Remove Blog Remove Manufacturing Remove Manufacturing Procurement Remove Strategy
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.

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. Procurement and purchasing are terms interchangeably used in manufacturing but are distinct activities. In this blog, we will see how purchasing and procurement differ.

Insiders

Sign Up for our Newsletter

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

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

Procurement on the Thames: Ivalua’s London Summer Symposium

ivalua

Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.

article thumbnail

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

Logistics Viewpoints

It is crucial for organizations to understand the importance of Purchase Order collaboration to effectively manage their direct spend, optimize operations, and mitigate risks. Configure to Order: This strategy involves customizing standard products based on customer specifications.

article thumbnail

Global Wide Manufacturing Output Strengthens in March 2024

Supply Chain Matters

Global Manufacturing Output Levels Strengthen Global-wide manufacturing levels as depicted in the J.P. Morgan Global Manufacturing PMI® ended March on an optimistic footing. Of further significance was the March report indication that the rate of growth in global manufacturing output has accelerated to a 21-month high.

article thumbnail

5 Ways Businesses Are Uncovering Success With AI In Manufacturing

ToolsGroup

Automation is at the center of modern manufacturing businesses, with companies exploring the possibilities of artificial intelligence in improving workflows and profitability. Industrial engineers incorporate these technologies in designing and fabricating advanced manufacturing systems. How AI Is Changing the Manufacturing Industry.