ProcurePort

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

ProcurePort

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.

5 Types of Supplier Management Tools That Make Life Easier

ProcurePort

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.

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Agile Procurement: What It Is and How to Implement

ProcurePort

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.

The Differences Between Direct vs Indirect Procurement

ProcurePort

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.

Test Your Knowledge of Sales & Operations Execution

Many supply chain professionals have already taken this assessment spanning across multiple industries and 20 countries. The 15-question assessment takes only 5 minutes to complete. Take it now to see how your S&OE process scores and benchmark it against peers. Responses are aggregated and kept anonymous. We hope it serves as a thought-provoking exercise to improve your approach!

3 Limitations of e-Auctions and How to Overcome Them

ProcurePort

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.

RFQ Meaning: Understanding a Request for Quote Procedure

ProcurePort

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

ProcurePort

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

Purchasing and Supply Chain Management in 2020

ProcurePort

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

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

Webinar on Demand: 3 Ways to Make Your Operational Execution More Robust With S&OE

Speaker: Sander van Lokven and N.S. Krishnan

S&OE provides an early warning system that helps business stakeholders sense and optimize their responses. This keeps the supply chain out of firefighting mode, smoothens relationships with customers and suppliers, and helps sustain margins by reducing the cost to serve.

Why do businesses need strategic sourcing?

ProcurePort

As things advance and evolve, they become more complicated. In biology, for example, it’s widely accepted that the very first organisms were single-cell organisms, the few arguments being that there was an even simpler organism that existed prior to that of the single-cell-organism.

What is Indirect Sourcing?

ProcurePort

There are two sides to every coin and every story. The world of procurement is often divided into two sections: indirect sourcing and direct sourcing.

How an Effective Category Strategy Can Improve Procurement

ProcurePort

The reason that local phone numbers are seven digits is actually psychological and scientific. The human brain, on average, is only able to remember between 6 and 9 digits in a sequence when only seeing or hearing that sequence once.

What is a Japanese Auction?

ProcurePort

Sourcing and procurement can be complex endeavors. This is why alternative negotiation approaches have been devised. You may already be familiar with the Dutch auction, Vickery auction, reverse auction, and multi-attribute reverse auction, but have you heard of the Japanese Auction?

Leading Advertising and Analytics Company Outperforms With a Graph Database

Xandr, a division of AT&T, has built an identity graph that connects information on people, households, and more. The company is using this graph to provide advertisers an ability to deliver commercials more successfully than ever before. Learn more.

What are Sealed Bid Auctions?

ProcurePort

Do you ever miss the old days of pen and paper? The lost art of letter-writing? Carefully folding a note full of beautiful flowing prose so it fits snugly into its envelope, only to be sent off to the eventual recipient.

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eRFP: What it is and How it Works

ProcurePort

The procurement industry is changing rapidly owing to the wide-spread adoption of new technologies. Procurement officers are embracing this change because automation is allowing them to be more efficient. An example of software that’s eased life for enterprises is eRFP.

What is a Dutch Auction?

ProcurePort

Auctions are a pillar of procurement. There is a wide variety of auctions that are used in procurement and each is slightly different or run with slightly different rules.

AI is Changing Sourcing and Procurement

ProcurePort

Technology inherently advances technology. This is a concept that results in an exponential growth in technological advancement and invention as more advanced technology becomes widely and readily available.

Perfect Delivery: The New Rules for Survival, Innovation, and Growth

As supply chain complexity increases, so do challenges to achieving the perfect order. ARC Advisory Group shares: hurdles faced in achieving the perfect order, opportunities to increase customer satisfaction and reduce costs, and how cloud SCM contributes to operational flexibility.

How to Choose a Procurement Service Provider

ProcurePort

Are you looking to streamline operations, improve procurement delivery, and generate savings? If so, you’re not alone. Procurement has become such an integral function of every enterprise warranting its own staff and strategy.

How to Effectively Manage Business Spend

ProcurePort

The phrase, ‘you have to spend money to make money’ is sort of a constant in the business world. Although, as with everything in life, there needs to be balance to the spending. This is where procurement comes into play.

Category Management Tactics and Execution

ProcurePort

No matter who is playing, a chess match is played one move at a time. However, the greats, the grandmasters and prodigy’s, they all play these matches far, far more quickly than that.

Hidden Benefits in the Source to Pay Process

ProcurePort

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.

Digital Order Fulfillment: The Game Has Forever Changed

Achieving cost-effective OTIF delivery across multiple channels requires a dynamic approach. Digital order fulfillment can help businesses adopt a more intelligent, agile, and holistic strategy that drives true optimization and customer loyalty.

Three Source to Contract Steps for Better Contract Management

ProcurePort

After enough observation, a pattern emerges among structures, natural ecosystems, scientific and philosophical theories, and even man-made concepts. One of these patterns is that each has a core. Something that is really at the heart of the matter.

Finding a Procurement Service that Fits Your Business

ProcurePort

Remember Goldilocks? The little lady who wandered into the forest and tested each porridge and each bed till she found just the right fit? Well, business professionals often feel like they’re Goldilocks, looking for the perfect solution that’s catered just to their specific needs.

8 Vendor Management Best Practices

ProcurePort

What are some of today’s top vendor management best practices? What vendor management pitfalls should you be watchful of? Which of these practices can improve your bottom line? We have scoured high and low searching for vendor management practices that will put you miles ahead of your competitors.

What Does the Future of Procurement Technology Look Like?

ProcurePort

The procurement industry is changing at a fast pace owing to the rapid development of new procurement technologies. With digitalization becoming the norm, Chief Procurement Officers (CPOs) have found it necessary to stay on top of the news regarding procurement software best practices.

Ocean Supply Chain Visibility: Adapting and Thriving in a Rapidly Changing Global Economy

Building off of the lessons and challenges of 2020, what are global businesses and supply chains doing in 2021 to go beyond survival and truly thrive?

Source to Contract: What does it mean?

ProcurePort

Language is one of those mysteries of life that we might never truly understand. Naturally, it’s occurred all over the world – advancing and evolving until it is what we know it as today.

How the P2P Cycle Impacts Business

ProcurePort

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.

What is RFP?

ProcurePort

What is RFP and what does RFP stand for? To those new to the procurement industry, RFP sounds a lot like RFI or RFQ. In fact, it’s a classic rookie mistake to use the terms interchangeably. We can hear you say, “But wait, are these terms divergent?

What is RFI?

ProcurePort

Request for information (RFI) is a prevalent business practice in the procurement industry. It provides a succinct way to gather information from various suppliers which can then be used to craft requests for proposals (RFPs) in the future.

GEP Outlook 2021 Report

It’s 2021, and many enterprises are still reeling from the unprecedented disruption of last year. Get a leg up with the GEP Outlook 2021 Report, featuring eight critical leadership themes that will help you navigate uncertainty and thrive in the new normal.