Precoro

OCTOBER 24, 2022

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.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Analytics Software Sourcing Strategies 98

Precoro

AUGUST 14, 2023

More and more companies are acknowledging the importance of centralizing and optimizing their procurement operations. One of the ways to accomplish this is to establish a procurement team to streamline ordering by centralizing purchases and improving supplier relations. What are the duties of a procurement manager?

Negotiating Skills 98

Negotiating Skills Purchasing Skills Buyer Training Procurement Solutions 98

SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started?

Purchasing Training 81

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 81

Precoro

AUGUST 26, 2021

How do you call it when you order, say, stationery for your office? Purchasing? Or procurement? Although quite similar, procurement and purchasing are two distinctive processes , and understanding the difference between them can help facilitate your organization’s success. Purchasing and Procurement at a Glance.

Pricing Training 98

Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 98

Supply Chain Shaman

DECEMBER 15, 2022

When reviewing strategy decks for supply chain teams, I often see statements like “move from a functional-silo’d focus to a drive a more holistic response.” ” Or “push a shift from a focus on cost to drive value?” To help, I will ask, “How do you define value? Functional Metrics.

Manufacturing Procurement 397

Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Procurement Analytics 397

ivalua

DECEMBER 14, 2020

What we learned about agility and resilience can be applied to future-proof the source-to-pay (S2P) process and help organizations meet any new challenge with confidence. The job of sourcing professionals is to understand the risk in the supply chain and manage it so they can react quickly when a problem occurs.”

Procurement Solutions 130

Procurement Solutions Optimal Sourcing Manufacturing Procurement Optimization Software 130

GlobalTranz

FEBRUARY 17, 2016

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. In the first part I put forth 6 areas of focus in order to reduce logistics costs. A Focus on Inventory Control Begets Warehouse Cost Reductions.

Cost Reduction Strategies 120

Cost Reduction Strategies Inventory Reduction Waste Reduction Vendor Strategies 120

ThroughPut

DECEMBER 4, 2022

In the past two years, there has been a shift in how supermarket & retail grocery supply chains function. A report by Acosta, a US-based sales and marketing agency, on grocery store trends for 2021 indicates that 46% of people now use online delivery more than they did before the pandemic.

Inventory Reduction 52

Inventory Reduction Resource Reduction Cost Reduction Strategies Sourcing Strategies 52

GlobalTranz

OCTOBER 5, 2018

An omnichannel retail strategy is the new norm in today’s supply chains. The days of managing channels on an individual basis are over, and consumers are using multiple devices and e-commerce platforms for nearly all purchases. In fact, 78% of U.S. In fact, 78% of U.S. GET YOUR COPY HERE. Download White Paper.

Modeling Software 196

Modeling Software Sourcing Strategies Cost Reduction Strategies Supply Chain Planning Software 196

Precoro

NOVEMBER 7, 2022

In order to run a successful business, you need a dedicated procurement team to obtain these essential goods and services, ensure timely delivery, and nurture good relationships with your vendors. Paying for offices, utilities, technology subscriptions, and cleaning services is also part of the procurement team's responsibility.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Solutions Optimal Sourcing Procurement Analytics 52

EC Sourcing Group

FEBRUARY 8, 2023

Legacy sourcing methods work against you. From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business. Sourcing Strategies in Procurement: What Is Traditional Sourcing?

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Sourcing Strategies Negotiating Skills 52

Supply Chain Shaman

JANUARY 31, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Source E2open Shipping Index). Focus on Cost. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. We started the conversation with sourcing.

Procurement Analytics 221

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 221

Elementum

FEBRUARY 7, 2024

Accuracy : Reduces the error rate associated with human intervention. Cost Reduction : Cuts operational costs by minimizing manual workload. This automation significantly streamlines operations by reducing manual intervention in routine tasks and ensures both consistency and accuracy across all processes.

Sourcing Strategies 78

Sourcing Strategies Supply Chain Software Optimal Sourcing Predictive Analytics Software 78

QAD

JULY 21, 2022

Common results of the bullwhip effect are excess inventory and associated cost increases, lost revenue, unnecessary capacity and a less-than-optimal customer experience. Price fluctuations and discounts resulting in increased purchases. How to Counteract the Bullwhip Effect. Integrated Supplier Management.

