these agreements may not always align with institutional needs or local supplier preferences. Ensuring compliance with federal (e.g.,

supply chain budgeting 52

supply chain budgeting Procurement Budget Supply Chain Efficiency 52

Jaggaer

OCTOBER 24, 2024

Maximizing Cost Savings Through Strategic Supplier Collaboration With the growing emphasis on long-term value creation, Chief Procurement Officers are increasingly turning to supplier collaboration as a cornerstone of cost reduction. While this approach may result in short-term savings, it can be counterproductive in the long run.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain budgeting 52

Una

OCTOBER 25, 2022

Consolidate your supplier lists. There are several benefits associated with supplier consolidation. Reducing suppliers also helps mitigate risk throughout the supply chain. Curbing maverick spending and encouraging buyers to spend with preferred suppliers is best achieved through educating the workforce.

Supply Chain Efficiency 105

Supply Chain Efficiency Procurement Purchase orders Real-time Visibility 105

HICX

JULY 13, 2023

At both the Americas Procurement Congress and World Procurement Congress 2023 , we took a deep dive into the world of the supplier portal, dispelling some myths and hearing from Johnson & Johnson and Heineken about their views on this topic. In the session, Stephane focuses on the one portal for suppliers, Supplier Central.

Suppliers 52

Suppliers Procurement Collaboration Procurement team 52

Empowering CPO

JUNE 27, 2023

This transformative practice enables organizations to delve deep into their purchasing data, gaining invaluable insights that can revolutionize their supplier relationship management (SRM) strategies. SRM encompasses various activities, including supplier selection, performance evaluation, contract negotiation, and collaborative innovation.

Supplier relationship management 52

Supplier relationship management Suppliers Management Negotiation 52

Supply Chain Game Changer

JUNE 30, 2022

A supply chain is made up of an interconnected network of suppliers that all function together to deliver products or services to customers efficiently. Consolidation. Supplier consolidation is a major player in supply chain strategy. Many third-party logistics providers offer supplier management services.

Agile and Lean Supply Chain 78

Agile and Lean Supply Chain Supply Chain Efficiency supply chain budgeting Supply Chain Optimization 78

Procurement Heads

JUNE 28, 2022

Commercial functions are beginning to see the benefits of being really specific with suppliers. Targeted requests for specific innovation or specific environmental requests are yielding positive results, and suppliers are responding well to this. Clarice Camacho – Head of Global Energy Procurement, ARLANXEO Netherlands B.V.

Chief Procurement Officer 130

Chief Procurement Officer Supply Chain Optimization supply chain budgeting Innovation 130

Una

JULY 26, 2022

In turn, this opens the door to huge cost savings through the identification and management of maverick spend , supplier consolidation, and the ability to spot patterns and extract insights that will lead to better purchasing decisions.

supply chain software solutions 98

supply chain software solutions Supplier consolidation Purchasing Contract 98

Skill Dynamics

JULY 19, 2024

The Foundation of a Successful Procurement Strategy To put it simply, a procurement strategy is a plan that outlines how an organization optimizes its external spending, manages its various supplier relationships, and maintains streamlined internal processes to support cost-effectiveness and generate efficiency.

Procurement strategies 90

Procurement strategies Strategy Procurement supply chain budgeting 90

SCMDOJO

DECEMBER 11, 2023

Access to data on supplier performance, market trends, and cost analyses enables leaders to optimize procurement strategies for improved efficiency and effectiveness. Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction.

Supply Chain Efficiency 21

Supply Chain Efficiency Purchase orders Procurement Bidding 21

TYA Suite

AUGUST 6, 2024

At its core, procurement involves building and maintaining robust relationships with suppliers to ensure a seamless flow of operations. This is where supplier relationship management (SRM) plays a pivotal role. The essence of SRM lies in recognizing the interdependence between an organization and its suppliers.

