3 Limitations of e-Auctions and How to Overcome Them


Did you know that reverse auction software can help you save 18 to 40% on addressable spend? Buyers are always looking for ways to reduce sourcing fees and the e-auction system provides such a platform. It permits streamlining of e-procurement and assists in improving service along the supply chain.

5 Tips When Using Inventory Management Software


Without inventory management, businesses, economies, and societies would descend into chaos. Inventory management is one of the most crucial elements in developing strong and resilient supply-chains that aren’t affected by the volatile marketplace.

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RFQ Meaning: Understanding a Request for Quote Procedure


The procurement process is all about creating reliable, resilient, and sturdy supply chains, while improving time, efficiency, and savings.

Enhancing the RFP Process for a Stronger Supplier Relationship


The supply chain is a vital aspect to any organization in any industry. Developing a book of suppliers and vendors that are trustworthy, reliable, and actively respond to RFPs is a challenge for every procurement team. Enhancing the RFP process can help organizations in building a library of suppliers and vendors that they can turn […]. The post Enhancing the RFP Process for a Stronger Supplier Relationship appeared first on ProcurePort Blog. RFP Software Uncategorized

Hype Cycle for Supply Chain Strategy, 2020

Our recent supply chain planning survey showed that only 17% of organizations place considerable effort on innovation. For most, firefighting is the norm. But to succeed in today’s business landscape and recover quickly from disruptions, you need to carefully balance operational excellence with innovation for long-term growth. Get insights in this Gartner report to find out where to invest and what you should adopt as standard business practices.

Purchasing and Supply Chain Management in 2020


2020 has shown itself to be a wake up call for many departments within businesses. Many were caught unaware by the coronavirus and no one could have predicted that the whole world would be on lockdown because of a global health pandemic. Since March, the United States economy has shrunk at the fastest rate since […]. The post Purchasing and Supply Chain Management in 2020 appeared first on ProcurePort Blog. Procurement News

What is Sourcing? Your Procurement Guide


A lot of people often use the terms procurement and sourcing interchangeably. While they are indeed linked, they are quite distinct processes in themselves. Procurement is best described as the business of obtaining the raw materials needed by a company.

Hidden Benefits in the Source to Pay Process


The best businesspeople manage to find additional value where others cannot. This means mining through data, staying updated on the latest technology being used within the organization for strategic sourcing, and staying on top of current market trends as well.

How the P2P Cycle Impacts Business


Communities of all shapes and sizes exist throughout society. Neighborhoods, families, organizations, towns, all of these are just a few examples of communities varying in size and function. Businesses and organizations are communities as well.

Strengthen Your Purchase Order Requisition Process


“A chain is only as strong as its weakest link.” This phase is both literal and metaphorical. In reality, if one link breaks in the chain; it’s no longer doing its job and fails the system.

Become a Walmart On-Time In-Full Guru With the Ultimate Guide to OTIF!

Information on Walmart’s On-Time In-Full program is scattered, so we’ve put together everything you need to know about OTIF. Download this ebook to get the skinny on OTIF metrics, identifying the root cause of issues, and how to improve your scores!

How Reverse Bidding Benefits Your Auction Process


When was the last time you changed vendors? Are you being charged a fair market price for your supplies? Procurement teams should revise their suppliers annually. In this way, you can discover new and possibly better vendors providing equitable and competitive prices.

Enhancing Your Team’s E-Auction Bidding Strategy


In today’s world, time is money. Companies are looking for ways to effectively manage costs during procurement while also getting value. Undoubtedly one of the most time-consuming and laborious processes for many had been the extended negotiations companies had with each vendor.

What Does Procurement Mean for your Organization?


Every organization is different, unique, and has specific needs. Any one organization could very well need to source a spectrum of tasks and activities to other companies, or vendors.

MRO Spend Metrics Procurement Needs to Focus On


No matter the business, and no matter the industry, money is what keeps the gears grinding and the wheels turning. As such, companies that have a stronger sense of control over their cashflow have a leg up on their competitors.

The Five Worst Practices in Procurement

The GEP white paper lists 5 common mistakes that impede the success of procurement professionals. Learn from industry veteran Bill Huber about the wrong and right ways to approach a procurement mandate and why just saving money isn’t enough. Download this report now to learn how to avoid the worst procurement practices.

What Kind of Vendor Risk Management System Do You Have in Place?


Data and personal information are two of the most valuable commodities in the marketplace today. Demonstrated by the massive international scandals related to global politics over the past 5 years, it’s evident that an individual’s data and information is almost as good as gold.

Breaking Down the Category Management Definition in Procurement


When Brian F. Harris, former university professor at the University of Southern California (USC) first coined the term “category management” it was in relation to retail.

Enhancing Your Contract Management System for 2021


Whenever there are a variety of moving parts that all have to work seamlessly together – systems and processes can become convoluted. Procurement teams have to operate similarly to that of a clock. Each piece a cog, whose function affects the entirety of the clock.