Price Reduction 93

Price Reduction Inventory Reduction Cost Reduction Strategies Optimal Sourcing 93

Unleashed

OCTOBER 4, 2023

The order fulfilment process covers every step required to get goods to the people who purchase them, from the moment a customer places an order to when they receive their purchase. But cost-saving isn’t the only benefit of an optimised fulfilment process. It also ensures that resources are used efficiently.

Inventory Reduction 52

Inventory Reduction Sourcing Strategies Resource Reduction Cost Reduction Strategies 52

Procurement Academy

JUNE 30, 2022

During the 1970’s oil crisis and the rampant inflation that followed, skilled procurement professionals were in demand more than ever before. While professionals have superior technology and analytics on their side, the challenges associated with procurement in a high inflation environment remain the same – and so do the solutions.

Procurement Analytics 95

Procurement Analytics Procurement Solutions Procurement Purchasing Skills 95

Supply Chain Shaman

FEBRUARY 7, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Source E2open Shipping Index). Focus on Cost. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. We started the conversation with sourcing.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195

EC Sourcing Group

OCTOBER 4, 2022

Strategic Sourcing Solutions to Enhance Your Bottom Line. Strategic sourcing is vital to procurement and the supply chain overall, as it allows companies to gain the lowest cost of a good or service while minimizing supply chain risk. What Is Strategic Sourcing?

Negotiating Skills 52

Negotiating Skills Purchasing Skills Sourcing Strategies Procurement Solutions 52

SCMDOJO

SEPTEMBER 18, 2023

Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. Using a variety of synonyms can help to enrich communication, eliminate redundancy, and broaden your vocabulary.

Negotiating Skills 99

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 99

OptiProERP

NOVEMBER 3, 2022

Digital transformation helps businesses improve costs, efficiencies, customer satisfaction, and profitability. Forty-two percent of SMBs consider digital transformation a central part of their organizational strategy. And how do you ensure the most significant impact for your organization? But where do you start?

Sourcing Strategies 52

Sourcing Strategies Inventory Reduction Cost Reduction Strategies Waste Reduction 52

ThroughPut

DECEMBER 8, 2023

If there’s any piece of technology or analytics that can help with the most advanced data-driven decision-making in the supply chain right now, that’s prescriptive analytics. It is the most promising form of analytics in the market currently. What Is Prescriptive Analytics in Supply Chain? How should the supplier perform?

Prescriptive Analytics Software 52

Prescriptive Analytics Software Optimal Sourcing Modeling Procurement Analytics 52

Precoro

JULY 8, 2022

One should keep in mind that every transaction has an additional hidden cost in labor and overheads, such as the time spent sourcing products, tracking deliveries, matching invoices, and overseeing suppliers. In the article, we look critically at the role of the purchasing manager and discuss how to determine the value of hiring one.

Purchasing Skills 98

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 98

Unleashed

MARCH 28, 2021

Supplier Relationship Management (SRM) is a management concept frequently used by procurement and supply chain professionals. SRM helps to determine how the organisation’s suppliers either contribute to or detract from the business. Reduces costs. Cost reductions. Optimises performance.

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Negotiating Skills 111

EC Sourcing Group

JUNE 28, 2022

“Tail Spend” refers to all of the high-volume, low-cost expenses a company incurs that aren’t typically managed, let alone optimized. Tail spend examples include purchases that are often too small to go through procurement, such as basic office supplies or employee gifts. What Is Tail Spend? Identify Your Tail Spend.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Analytics Software Optimization Software 52

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. It involves sourcing, negotiation, ordering, delivery, and payment for goods or services. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Procurement Academy

OCTOBER 19, 2023

A crucial part of successful procurement strategies is the art and science of negotiation. Procurement negotiation refers to a buyer (usually from a company) and a seller (usually from a supplier) working together and discussing the likes of pricing, terms, conditions, and other aspects of a procurement contract.

Negotiating Skills 52

Negotiating Skills Pricing Training Negotiate Pricing Purchasing Training 52

Enterra Insights

FEBRUARY 17, 2022

Without a holistic vision and strategy, technologies purchased to enhance one city system might not be compatible with technology utilized to enhance other urban systems. … Information from 500 different sources, such as traffic cameras, 911 data, radar detectors and weather stations, feeds into Chattanooga’s digital twin.

