Remove Analysis Remove Inventory Remove Purchasing Training Remove Sourcing
article thumbnail

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.

article thumbnail

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Role-Based Training for Procurement & Supply Chain Teams

Procurement Academy

A generic approach to training is not the solution to the increasing range of challenges facing procurement teams. This leads to professional growth and supply chain efficiency – just two benefits of role-based training , of which there are many more.

article thumbnail

Rise. Or Rise-up?

Supply Chain Shaman

Source: SAP Website The Discussion Not Held on the Stage The main event at the Forum was not on the main stage. Source: AI Query What To Do? While the traditional wisdom is buying more and more SAP applications to have one throat to choke, this assumes that anyone can get their hands around a greedy throat. .”

article thumbnail

Shouldn’t GenAI Mean New Gen?

Supply Chain Shaman

These include problems where centrality, connectivity, and path analysis play a key role in the analysis. Let’s start here: Data Analysis. The translation of ripple effects of short supply, pricing, quality issues, and freight shifts affects how to source, make, and deliver processes should align. Test and Learn.

article thumbnail

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. Low-Quality Documentation.

article thumbnail

Demand Planning: Whipped And Chained by Tradition

Supply Chain Shaman

If S&OP efforts were that effective, don’t you think that we would have made more progress against inventory levels, margin, and growth? Only 2% of companies are pushing forward in our Supply Chains to Admire analysis. Or planned orders to purchase orders?) Go to the source. And how do we measure it? (Is