Remove Inventory Remove Procurement Analytics Remove Sourcing Remove Sustainability
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The Power of Purchase Order Collaboration: A Game-Changer in Managing Direct Spend

Logistics Viewpoints

It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks. From natural disasters to geopolitical tensions and the ongoing COVID-19 pandemic, supply chains have been significantly impacted.

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The Greenest Mile: Planning’s Role in Supply Chain Sustainability

Logistics Viewpoints

Supply chain sustainability is a higher priority than ever. In MIT’s State of Supply Chain Sustainability 2021 , 80% of executives surveyed said the pandemic either had no impact on their commitment or increased it. PwC reports that almost half of assets under management are held by investment firms committed to decarbonization.

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Top 5 KPIs for Purchasing Managers

Precoro

The purchasing department plays a critical role in the success of an organization. Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost.

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Unlocking Success: Why Strategic Sourcing Is Important for Your Company

Precoro

To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing. Strategic sourcing is a holistic approach to supply chain management that includes tactics for optimizing the total cost of ownership, improving supplier relationships, and ensuring long-term value creation.

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Why Procurement Management Tool is a Must for Efficient Purchasing

Precoro

Procurement is a complex and dynamic process involving strategic planning and several stages of execution, from sourcing to paying and reporting. Supply chain management, purchase requisitions and orders, budget management, and three-way matching – all these processes are integral to procurement as a whole.

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Procurement and Supply Chain are Smarter Together – Practical Use Cases

Logistics Viewpoints

In a previous post , I made a case for how the Chief Supply Chain Officer (CSCO) and Chief Procurement Officer (CPO) are smarter together. Accordingly Supply Chain and Procurement will need continuous collaboration. Such sourcing events can be in the context of direct materials or logistics capacity.

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Sourcing and Procurement: One but Not the Same

Precoro

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?