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. This combination of goals is achieved through various procedures and processes that can be standardized, customized, and fulfilled all through procurement software. With the help of knowledgeable employees empowered to use it of course. RFQ is […]. The post RFQ Meaning: Understanding a Request for Quote Procedure appeared first on ProcurePort Blog.

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

Facebook Causes Continue to Show Little Promise as Fundraising Tools

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

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.

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.

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.

7 Benefits of an Inventory Management System


Are you one of the small and medium businesses (SMBs) that does not have an inventory system in place? It is shocking to imagine that there are companies operating without an inventory management system in this day and age. But even more perplexing are the staggering numbers – as many as 46% of small and […]. The post 7 Benefits of an Inventory Management System appeared first on ProcurePort Blog. Supplier Management

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.

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.”

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.

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.

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.

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.

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!

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.

Procurement Automation and Why Looking Beyond the Technology is the Key to Success


ProcurePort invited Procurement Insights industry thought-leader Jon Hansen to share his thoughts on automating procurement. Here is what he had to say: There remains a significant gap between the Haves and Have nots in the procurement space.

e-Auction Bidding in the Procurement Process


In an age where innovation is running rampant, there are constant updates to industry standards, tech-implementation, and countless other business activities that are normally conducted within a week.

Building a Strong e-Auction Strategy in 5 Steps


As procurement software and e-procurement solutions become more popular, simply using e-procurement systems isn’t enough in order to compete. To really optimize the return on e-procurement, an organization should dedicate the necessary resources to become masters of every step.

Supply Chain Planning Maturity – How Do You Compare to Peers?

Today's supply chains are networked, global ecosystems. An event upstream in a different country or region can cause considerable disruption downstream. The COVID-19 pandemic is an extreme example of how this unfolds in practice. How prepared are supply chain teams to react and recover, from a planning maturity stance? Download this report to get exclusive insights on planning maturity!

Your 5-Step Procurement Spend Analysis Template


Conducting a spend analysis of your company spend is a crucial step in reducing cost in your organization.

What is a Source to Pay Process? Your Procurement Guide


A source to pay process, or S2P, is a more comprehensive and robust version of a procure-to-pay process. While procure-to-pay processes usually begin with identifying internal needs and submitting departmental requisitions, the source to pay process takes this a step further and adds a higher-level element into the procurement operation. Rather than beginning with departmental […]. The post What is a Source to Pay Process? Your Procurement Guide appeared first on ProcurePort Blog.

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. ProcurePort has one of the best contract management software on the market: a cloud-based option that’s secure, easy-to-use, and offers customizable contract templates. […].

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. In other words, e-tendering just refers to procurement and tendering operations and procedures that […]. The post The 5 Major Benefits of e-Tendering appeared first on ProcurePort Blog. e-Tendering

B2B Pocket Playbook: End-to-End Guide to Sales Enablement

Sales enablement is the strategic process of providing sales teams with the content, guidance, and mentorship needed to engage targeted buyers. It’s all about equipping sales professionals with the tools they need to put their best-selling foot forward. And if sales teams want to continuously sell better -- and faster -- their sales enablement process must have a game-winning strategy. It's time for you to start selling smarter - and hitting your sales number - with the best B2B database in the market. Get started today.

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. Each member on a procurement team has a specific set of obligations and duties that need to be fulfilled in order to keep the entire procurement department operating […]. The post The Role of a Sourcing Specialist on a Procurement Team appeared first on ProcurePort Blog. Strategic Sourcing

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. Procure to pay is an end-to-end process that involves sourcing, placing orders for goods with […]. The post The Source to Pay Life Cycle in a Procurement Year appeared first on ProcurePort Blog. Procure-to-Pay

3 Contract Management Security Risks to Prioritize


We all know that the procurement business can be tough, and one of the toughest parts of it is recognizing the biggest security risks in contract management. Vendor contracts are a top priority for anyone in procurement.

Avoiding Procure to Pay Cycle Pitfalls


The procure to pay cycle is made up of a series of processes and procedures all related to the procurement, and payment for goods and services. Companies and organizations of all sizes use procurement teams to secure the goods and services needed to build goods or provide services to the end-customer. As with any department […]. The post Avoiding Procure to Pay Cycle Pitfalls appeared first on ProcurePort Blog. Procure-to-Pay

Supply Chain Resilience in the Face of Uncertainty

Speaker: Aanand Pandey, Supply Chain Analyst & Consultant, AIMMS

This short video explains how scenario modeling can help you improve supply chain resilience and your ability to respond and recover quickly from disruptions. Looking at scenarios side by side provides valuable insights that makes it easier to evaluate impact on your operations, ability to service customers and margin, and the best options to restart supply when supply lanes reopen.