The Science and the Art of Procurement

ivalua

As we move towards a new decade is the emphasis in the procurement world changing – are we going to see a new age, where the Art of Procurement comes to the fore? Much of our focus in the last twenty years or so within the procurement profession and within our specific procurement functions has been on what we might call the “Science of Procurement”. Author: Peter Smith , Managing Director at Procurement Excellence Ltd.

Minority Business Enterprises – Diversity of Supply Article

Claritum

Claritum Article - Procurement Blog. Many medium sized businesses are also looking at diversity in their supply chains, for the reasons explained in this article. A global US based banking organisation recently contracted with a Woman-Owned Small Business (Highroad Press) to outsource Print procurement and at the same time realise savings through early payment discounts for suppliers. See additional article on managing diversity in the supply chain: [link].

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Digital Procurement Improves Supply Chain!

Supply Chain Game Changer

Digital Procurement article and permission to publish here provided by Katherine Barrios of xeneta.com. The Hackett Group has recently released their analysis of their procurement benchmarking database. Important Digital Procurement Trends. What Is Digital Procurement?

Diversity of Supply Article – US centric

Claritum

Claritum Article - Procurement Blog. Many medium sized businesses are also looking at diversity in their supply chains, for the reasons explained in this article. A global US based banking organisation recently contracted with a Woman-Owned Small Business (Highroad Press) to outsource Print procurement and at the same time realise savings through early payment discounts for suppliers. See additional article on managing diversity in the supply chain: [link].

Procurement Terminology is a Mess!

Supply Chain Game Changer

Procurement language article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. From one Procurement organization to the next, terminology differs. Procurement is a function, that is undergoing transformation; technologically and ideologically. Maybe we are camouflaging procurement with language: if no-one else understands what we do (or say) we will be safe from being replaced or consumed by other functions.

Featuring Our 12 Best Procurement Articles!

Supply Chain Game Changer

Procurement is a core function in every single company. Whether purchasing goods or services to support the company’s product offering or purchasing goods or services to support the infrastructure and operation of the company, Procurement is key. Depending on the type of industry you are in the Procurement of goods and or services can be the largest, or one of the largest, expense areas. What Exactly is Procurement? What Exactly Is Procurement?

Procurement Interview Questions & Answers

Supply Chain Game Changer

Article and permission to publish here provided by Nikita S at [link]. Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Which are the key Procurement metrics?

Project Based Procurement

Claritum

Claritum Article - Procurement Blog. Project and Category Procurement Differences. Table of the key differences between Project and Category based procurement. Types of activity suitable for Project based procurement. The inherent challenges of project-based procurement. Characteristics of good Project Procurement activity. Associated articles. Project-based procurement occurs when there is a specific project activity and goal.

Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. But there is a profoundly significant Procurement value chain. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Procurement is strategic! Now is the time for Procurement to SELL!

When is it Time to Invest in Procurement Technology?

Jaggaer

Or it may be an executive mandate driven by a leadership change or the arrival of an individual who understands the earnings contributions or growth that a well-run procurement organization can deliver to an enterprise. No Time Like the Present for Procurement Technology.

Freight Procurement Tips with Trent Morris

Logistics Bureau

WHAT ROLE CAN PROCUREMENT PLAY ON FREIGHT EXPENDITURE? Let us listen to our favorite purchasing and procurement consultant, Trent Morris, as he gives tips on freight procurement. Watch the video below: Related articles on this topic have appeared throughout our websites, why not check them out? Robobyrne: Procurement Tips. Supply Chain Secrets: What is Procurement vs. Purchasing?

The Hitchhiker’s Guide to Digital Procurement!

Supply Chain Game Changer

Digital Procurement article, and permission to publish here, provided by Sam Jenks at kodiakrating.com. Navigating the complexity of the global supply chain as a procurement professional can sometimes feel like taking a walk through the Amazon without a compass, or entering into outer space without an oxygen tank. It’s important that procurement teams take into account the new risk reality and challenges that face them, their organizations and their value chains.

What are the Different Jobs in Procurement?