Supplier relationship management 40

Supplier relationship management Suppliers Import Management 40

Una

AUGUST 17, 2022

The figure’s head represents the top 1% of strategic suppliers to your organization. This is where strategic sourcing professionals spend most of their time, communicating directly with their top suppliers through an SRM program , and using cutting-edge procurement software to analyze spend and track risk. Next is the tail.

Real-time Visibility 98

Real-time Visibility Spend management Procurement team Purchasing 98

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.

Real-time Visibility 52

Real-time Visibility Supplier consolidation Suppliers supply chain software solutions 52

Empowering CPO

JUNE 26, 2023

Spend analysis refers to the process of examining and categorizing an organization’s spending patterns, supplier relationships, and purchasing behavior to identify opportunities for cost reduction, process improvement, and strategic decision-making. Data-Driven Decision-making: Informed decision-making is crucial in healthcare.

supply chain budgeting 52

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

Empowering CPO

JUNE 22, 2023

The primary aim of this process is to decrease procurement costs, enhance efficiency, improve supplier performance, and ensure compliance. Data Classification: The cleansed data is then classified into categories based on products or services, suppliers, departments, and more.

Sustainability 52

Sustainability Procurement Supplier consolidation Supply Chain Efficiency 52

Supply Chain Game Changer

JANUARY 9, 2019

A well-done spend profile will reveal things like the amount of money your organization spends on each category of goods and services it purchases, the amount of money spent with each supplier, changes in spend over time, and other valuable information. What are some appropriate remedies for a supplier’s failure to perform?

Procurement 68

Procurement Purchasing Negotiation supply chain software solutions 68

Supply Chain Game Changer

JANUARY 30, 2019

Supplier Base Compliance. During sourcing projects, compliance is a valued attribute from the side of a supplier. Word to the wise… standardization in your governance activities will return better results when gauging supplier base compliance as a KPI. Supplier Collaboration. Supplier Development.

Procurement team 56

Procurement team Procurement Sustainability Suppliers 56

Supply Chain Game Changer

NOVEMBER 26, 2018

It does mean that you will gain tremendous industry expertise, greater spend leverage and lower costs, ready-made supplier relationships, expanded scope, and electronic connectivity. Supplier Management. There have been no efforts at supplier consolidation or performance management. Organization. Mode Management.

Strategy 68

Strategy Management Real-time Visibility e2e 68

Una

FEBRUARY 22, 2023

Don’t make the mistake of squeezing your suppliers for short-term cost savings as this will damage relationships and the opportunity for long-term value creation will be lost. GPOs leverage the collective buying power of their members to obtain volume discounts from suppliers and vendors.

Strategy 52

Strategy Purchasing Supply Chain Efficiency Supplier consolidation 52

Empowering CPO

JUNE 20, 2023

This might involve negotiating better pricing with suppliers, consolidating purchases to take advantage of volume discounts, or switching to alternative materials or suppliers that offer better value for money. Our analysis revealed that they were sourcing similar components from multiple suppliers at varying prices.

Supplier consolidation 40

Supplier consolidation Negotiation Suppliers Spend management 40

World of Procurement blog

MAY 8, 2024

Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Software

MAY 30, 2023

Across any category of indirect spend, with the exception perhaps of energy and utilities, there is a long tail of non-strategic, tail spend suppliers. Once you have a decent spend taxonomy in place, you can easily categorise your suppliers per category. Suppliers get comfortable when their work is not regularly tendered.

Procurement 52

Procurement Procurement team Purchase orders Contract 52

Empowering CPO

JUNE 27, 2023

We have helped numerous organizations achieve significant cost savings, enhance supplier relationships, mitigate risks, and streamline procurement processes through our category spend analysis services. We will explore cost reduction opportunities, supplier performance enhancement, risk mitigation, and compliance assurance.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40

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. Supplier Management with AI AI is transforming how procurement teams evaluate, select, and manage suppliers.

