Precoro

MAY 22, 2023

Strong companies depend on a range of hardware and software solutions to support key business processes like customer service, financial management, and supply chain operations. This article encompasses the best practices for planning and executing successful IT procurement strategies. What is IT procurement?

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

OptiProERP

SEPTEMBER 22, 2022

Saving on operational costs is one of the biggest goals for manufacturing companies. Most manufacturers look to streamline systems, reduce production costs, and increase profitability without sacrificing product quality. Understanding the Manufacturing Cost. Direct labor cost – front-line worker wages.

Cost Reduction Strategies 52

Cost Reduction Strategies Waste Reduction Expense Reduction Vendor Strategies 52

Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

Optimal Sourcing 97

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 97

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

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

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

Precoro

JULY 16, 2023

The purchasing department plays a critical role in the success of an organization. Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Precoro

NOVEMBER 13, 2023

Financial efficiency, cost savings, and profitability undoubtedly fall under the main priorities of upper management, regardless of a company’s industry. However, only 30% of CPOs claim they have achieved their cost-saving targets in 2023. Why Is Purchase Price Variance Important?

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 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

ThroughPut

DECEMBER 4, 2022

Using an AI-driven retail replenishment software and planning solution that tracks inventory can help planners easily forecast and balance store demand to provide accurate SKU level replenishment. This ensures enhanced stock availability and reduction of lost sales.

Inventory Reduction 52

Inventory Reduction Resource Reduction Cost Reduction Strategies Sourcing Strategies 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

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. GET YOUR COPY HERE. Download White Paper.

Modeling Software 196

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

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

Logility

AUGUST 24, 2023

Your Comprehensive Guide to Production Planning Software The benefits of production planning software vs scheduling are about the granularity of the plan: capacity plans (or master production schedules) are not granular and factor in less granular things, like high level capacity, forecasts, inventory, and transfer times.

Supply Chain Planning Software 147

Supply Chain Planning Software Supply Chain Design Software Demand Planning Software Forecasting Software 147

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

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

Logistics Viewpoints

MARCH 8, 2021

When companies implement enterprise software solutions, they often label that implementation as being part of their company’s digital transformation. But implementing new software does not digitally transform anything if the people that are supposed to use that software cannot do so effectively.

Supply Chain Design Software 258

Supply Chain Design Software Supply Chain Planning Software Supply Chain Transformation Modeling 258

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

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

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

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

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.

Optimal Sourcing 52

Optimal Sourcing Material Savings Cost Reduction Strategies Procurement Solutions 52

ivalua

APRIL 13, 2021

In part 1 of this blog I looked at how procurement can actually create new revenue opportunities. Here I’ll take a look at two other ways that procurement can help support growth. Even in indirect purchasing, giving suppliers more flexibility in how they meet requirements can increase savings and sustainability.

Procurement Solutions 130

Procurement Solutions Procurement Sourcing Strategies Resource Reduction 130

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

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

Procurement Academy

FEBRUARY 6, 2024

Supplier relationship management is a business strategy utilized by organizations to strategically build relationships with their suppliers that are mutually beneficial. When implemented and managed correctly, it’s a strategy that can lead to large-scale operational improvements, cost optimization, and reduced risks across the supply chain.

Negotiating Skills 59

Negotiating Skills Vendor Strategies Material Savings Cost Reduction Strategies 59

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

Elementum

FEBRUARY 7, 2024

Gone are the days of tedious, manual processes; today, AI-powered solutions are streamlining operations, enabling businesses to focus their human resources on strategic initiatives rather than routine tasks. Accuracy : Reduces the error rate associated with human intervention.

Sourcing Strategies 78

Sourcing Strategies Supply Chain Software Optimal Sourcing Predictive Analytics Software 78

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

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

QAD

FEBRUARY 7, 2023

Being able to score each supplier based on the factors that affect your success gives you visibility into the overall value of each supplier and how to strategize and optimize the relationship. Those in charge of SRM must establish a strategy that generates a beneficial relationship for both parties.

Price Reduction 97

Price Reduction Material Savings Vendor Strategies Inventory Reduction 97

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 14, 2024

It refers to the process of purchasing, storing, and tracking the various goods required to build a product. This guide for manufacturers explains how it works and explores the most effective ways to manage inventory in manufacturing. Inventory management in manufacturing can be influenced by the type of marketing strategy used.

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Inventory Reduction Inventory Management 52

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

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. Reduce Dimensional Weight When Possible. Establish Rigorous Packout SOP’s.

Cost Reduction Strategies 52

Cost Reduction Strategies Expense Reduction Inventory Reduction Resource Reduction 52