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.

Purchasing Training 82

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 82

GlobalTranz

OCTOBER 16, 2015

, at Cerasis, we know a thing or two about the nuances of LTL procurement. We've negotiated rates with all the major carriers and maintained them. 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.

Negotiating Skills 120

Negotiating Skills Price Reduction Cost Reduction Strategies Optimal Sourcing 120

SCMDOJO

APRIL 29, 2024

Sign Up for SCMDOJO Pro Membership Importance of Effective Supply Chain Management Supply chain management is not just about moving products from point A to point B – it’s a strategic approach that encompasses the entire network of processes involved in delivering goods and services to customers.

Supply Chain Planning Software 85

Supply Chain Planning Software Optimal Sourcing Supply Chain Design Software Supply Chain Software 85

The Logistics & Supply Chain Management Society

OCTOBER 15, 2023

The Approach to Effective Freight Procurement by LSCMS Shippers’ Council Container shipping procurement faces a multitude of challenges shaped by global events, industry shifts, environmental mandates, and technological advancements. At the heart of it all, an effective procurement strategy remains paramount.

Optimal Sourcing 130

Optimal Sourcing Procurement Sourcing Strategies Freight 130

Precoro

JULY 16, 2023

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

SCMDOJO

MARCH 19, 2024

In essence, a structured supply chain department as described in the blog can help you deliver the right supply chain strategy and goals which helps cost reduction, improve customer service, on-time delivery, and better working capital. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel!

Optimal Sourcing 78

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 78

ivalua

AUGUST 17, 2021

What does Procurement mean? An organization’s Procurement function is responsible for managing spend, in other words the buying goods and services that are used to make the products sold to customers as well as the purchasing of products and services used to run the organization on a day to day basis. What is Direct Procurement?

Manufacturing Procurement 130

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

Supply Chain Shaman

FEBRUARY 18, 2021

Re-implement demand planning, trade promotion management, and revenue/price management together to improve the baseline demand signal. Initially, the output was published to procurement to design strategic buying strategies. Procurement became an island–isolated from the demand signal except for MRP.

Supply Chain Planning Software 297

Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 297

Talking Logistics

JUNE 30, 2015

In the last decade, many companies, especially those with manufacturing operations, have evolved direct materials sourcing from an administrative function to a strategic procurement process. As a strategic process, transportation procurement may still seem very tedious and challenging.

Negotiating Skills 100

Negotiating Skills Manufacturing Procurement Material Savings Procurement 100

EC Sourcing Group

MAY 17, 2023

Spend classification can often go unnoticed, despite its critical influence over successful procurement strategy. Accurate classification of products, services, and suppliers forms the foundation for improved decision-making, cost optimization, and enhanced supply chain management.

Optimal Sourcing 52

Optimal Sourcing Negotiating Skills Negotiate Pricing Sourcing Strategies 52

SCMDOJO

AUGUST 16, 2023

Introduction The global business landscape has witnessed an increasingly fierce competition, pushing companies to seek effective strategies to maintain and enhance their competitiveness. Among these strategies, the role of supply chain capability stands out as a key factor in driving success.

Inventory Reduction 77

Inventory Reduction Vendor Strategies Supply Chain Planning Software Price Reduction 77

Precoro

MAY 19, 2023

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

Procurement Analytics 98

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 98

Precoro

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Supply Chain Game Changer

NOVEMBER 3, 2022

Thoughts on Future Challenges and the Strategic Direction of Supply Chain! Modern bookkeeping systems are a perfect tool for monitoring the financial information of your company that might help you improve supply chain cost control. As a result, you can eliminate paper-based processes and reduce errors due to manual data entry.

Supply Chain Planning Software 115

Supply Chain Planning Software Supply Chain Software Negotiate Pricing Negotiating Skills 115

Unleashed

MARCH 28, 2021

Supplier Relationship Management (SRM) is a management concept frequently used by procurement and supply chain professionals. Part of an overall supply chain management strategy, SRM focusses on optimising efficiencies and creating value for all stakeholders. Reduces costs. Cost reductions. Risk mitigation.