Procurement team 52

Procurement team Procurement Real-time Visibility Supply Chain Efficiency 52

Planergy

MARCH 2, 2023

The process of tail spend analysis involves analyzing data from various sources, including supplier invoices, purchase orders, contracts, and other financial documents. Tail spend follows the Pareto principle – the idea that 80% of a company’s spending can be connected to 20% of the supplier base.

supply chain budgeting 52

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

Empowering CPO

JUNE 21, 2023

Suppliers: These are the businesses or individuals providing goods or services to your company. In a spend analysis, you track the money spent with each supplier to assess your reliance on them and identify opportunities for negotiation or supplier consolidation. Transaction Date: The date when the transaction took place.

Purchase orders 52

Purchase orders Data Purchasing Suppliers 52

Planergy

JANUARY 19, 2023

Using ABC Analysis: Class A: These purchases account for 80% of your total cost of purchases for 20% of suppliers. Class B: These purchases account for 15% of the total cost of purchases for 30% of suppliers. Class C: Tail Spend: These purchases account for 5% of your total cost of the purchases for 50% of your suppliers.

supply chain budgeting 52

supply chain budgeting Procurement Supply Chain Efficiency Supply Chain Optimization 52

Empowering CPO

JUNE 16, 2023

It forms the backbone of procurement strategy, enabling companies to identify inefficiencies and bottlenecks, improve supplier relationships, mitigate risks, and leverage buying power for better negotiation. It includes information about suppliers, invoices, purchase orders, payment terms, and more.

Import 52

Import Procurement Supply Chain Efficiency Real-time Visibility 52

Empowering CPO

JUNE 25, 2023

Its purpose is to increase visibility of procurement spend, identify savings opportunities, improve operational efficiency, and monitor supplier performance. Furthermore, an effective Spend Analysis can reveal insights about supplier performance, market trends, and potential risks.

supply chain budgeting 52

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

TYA Suite

OCTOBER 6, 2024

Supplier performance is an essential component of procurement performance management. KPIs such as supplier lead time, on-time delivery rate, and supplier defect rate help organizations assess their suppliers' reliability and quality. This procurement KPI is a key indicator of procurement process efficiency.

Procurement 40

Procurement Purchase orders supply chain budgeting Procurement team 40

Empowering CPO

JUNE 20, 2023

Definition of Tail Spend and Its Importance in Procurement Tail spend, or non-strategic spend, typically refers to the approximately 20% of a company’s purchases that account for about 80% of its suppliers. While tail spend is often neglected, it holds a gold mine of untapped savings opportunities.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Spend management Risk 40

Empowering CPO

JUNE 20, 2023

It offers a granular view of procurement activities, helping organizations identify cost reduction opportunities, manage supplier performance, mitigate risks, and ultimately, make better, data-informed decisions. When applied to Supply Chain Management, Spend Analysis serves as an invaluable tool.

Supply chain management 40

Supply chain management Supply chain management supply chain budgeting Supply Chain Efficiency 40

Empowering CPO

JUNE 20, 2023

It helps businesses identify cost-saving opportunities, improve supplier relationships, enhance procurement processes, and ensure compliance with organizational policies and external regulations. It can help identify patterns of maverick spend, areas of unmanaged spend, and potential supplier consolidation opportunities.

Real-time Visibility 40

Real-time Visibility supply chain budgeting Supply Chain Efficiency Data 40

Una

FEBRUARY 18, 2025

Search for Cost Savings - spend analytics software can be used at the category level to identify waste, duplication, or supplier consolidation opportunities. Identify the key performance indicators ( KPIs ) that matter and use spend analytics to find cost-saving opportunities, prioritize suppliers, and spot risks.

Category management 40

Category management Strategy Management Procurement team 40

Empowering CPO

JUNE 27, 2023

It provides invaluable insights into spending patterns, supplier performance, and opportunities for cost optimization. At its core, spend analysis empowers businesses to unlock the hidden potential within their procurement data, leading to improved cost savings, supplier management, and overall procurement performance.

Procurement 52

Procurement Real-time Visibility Supply Chain Optimization Procurement strategies 52