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Is Your Procurement Data Fit for Purpose?

ivalua

Every year, the International Association for Data Quality Governance and Analytics (or IADQGA) runs their Data Quality and Governance study. The simplest definition of quality,” Joe Yacura said, β€œis whether or not the data meets your requirements.” The post Is Your Procurement Data Fit for Purpose? appeared first on Ivalua.

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AI This. If Only.

Supply Chain Shaman

As I look at the financials, I question what the value could be if we got serious about innovation through new forms of analytics. Procurement Operates On An Island. Business process outsourcing and procurement automation evolved to make the procurement organization more efficient and less effective. The reason?

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What is Supply Chain Decision Support? Are We Rearranging Deck Chairs on the Titanic?

Supply Chain Shaman

When deploying enterprise decision support applications, there are many implementations and lots of hype but few clear and consistent definitions. When he speaks of the supply chain, he means procurement. We can never have great discussions unless we are clear on definitions. What do they have in common? This is his world.

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Optimize Your Tail Spend with Analytics

EC Sourcing Group

Tail spend examples include purchases that are often too small to go through procurement, such as basic office supplies or employee gifts. Tail spend in procurement is important, but is seldom discussed compared to other procurement and supply chain processes. This is vital when using analytics to optimize your tail spend.

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Inventory Carrying Cost: Formula, Definition & How to Calculate

Unleashed

Ordering costs: Also known as setup costs or procurement costs, ordering costs are the expenses incurred by a business each time it places an order for inventory or materials from suppliers. These costs are associated with the process of initiating and managing orders and include various activities and expenses related to purchasing goods.

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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. Lack of Transparency.

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Supply Visibility: More Important Than Ever. Yet Elusive.

Supply Chain Shaman

In our recent survey on analytics, today 74% of companies are attempting to improve supply chain visibility (as shown in Figure 1). The problem with supplier visibility is bookended into procurement processes that have gone back, not forward over the last decade. What we built on the whiteboard is the solution that we need today.