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

Procurement Analysis: a Game Changer for Purchasing Strategically

Precoro

Nowadays, procurement departments not only focus on the day-to-day buying operations but also search for the most efficient ways to go about them. To navigate complex and fast-paced markets, an agenda of spend analysis is introduced as a part of the procurement function. From whom are we buying? In what quantities are we buying?

Insiders

Sign Up for our Newsletter

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

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.

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

A Treatise on Dogs That Do Not Hunt

Supply Chain Shaman

A successful plan requires design, collaboration, simulation, what-if analysis, and closed-loop learning. I find successful teams learn more about operational potential through what-if analysis than wrote use of the first plan generated in a batch job. Many of our planners, lack training. What do we learn through gap analysis?

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

Spend Analysis: Best Practices

Precoro

The answer is simple: spend analysis. Read on to learn all you need to know about the definition, benefits, types, steps of implementation, and success tips for spend analysis. What Is the Spend Analysis Process? What Is the Spend Analysis Process? Informed means armed!