Logistics Bureau

We have received a lot of questions regarding the different roles in procurement. Good thing we got a long-time friend and our Supply Chain & Procurement Consultant, TRENT MORRIS, to tell us more about it in the video below! Related articles on this topic have appeared throughout our websites, why not check them out? Robobyrne: Procurement Tips. Supply Chain Secrets: What is Procurement vs. Purchasing?

Technologies that Impact Procurement

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Claritum Article - Procurement Blog. Technologies and Procurement Table. There are a lot of articles around on what Procurement needs to do; how Procurement needs to change; and how technology will fundamentally change Procurement. This article summarises, as a table, technology areas that impact on Procurement that you might need to investigate. 2 Technologies and Procurement Table. Virtual Procurement Agents.

A Seat at the table – Procurement’s Search for Enhanced Visibility and Influence

HICX Solutions

There are many who have argued that Procurement needs a seat at the C-suite table to ensure that data projects and digital transformation initiatives receive the attention that they require for success. Procurement’s Search for Enhanced Visibility and Influence. “We

Procurement & Suppliers: Paying Attention to Terms & Conditions to Keep Supplier Relations Postitive

Cerasis

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". As I’ve mentioned in previous articles supplier relations are an essential component of a sustainable and functional supply chain. Procurement

Procurement and the Need for Speed

ivalua

In my last two articles ( here and here ) I’ve been talking about the need for Procurement to think about how we can move beyond our historical transactional role and embrace approaches to help drive competitive advantage and real value for our organisations. What is also particularly interesting given the topic of our last article is that much of the innovation which led to this improvement came from close collaboration between the teams and their supply chains.

A Procurement Resolution – Realize Your True Potential

ivalua

For Procurement leaders in particular there couldn’t be a better time to do so. A recent study by the Hackett Group found that only 63% of Procurement organizations have even developed a plan for digital transformation. A Forrester study on enabling smarter procurement found only 22% believe their reporting and analysis is where it should be and only 22% that they have the required agility to respond to changing requirements. You can also see this article on LinkedIn.

Procurement Terminology is a Mess!

Supply Chain Game Changer

Hey Procurement! Article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. From one Procurement organization to the next, terminology differs. Procurement is a function, that is undergoing transformation; technologically and ideologically. Maybe we are camouflaging procurement with language: if no-one else understands what we do (or say) we will be safe from being replaced or consumed by other functions.

Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Procurement is strategic! Now is the time for Procurement to SELL! The Procurement Value Chain Continuum. Procurement 101.

Procurement Technology – What it can and can’t replace in a Manufacturer’s Journey Towards Supply Chain Resilience and Agility

ivalua

A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. Supplier Data is at the core of every procurement activity, and it is critical for those dealing with direct materials in manufacturing.

4 Reasons to Integrate Order-to-Cash & Procure-to-Pay

OneSCM

Bundling order-to-cash and procure-to-pay functions not only gives companies a holistic view of their supply chain operations, but also improves decision-making and business growth. In some instances, sales can become risky; procurement staff maintain higher buffer stock levels as a safety net. For example, if the company’s dealings with a supplier are limited to procurement, those KPIs will be the primary focus on measuring the supplier’s performance.

Procurement Challenges Condensed

Claritum

Claritum Article - Procurement Blog. I took on the challenge of writing a condensed version of all the current Procurement challenges. Basing this on the many articles I have read covering this subject. I rapidly came to the conclusion that these articles were excellent at the helicopter view of the challenges, however seemed unable to apply categorisation to the challenges. These two procurement domains have distinctly different challenges.

Apple Procurement Leader Hails from NC State

NC State SCRC

Today’s WSJ front page shares the important role of one of Apple’s top senior executives who runs much of the procurement and supply chain activity for Apple – Tony Blevins. The WSJ article goes on to mention how Mr. Blevins has adapted some shrewd negotiation approaches to challenging situations where cost savings were critical to preserve Apple’s margins in an increasingly competitive smart-phone environment. He wanted to weaponize procurement in a short-term way.

Procurement Experiences, Trends and the Future!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? Secondarily, we will include information from other procurement professionals and procurement firms about their experiences, what they forecast, and what they are seeing. We have worked in hundreds of different industries and spend areas over many years in thousands of procurement projects. The Next in Procurement.

