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Supply Chain Resilience Strategy: Everything You Need to Know

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The resilience of any supply chain is based on its ability to withstand shocks and recover quickly. The impact of unexpected disruptions should not result in wholesome halting and devastating losses to the affected businesses.

The Five Components of Supply Chain Management

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What are the components of supply chain management? We cannot discuss these components without first talking about supply chain management. The growing supply chain management (SCM) software market speaks volumes about the ever-increasing importance of SCM within procurement.

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Supplier Management Model: Avoid Supply Chain Disruptions

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Are you looking for a resilient supplier management model that will allow you to reduce supply chain disruptions? You’re not alone. Chief Procurement Officers and their teams have been on edge now for over a year, operating as best as they can give the present circumstances, but it hasn’t been easy.

What Are the Benefits of Procurement Software?

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Procurement software has opened the door wide for transformation to take place within organizations bringing about automation, improved spend visibility, and spend control. The benefits have been numerous and ramifications felt along the supply chain.

Supply Chain Planning Value Matrix 2021

Holistically analyze your value chain for a resilient supply chain, even in times of crisis. Discover more about why the CCH® Tagetik Supply Chain Planning solution was named a leader in the Nucleus Research Supply Chain Planning Value Matrix 2021 report.

5 Critical Supply Chain Risk Mitigation Principles for Sourcing

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Are you thinking of developing a new sourcing risk management plan? Wondering how to better mitigate supply chain risk when sourcing? Or just keen to explore some of the best risk management practices Chief Procurement Officers (CPOs) can adopt?

Benefits of Category Management in Supply Chain

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During the COVID-19 pandemic, global and domestic supply chains were stressed harder than ever, illuminating the unexpected fragility of our economic supply chains.

What is Meant by Intelligent Sourcing?

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The coronavirus pandemic has revealed major weaknesses in the retail supply chains of numerous organizations. The worldwide supply chain disruption and shock exposed vulnerabilities that made many CPOs question the resilience of their supply chains.

6 Benefits of Supplier Performance Management

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Today’s supply chains are robust, global, and dynamic. Companies are relying more and more on third-party suppliers on the other side of the world for critical raw elements and materials.

Why Procurement and Supply Chain are Smarter Together

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There is a tad bit of skepticism about the amalgamation of procurement and supply chain management. You see, the hesitation comes over how procurement and supply chains can merge.

Transforming Supply Chains for Higher Performance and Resiliency

Today, just 8% of companies have the digital maturity required to achieve resilience and mitigate supply chain disruptions, as per a new HBR Analytic Services - GEP study. What can enterprises do to accelerate digital transformation? Read the full report now to find out!

Getting Real and Resilient in Direct Procurement Execution

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Supply is a huge part of the economy. Making sure that materials are getting where they need to so that businesses can continue to operate is a vital aspect of a thriving economy. The last year demonstrated this first-hand for society.

How COVID-19 is Reshaping the Pharmaceutical Supply Chain

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Getting FDA-approved medication to patients in a cost-effective manner every time is one of the objectives of key stakeholders across the United States pharmaceutical supply chain. It appears like a very simple thing to do.

What is Direct Sourcing in Recruiting?

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What is direct sourcing in recruiting and how does it affect your procurement efforts? When it comes to purchasing and supply chain management, sourcing plays a pivotal role. Sourcing is a key component of procurement.

Reporting and Analytics – How Effective Are They in Procurement?

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What is the role of an e-procurement report? Where does analytics fit in for procurement teams? How important are they for organizations? Reporting and analytics can highlight problems along the supply chain and provide solutions for procurement issues while giving direction for future efforts.

Is Digital Procurement Transformation Delivering on the Promise?

Is your digital transformation working, or is it still a work in progress? Download this report, from a GEP-sponsored survey from ISM, to check your performance and see how your peers are reaching their transformation goals.

The Role of E-Procurement in Supply Chain Management

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A procurement strategy is made up of a myriad of components, processes, and systems. In broad scope, procurement is essentially an organization-wide effort. From accounting and finance to inventory, to production and internal operations; procurement affects every aspect of a company across the board.

