article thumbnail

What Are the Differences Between Procurement and Purchasing in Manufacturing?

OptiProERP

Acquiring goods from vendors and suppliers is one of the critical and routine tasks for manufacturers. Otherwise, it can adversely affect a company’s bottom line. Procurement and purchasing are terms interchangeably used in manufacturing but are distinct activities. Steps in the Procurement Process 1.

article thumbnail

Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game. Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The Top 5 Manufacturing Blogs of the 2018

GlobalTranz

Today, we start our series highlighting our top blog posts of the year! That then allows us to create more of that kind of content so our award winning blog This year we will feature the top blog posts by page views in the following categories: Manufacturing , Logistics , Freight , and the Supply Chain.

article thumbnail

People in Manufacturing: Procurement

QAD

Procurement, also sometimes known as purchasing, is the group responsible for acquiring components, services, and other materials to manufacture a company’s products and to keep the operation running. But corporate procurement isn’t quite as simple as placing an order on Amazon or another web marketplace.

article thumbnail

The Power of Purchase Order Collaboration: A Game-Changer in Managing Direct Spend

Logistics Viewpoints

However, recent disruptions have highlighted the vulnerabilities of these complex networks, resulting in significant financial losses for companies. It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks.

article thumbnail

Why Organizational Alignment is Critical to the Supply Chain Response

Supply Chain Shaman

Mondays are my day to post my Shaman blog and compose a podcast. The Shaman blog is now over eleven years old. Over 28,000 readers read this blog. We are trying to assess the value of a network in managing contract manufacturing.) The metrics defining success in manufacturing and procurement do not align.

article thumbnail

The Dangers of Single Sourcing in Your Supply Chain

Resilinc

Avoid the pitfalls of single sourcing and learn strategies to build a more resilient supply chain. Yet, within the pursuit of efficiency lies a lurking peril: single sourcing. The pandemic was a wake-up call to the dangers of single sourcing. What is single sourcing and sole sourcing?