The Divergent Procurement World

Claritum

Claritum Article - Procurement Blog. Related articles. The purchase of goods and services can be split into two primary procurement domains: The Strategic Core purchases that enable an organisation to produce their product or service (called Strategic Spend by many organisations). The non-strategic products and services that need to be procured for individuals to carry out their job function. Applying procurement resources to establish suitable contracts.

Procurement Bots – Transformer or Destroyer?

Supply Chain Game Changer

Article created and originally published by, and permission to publish here provided by, “SK” Sanjeev Kumar Roy. Check out What Exactly Is Procurement? The last few years have seen a lot of real (and over) hype associated with the emergence of Software Robots (called Bots/Bot) which are disrupting the legacy procurement processes involving human interface. The following characteristics make a process more-bot-able: Which areas of Procurement are more “Bot-able”?

IKEA’s IWAY Lessons For Procurement!

Supply Chain Game Changer

IKEA article originally published by, and permission to publish here provided by, Sam Jenks at [link] . Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management. If you don’t have a Supplier CoC, I’d strongly suggest looking into developing one with your sourcing and procurement team. It’d be interesting to hear your thoughts of this article/IWAY.

Procurement Transformation Delays – The Role of Personality!

Supply Chain Game Changer

Article provided to Supply Chain Game Changer by Katalin Brennan at Eyvo E-Procurement. We’ve all heard of the need for Procurement to embrace the Digital Transformation for many years. There are few procurement-specific personality surveys available. However, I am aware of one from Pierre Mitchell that found the Myers-Briggs ESTJ type is the dominant one in procurement with over 20% of survey takers. Time to Look into the Future of Procurement!

Featuring Our 10 Best Warehouse Order Fulfillment Articles!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Our latest “Featuring” series article covers the topic of Warehouse and Distribution Centre order fulfillment. So take some time and check out our very best Warehouse and Distribution Centre fulfillment articles! Check out another of our “Featuring” articles. The link below is to our top Procurement and Purchasing articles. Featuring Our 12 Best Procurement Articles!

Lean 50

Category-based Procurement

Claritum

This is the third article in a series. The first two articles covering Bespoke Procurement and Project-based procurement. Category procurement is perhaps the most common break down for. Procurement teams and certainly is the most focused on in terms of. written articles. Often these articles are focused on specific. It would be a very long article if I were to try to cover category by category and explore all aspects. procurement.

How to Build a Digital Procurement Ecosystem in 8 Minutes!

Supply Chain Game Changer

Article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. In this post, I’d like to suggest a mapping of a digital procurement ecosystem, dive into the necessity for these functionalities, and draw some conclusions as to how these focus areas can drive performance in an overall procurement organization. When building a digital procurement and sourcing ecosystem, it’s important to dig into your existing procurement process.

5 steps for Procurement to impact on financial results

Claritum

Claritum Article - Procurement Blog. Address Procurement Strategy. Focus Procurement on supplier optimisation. Don’t lose Procurement’s focus on costs. Keep Procurement up to date. Procurement is a complex multidisciplinary team activity that crosses all areas of the business. The variables and complexities of purchasing products and services, from basic supplies through to strategic purchases, make Procurement a key resource within the business.

Digitized Procurement: Your Setting-off Point to Autonomy

Jaggaer

In five to ten years, procurement in many of the world’s leading companies will be “truly digital”. They will have succeeded in transforming their procurement organizations to leverage artificial intelligence-based technologies to achieve autonomous procurement. Autonomous Procurement: The Reality versus the Hype. Over the coming months, we will identify and describe the four levels of development stages on the road to autonomous procurement.

7 Trending Business Practices Disrupting Procurement!

Supply Chain Game Changer

7 KPIs Your Procurement Team May Be Ignoring! Article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. Procurement is a business function that has undergone a lot of change in the last few years. As a believer in the power of procurement, this recognition makes me happy. But, we can’t begin our journey towards the future of procurement excellence in a ’93 Escort. Subscribe Here! Email Address.