Sourcing Strategies 130

Sourcing Strategies Expense Reduction Cost Reduction Strategies Resource Reduction 130

Unleashed

JANUARY 29, 2024

This article looks at the SKU rationalisation process, how to utilise SKU rationalisation analysis for your business, and some essential best practices for implementing it. This helps them simplify their inventory management, reduce storage and distribution costs, and offer a more consistent and appealing product range to their customers.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Waste Reduction Resource Reduction 52

Supply Chain Game Changer

APRIL 21, 2020

A “Don’t Touch” Strategy will Dramatically Lean out your Supply Chain! The overarching strategy for limiting exposure to, and spreading of, the Coronavirus is that of Social Distancing. One approach is to develop and deploy Don’t Touch Supply Chain strategies! How can we support both of these needs?

Waste Reduction 91

Waste Reduction Inventory Reduction Cost Reduction Strategies Material Savings 91

Unleashed

MARCH 16, 2021

Having grown sufficiently, you may find your SME business now has the need for a dedicated purchasing manager – and perhaps even a purchasing department. So if you’re a business owner who is wondering how to run a purchasing department, then check out our practical guide below. Goals of purchasing.

Purchasing Skills 59

Purchasing Skills Manufacturing Procurement Procurement Solutions Procurement Analytics 59

Unleashed

MARCH 6, 2024

This guide breaks down supply chain agility – its benefits and the best-practice strategies for achieving it. Effective supply chain management helps you build an agile supply chain meaning you have greater flexibility to meet customer expectations, reduce operational costs, and gain a competitive edge in your industry.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Supply Chain Planning Software Supply Chain Design Software Supply Chain Software 52

Supply Chain Shaman

SEPTEMBER 20, 2015

Source: Dictionary.com. As I sit on the back row, I hear platitudes (A number of concepts positioned at a high level without clarity on how to execute). When I hear companies discussing the implementation of a customer segmentation strategy, I ask a series of questions: Who is your customer? How do they buy from you?

Inventory Reduction 150

Inventory Reduction Cost Reduction Strategies Sourcing Strategies Supply Chain Strategy 150

QAD

MAY 23, 2023

Ninety percent of companies have an ESG strategy in place and chances are good yours does, too – or will very soon. The goal, from a manufacturing perspective, is clear: learn how to do more with less as efficiently as possible while maintaining profitability and complying with due diligence legislation.

Procurement Solutions 91

Procurement Solutions Supply Chain Planning Software Supplier Management Modeling Software 91

Supply Chain Shaman

MAY 21, 2024

In follow-up qualitative interviews, one of the largest issues with organizational alignment was metric definition and a clear definition of supply chain excellence. For example, a cost improvement in one function could raise the costs in another. Error is error, but is it the most important metric? What Drives Value?

Procurement Analytics 374

Procurement Analytics Optimal Sourcing Metrics Supply Chain Planning Software 374

EC Sourcing Group

APRIL 26, 2022

How to Gauge the ROI of eTendering. The eTendering process is an integral part of procurement and the overall supply chain. eTendering, also known as eSourcing , is simply the act of conducting procurement online—namely, receiving and sending tenders using an online platform, like tender process software. Auditing and tracking.

Optimal Sourcing 52

Optimal Sourcing Material Savings Cost Reduction Strategies Procurement Solutions 52

QAD

JUNE 2, 2022

The first World Sustainable Procurement Day was held this year on March 21. With the increasing focus on sustainability, I guess we should not be surprised that sustainable procurement now has its own day on the calendar. It’s often been reported that consumers have been the primary factor in pushing for change in this area.

Manufacturing Procurement 93

Manufacturing Procurement Purchasing Skills Sustainability Cost Reduction Strategies 93

Ware2Go

OCTOBER 21, 2021

Learn how to meet expectations without sacrificing bottom line revenue with these 8 simple tips. Why Shipping Costs Matter. Led by Amazon, the largest ecommerce companies have reset shoppers’ expectations for freight costs and delivery time. Customer expectations for shipping are higher than ever.

Cost Reduction Strategies 52

Cost Reduction Strategies Expense Reduction Inventory Reduction Resource Reduction 52