6 metrics tips and tools to benchmark P2P Digital Transformation

ivalua

Data is beyond critical to Procurement Operations. It’s everything, and the burden falls on procurement leaders to capture pertinent data to build good teams, track performance and show value. Now with Digital Transformation as a mandate, Procurement officers must also find ways to measure their digital progress. Here’s a look at some of the Procure- to-Pay metrics procurement leaders should watch in order to better understand their digital progress.

Why Now is the Perfect Time to Benchmark and Bid Your Carrier Rates

Talking Logistics

In today’s highly competitive marketplace, understanding how your company’s procurement strategy and results compare with industry peers is critical. Whether you need to inform management that your performance is superior or has improved, or identify opportunities in the procurement process to drive additional economic value – there is no better time to benchmark and bid your carrier rates than now. We believe there is no such thing as a bad outcome from a benchmark event.

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10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.

Cerasis

However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. Use External Benchmarking Tools. Many suppliers and manufacturers may have existing, internal analytics tools, but using these tools for benchmarking processes may be ill-fated. Cloud-based systems offer many benefits throughout the procurement supply chain, reports Procurious HQ. Consider Cyber Security Concerns in the Procurement Supply Chain.

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?

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. It’s important that procurement teams take into account the new risk reality and challenges that face them, their organizations and their value chains. Benchmarking.

Transportation Procurement in India

CHAINalytics

By Linsa Godwin Sathiamoses | Consultant, Transportation, Chainalytics | Procuring transportation services is an important activity on the supply chain calendar. It is also one area where every procurement manager thinks he or she is doing a good job, until proven otherwise. The post Transportation Procurement in India appeared first on Chainalytics.

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A Trucking Economics Lesson: How rates will respond to market changes in 2020

CHAINalytics

So much so that our freight benchmarking group developed a new … The post A Trucking Economics Lesson: How rates will respond to market changes in 2020 appeared first on Chainalytics. Blog Feature Freight Market Intelligence Consortium Supply Chain Consulting Transportation contract freight rates contract rates freight benchmarking Freight Rates Transportation Benchmarking transportation economics Transportation Procurement trucking

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!

8 Uses for Supply Chain Benchmarking and Their Most Valuable Benefits

Logistics Bureau

If not, you might be surprised at the many ways supply chain benchmarking can be used to understand performance, identify areas for improvement and actually turn those improvements into reality. You don’t have to wait any longer to learn why supply chain benchmarking is increasingly winning advocates in the commercial arena. 8 Most Beneficial Uses of Supply Chain Benchmarking. Let’s begin with one of the most commonly cited uses for supply chain benchmarking.

How to Procure Full Truckloads in Tight Capacity

Cerasis

These rates will have natural implications for smaller shippers seeking to lower overall transportation and freight spend, and paired with a “blurred lines between peak shipping and shopping seasons,” shippers will experience increasing trouble when trying to procure full truckload capacity. The Solution: Shippers Must Use Out-of-the-LTL-Box Strategies Shippers must take a more strategic approach to truckload procurement, explains CH Robinson via Supply Chain 24/7.

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. Alex Saric, Chief Marketing Officer, Ivalua.

10 Tips Shippers Can Use to Reduce Costs in LTL Procurement with Better Request for Pricing Bidding

Cerasis

at Cerasis, we know a thing or two about the nuances of LTL procurement. LTL procurement is something we do very well. So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. 10 LTL Procurement Cost Cutting Tips. Saving money on less-than-truckload or LTL procurement is a laudable goal, except when operational problems eclipse savings gains. Logistics LTL ltl procurement

50th Symposium Procurement and Logistics

Supply Chain Movement

50 th Symposium Procurement and Logistics. More than 2,200 decision-makers from procurement, SCM and logistics. Intensive networking and benchmarking. >> Events 5oth symposium procurement and logistics Berlin BME buyers Germany hans-dietrich genscher helmut schmidt interconintal logistics logistics experts ProcurementDate: 11-13 November, 2015. Location: InterContinental, Berlin (Germany). Organisation: BME Verband. URL: www.bme.de/en/all-events-en/50th-symposium-purchasing-and-logistics/.