Purchase Order Requisition Software Developments for Your Procurement Team


In most technologically saturated markets, there are going to be constant developments. This is certainly the case in the context of procurement. Because the procurement department is so large and comprehensive in it’s functionality, departments often make use of a multitude of softwares.

How Georgia-Pacific Turned Their Supply Chain into a Competitive Advantage

Georgia-Pacific, one of the world's leading manufacturers of tissue, pulp and paper and supplier to top brands like Brawny, Angel Soft and DIXIE, trusts ClearMetal for their supply chain requirements. Read the case study to hear how one company turned the reliability and transparency of its supply chain into distinct competitive advantages.

What Does Source to Pay Mean in the “New Normal” of Procurement


The global coronavirus pandemic has brought millions of businesses the world over to a grinding halt. In May 2020, The Washington Post reported that “over 100,000 small businesses had closed forever as the nation’s pandemic toll escalated.”

6 Results You Can Expect From Effective e-Sourcing Technology


The procurement process involves sourcing and finding required goods and services and then making agreements to acquire them from an external source. The procurement process can be short and simple or it can be long and complex depending on the industry an organization is in and its scale of operations. For instance, international and manufacturing […]. The post 6 Results You Can Expect From Effective e-Sourcing Technology appeared first on ProcurePort Blog.

What the Procure to Pay Process Contributes to the C-Suite


Running a business or organization requires dedication and strategic thinking. Some of the best organizations align their business practices and operations with their vision and mission statements.

RFI vs RFP: How to Progress in the Request Process


Understanding the nuanced differences between similar terms in an industry is essential to creating effective processes and procedures. In many instances, especially in procurement, there are a range of terms and acronyms with similar meanings – but significant differences.

Mission Critical: Leveraging Learning Engineering to Drive Digital Transformation

Speaker: Trish Uhl, Founder of Owl's Ledge LLC and the Talent & Learning Analytics Leadership Forum

Digital is disrupting every part of an organization's value chain at a record pace, creating a critical need to transform operations and employees' ways of working. Formal training alone can't keep up; it's often too slow, too generic, inconvenient, inefficient, unduly expensive and lacks or lags methods for measuring business-related effectiveness. Trish Uhl show you how to start leveraging Learning Engineering, a multidisciplinary approach that combines modern technology, data analytics, decision science, learning sciences and change management with human-centered engineering design methodologies to ultimately deliver targeted learning outcomes and business results that keep pace with the business and merge learning into the flow of work and lead Digital Adoption.

How Procurement Software has Progressed in 2020


2020 is going to be a significant year historically. From the world-wide pandemic, to the mass social unrest, to one of the most unique elections the United States has ever seen; 2020 has certainly been hectic.

Purchase Requisition vs Purchase Order in Review


In an industry like procurement, there are a lot of different terms that sound very similar, and even have similar functionality. Understanding the nuances between these terms is integral to finding success as a procurement professional.

Procurement Software Implementation in 3 Easy Steps


Procurement and sourcing teams are some of the busiest departments of any organization. All year round they are working round the clock to ensure that goods & services for the business are procured in a timely manner from reliable suppliers to keep operations running smoothly.

A Vendor Management Guide for Procurement Leaders


As discussed in previous articles, there are various roles throughout a procurement team. While each role serves a specific function – they are all independently crucial to the overall success of the procurement team.

Webinar on Demand: Resilient Supply Chain Network Design

Speaker: Bhomik Jain, Paul van Nierop & Aanand Pandey

Companies around the world are struggling to cope with COVID-19 disruption. Are supply chain networks resilient enough to weather the storm? Watch this webinar to learn about our research findings in the realm of network design and optimization, and uncover the capabilities you need to build resilience and agility.

How Contract Management Software is Changing the Game


Contract management software (CMS) is revolutionizing the way sourcing and procurement teams do business. Gone are the days of tedious paper-based contracts. Technology has changed how contracts are signed, negotiated, and renewed.

The 5 Major Benefits of e-Tendering


Before implementing a procurement software, or a series of procurement technologies just because it’s industry standard; it’s important to understand the reasoning, and the benefits. e-tendering is a term slightly more common in foreign markets, and is essentially interchangeable with e-RFX.

The Role of a Sourcing Specialist on a Procurement Team


As with any sort of team that is composed of various people with varying obligations, procurement teams are normally staffed with a spectrum of professionals and specialists.

The Source to Pay Life Cycle in a Procurement Year


A lot of people often ask us, ‘What is source to pay process?’ Many people are under the impression that procure-to-pay and source-to-pay is the same thing. And we can see why it may be easy to confuse the two.

The Best Sales Forecasting Models for Weathering Your Goals

Every sales forecasting model has a different strength and predictability method. It’s recommended to test out which one is best for your team. This way, you’ll be able to further enhance – and optimize – your newly-developed pipeline. Your future sales forecast? Sunny skies (and success) are just ahead!