5 Types of Supplier Management Tools That Make Life Easier

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The procurement landscape has changed a lot since the onset of the coronavirus pandemic. Chief Procurement Officers (CPOs) have had to adapt quickly to disruptions in local, regional, and international supply chains.

Agile Procurement: What It Is and How to Implement

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Are you looking for ways to improve your procurement strategy in 2021? There is no doubt that we are living through precarious times that have disrupted local, regional, and global supply chains forcing many procurement officers to find ways to adapt.

Procurement and Supply Chain Management: What’s the Difference?

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Here’s a question for you: Do you know the difference between procurement and supply chain management? We ask because the terms are so often misused. The better you understand the role of each of these practices, the more effectively you can communicate with stakeholders along the value chain.

4 Reasons to Break Up With Excel and Move to Digital Supply Chain Planning

Trust your supply chain forecasts: adopt a predictive intelligence platform to outperform your supply chain goals, overcome challenges of spreadsheet-based planning, reduce risks, enhance customer satisfaction, and improve the bottom line.

The Differences Between Direct vs Indirect Procurement

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Father of the Portfolio Purchasing Model, Peter Kraljic, a former McKinsey & Co. director is heralded as being the first to propose that enterprises should regard purchasing as a separate operation in supply chain management.

3 Limitations of e-Auctions and How to Overcome Them

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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

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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.

RFQ Meaning: Understanding a Request for Quote Procedure

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

Just in Time vs. Just in Case: What’s the Way Forward for Supply Chains?

Just-in-time supply chains worked just fine — until they didn’t. Is more inventory the answer? It’s not a binary solution. Read this latest GEP paper to learn how enterprises can ensure adequate supplies without running excess inventory.

Enhancing the RFP Process for a Stronger Supplier Relationship

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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.

Purchasing and Supply Chain Management in 2020

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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.

How Digitized Procure-to-Pay Benefits You

ProcurePort

A new digital era is emerging, with procure-to-pay (P2P) now developed as a digital process. P2P services enhance collaboration between buyers and suppliers and generate an increased value to the supply chain. Going digital with the P2P process allows buyers and suppliers to develop a relationship that benefits both parties. Cloud-based P2P software platforms act […]. The post How Digitized Procure-to-Pay Benefits You appeared first on ProcurePort Blog. Procure-to-Pay

Which Document Typically Triggers the Three-Way Match?

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Three-way matching is a common procurement business practice. It provides a clear way to confirm, verify, and validate the purchase order, the receiving document, and the supplier invoice. It paves the way for the supplier to be paid.

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Rethinking Supply Chain Risk: New Threats Demand New Tools and Strategies

Companies like Bayer AG and Akamai coped with recent supply chain disruptions much better than their peers. What did they do differently? Read this new HBR – GEP report on new tools and strategies to mitigate supply chain risk.

Automated Invoice Processing Software: How it Works

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Automated invoice processing software is the electronic process of extracting the invoice data that are entering a system and seamlessly inputting this data in your accounts payable or ERP systems, allowing payments to be issued within minutes or seconds.

The Benefits of Using Purchase Order Software

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A purchase order is an initial offer by a buyer to the seller, indicating the quantities, types, quality, and agreed prices for products or services. The purchase order is used to control spend, and provide an overview of all the requested supplies and their product details.

5 Reasons to Automate Invoice Processing

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What are the associated benefits of automated invoice processing?

What is 3-way matching and why do you need to implement it?

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A 3-way matching process is the comparison of a purchase order with the goods receipt note and supplier invoice before honoring said invoice. It determines whether a payment should be made, in full or in part.

Supply Chain Evolution: Digital Transformation Is the Way Forward

A new study by The Economist shows that 54% of enterprises want to rethink their supply chains. Make them more agile and resilient. How would supply chains evolve from here? And what should supply chain leaders be doing differently? Download the report today!