Global Supply Chain & Procurement Summit 2015

Supply Chain Movement

Global Supply Chain & Procurement Summit. parity.com/global-supply-chain-procurement-summit/. Achieving this goal relies mainly on the Procurement and Supply Chain Management team. Companies need to adopt strategies that can deal with the dynamism and complexity of today’s environment, ensuring that procurement and supply chain functions can be used as the first line of defence for business operations. Date: 15-16 October, 2015.

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.

What is Virtual Procurement and Why Should You Care?

Supply Chain Game Changer

Then you need Virtual Procurement! We are too small and can’t afford to hire a full-time procurement person. We are busy and just don’t have the time to focus on procurement.”. “We This is a sure sign of the growing level of understanding and sophistication of procurement.

How to Build a Digital Procurement Ecosystem in 8 Minutes!

Supply Chain Game Changer

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. The Digital Procurement Ecosystem. Building your own Digital Procurement Ecosystem.

Why Procurement Transformation Can Fail!

Supply Chain Game Changer

What’s the Difference between Procurement and Purchasing? Why Procurement Transformation Fail article created by, and permission to publish here provided by, Jill Button at [link]. What do I mean by Foundation in Procurement Transformation? Subscribe Here! Email Address.

Manage Procurement Spend Like It’s Your Own Business!

Supply Chain Game Changer

Hey Procurement! Procurement. And all of this is managed by Procurement personnel. In What Exactly is Procurement? we offer the definition of Procurement from PurchasingInsight.com which considers that “Procurement is the overarching function that describes the activities and processes to acquire goods and services” That is a very broad, and all-encompassing definition and scope of responsibility. Procurement Responsibilities.

Benchmark your Organization – Take Part in the 2020 Procurement Performance Excellence Survey

Jaggaer

Procurement has developed rapidly in recent years, and with the application of transformative technologies such as artificial intelligence and new challenges such as Covid-19 and changing global trading relationships, the rate of change is likely to accelerate. . So, w hat is the current state of best practice in procurement? And there is good reason to take part in the 2020 Procurement Performance Excellence (PPE) Survey.

The State of Supply Chain Trends Part II: AI, Procurement, & the New Lean

Cerasis

From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. Gathering this information via new systems also enables quality benchmarking across the supply chain. Procurement’s Role Did Become More Important. The start of any product or service is procurement, explains Jonathan Webb of Forbes Magazine , which refers to the obtaining of raw materials needed to create a product.

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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. It is procurement at the heart of any impact on P&L.

Is Inventory Waste or an Asset?

Supply Chain Shaman

This morning, unexpectedly, I found myself in the middle of a debate between my two panelists on the Planning Benchmarking Panel for the Summit. We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. The Supply Chain Insights planning benchmarking work for next year kicks off in January.

COVID-19 Procurement Response: Your Questions Answered

Jaggaer

JAGGAER’s Amenallah Reghimi and Mic h ael Roesch recently partnered with Philip Ideson , founder and managing directo r at Art of Procurement , to bring procurement professionals a presentation on response tactics for the current global crisis. That means being able to get live pricing updates from your suppliers and from the broader market so that you can do live benchmarking. I think this will also help procurement teams learn to be agile.

Biggest Challenges Being Faced In Procurement Today

CormSquare

But the question is, what are the other main challenges in procurement being faced today? This survey was done on 324 senior procurement lea ders fr om 33 countries offering a deep insight into current procurement preoccupations. Nobody said controlling indirect spend was easy.

Seasoned Leadership in Action™ – An Interview with Kristie Syndikus, VP Procurement at Maple Leaf Foods!

Supply Chain Game Changer

This interview is with Kristie Syndikus, VP of Procurement at Maple Leaf Foods. It was very easy to see early on that Kristie had a great aptitude for Procurement and Sourcing. Kristie Syndikus, VP Procurement at Maple Leaf Foods. Together as a team we broke all boundaries for end-to-end process support, we exceeded all industry benchmarks on cost productivity and yielded unprecedented quality levels. leadership #procurement #commoditymanagement #purchasing.

Transportation Procurement: Building a Foundation for Success

Talking Logistics

When you think about the overall transportation management lifecycle, procurement is one of the most critical components because it plays a role in planning, execution, benchmarking, carrier relationship management, and so much more. If you don’t get procurement right, the rest of the process suffers. So, what are some leading practices in getting transportation procurement. Read more Transportation Procurement: Building a Foundation for Success.

Tariffs and Procurement: A perfect match?

Proxima

According to recent Procurement Leaders research , 40% of category managers are anticipating risk associated with tariffs. How Procurement fits into the equation. With the ever-evolving changes in international trade between nations, procurement personnel should be aware of any modifications that may affect a category or commodity being sourced. This is where Procurement comes in. The post Tariffs and Procurement: A perfect match?

Imbalanced Investments: Transportation Spending vs. Procurement Technology (Part 1)

Supply Chain Network

According to the latest American Shipper benchmark survey, transportation spending increased in 2012 – according to 75 percent of respondents – remaining unscathed by budget cuts. Shockingly, though, companies are failing to invest in the necessary procurement tools to manage spend and optimize their transportation networks. In my next post, I’ll hit on the top strategies to improve the procurement process and uncover hidden savings in your logistics network.

3 Reasons Why Procurement Transformations Fail!

Supply Chain Game Changer

What’s the Difference between Procurement and Purchasing? Over these past 28 years of my career in Procurement (yes I started when I was 12), I’ve had the privilege and pain of seeing, not just procurement, but many different types of Transformation initiatives succeed and, unfortunately, fail. There are many reasons why Procurement Transformations fail, however, the below 3 keep coming up time and time again. Failure to look beyond Savings for Procurement Value.

How to Use Big Data Analytics to Drive Business Value in Procurement Forward (Part 1)

Jaggaer

JAGGAER InsideSpend Thought leadership Series – In this blog series, we profile leaders in the procurement industry. We hope their insights and experiences inspire you to achieve greatness in procurement. A conversation with Walter Charles, Chief Procurement Officer at Biogen. . Procurement Trends in Manufacturing. How are they impacting the procurement organization and proficiency? Procurement Resources Supply Chain manufacturing

A Diverse Supply Base Isn’t About Procurement…It’s A Leadership Issue!

Supply Chain View from the Field

I conducted benchmarking across a subsample of firms in the utility industry, to identify how supplier diversity is captured for this report. Contract Management Corporate Social Responsibility Emerging Issues in Supply Chain Procure to Pay Procurement Sustainability Strategic Sourcing Supplier Diversity Supplier Relationship Management Supply Chain ManagementI was recently involved in a survey of best practices in establishing a diverse supply base.

Two Timely Learning Events Not to Miss: Spotlight On Human Rights In The Supply Chain, New Laws, Benchmarks, Tools

EcoVadis

Human rights-related risks have re-emerged to grab the spotlight as a top issue for procurement and supply chain professionals in 2016. For example Recently two new benchmarks focused on company performance on human rights have been released: The Corporate Human Rights Benchmark announced a few weeks ago a pilot of its rating system to benchmark the performance of large companies on human rights issues in their supply chains.

9th Edition Global Procurement and Supply Chain Management for the Oil and Gas Industry

Supply Chain Movement

We will be discussing topics including how best to manage increased costs, how to benchmark procedures that are critical to managing large expenditure and strategies for developing a supply chain in new geographical locations. Capitalise on valuable insights into how procurement can save money, not just through reducing costs but by creating value within the supply chain. Events Amsterdam global procurement Marcus Evans oil and gas Radisson Blu Supply Chain Management

Why Our Goal Should Not Be an Integrated Supply Chain

Supply Chain Shaman

The focus is outside-in, from the customer back, and demand-orchestrated across the silos to guide procurement decisions. planning benchmarking supply chain analytics Supply chain planning digital innovation planningThis week I spoke at an SAS Global Analytics Summit on the connected supply chain. In my view, the connected supply chain is very, very different from the integrated supply chain.