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Negotiating Skills 111

ivalua

FEBRUARY 24, 2021

Recent data from the Hackett Group reveals that AP teams that provide self-service capabilities to suppliers can achieve Superhero status by reducing inquiries by 49% and saving 50% on master data management costs. Identify and nurture strategic supplier relationships. 6 Steps to empowering your Suppliers .

Cost Reduction Strategies 130

Cost Reduction Strategies Resource Reduction Negotiating Skills Optimal Sourcing 130

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

SCMDOJO

MAY 30, 2024

Supply Chain Department – A Typical Structure Decoding the Procurement Department: A Comprehensive Guide to Roles and Responsibilities The Purpose of the Logistics Department Structure A well-structured logistics department is essential for any organization that deals with product movement and delivery.

Optimal Sourcing 71

Optimal Sourcing Pricing Training Logistics Network Optimization Software Inventory Reduction 71

Supply Chain Game Changer

NOVEMBER 19, 2018

From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. While every function must help your company grow and prosper when the heat is on uninformed Executives can view Supply Chain as merely a Cost Centre. Pressures for Cost Reduction in Supply Chain.

Negotiating Skills 84

Negotiating Skills Cost Reduction Strategies Purchasing Skills Inventory Reduction 84

Procurement Academy

MARCH 12, 2024

What is strategic cost management? In brief, strategic cost management is implementing effective cost optimization strategies that lead to improved profitability, operational efficiency, and resource allocation. It’s an approach that many businesses need.

Optimal Sourcing 69

Optimal Sourcing Negotiating Skills Purchasing Skills Buyer Training 69

Unleashed

MARCH 21, 2021

The procure to pay process is complex and far more than simply making a phone call, or sending a few emails to arrange the purchase of goods. Strategically approaching the procure to pay process can see your company reap the rewards. In this guide, we’ll cover: What is the procure to pay process. Negotiating.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

GlobalTranz

SEPTEMBER 23, 2021

Such congestion naturally leads to bottlenecks in planning drayage and eventual increases in the total cost of shipping, not to mention an added strain on trucking as the bottlenecks grow.? . Increasing fuel costs also play into the available capacity woes.? ? on-highway diesel fuel prices are up $0.898 from the end of August 2020.

Prescriptive Analytics Software 308

Prescriptive Analytics Software Optimal Sourcing Pricing Training Negotiating Skills 308

Locus

JUNE 3, 2022

billion metric tons—the emissions have rebounded in 2021 and 2022. Decarbonization, which means reducing the amount of carbon in greenhouse gas emissions, can help in improving our present condition. Transportation was redirected to be used in providing first aid, leading to supply chain bottlenecks, shortages and price hikes.

Negotiating Skills 52

Negotiating Skills Negotiate Pricing Purchasing Skills Optimal Sourcing 52

Logistics Bureau

APRIL 4, 2022

Whether your company is a big or small player in terms of shipping volumes, and regardless of your chosen transportation modes (road, rail, ocean, air), the health of your bottom line depends in no small part on the competitiveness of your freight prices. So how can you be sure you’re getting the best freight rates possible?

Benchmarking 69

Benchmarking Negotiating Skills Logistics Network Optimization Software Purchasing Skills 69

Taulia

OCTOBER 7, 2021

The procurement process is a critical business function, but how do you measure how effectively the process is managed in your business? Setting KPIs for your procurement department can help to demystify their performance and deliver insights into where improvements can be made. So which procurement metrics and KPIs should you measure?

Procurement Analytics 52

Procurement Analytics Procurement Solutions Optimal Sourcing Purchasing Skills 52

CormSquare

JANUARY 10, 2017

Subsequently, procurement tends to be an afterthought, when it should be approached strategically! Small businesses spend between 40% – 65% of sales revenue on procurement of inputs. Following are the 5 strategies that can help SMEs in nearly any phase of their procurement efforts. Technological Advancement.

Resource Reduction 50

Resource Reduction Cost Reduction Strategies Price Reduction Inventory Reduction 50

Logility

APRIL 2, 2020

Strengthening a negotiating position. Gaining consensus on strategic relationships. If you can’t identify an outcome and a strategy to relate to the KPI, then you’ll be wasting time on data collection and analysis. Most often, your measurements will require exceptions to handle strategic suppliers who have special status.

Negotiating Skills 157

Negotiating Skills Supply Chain Planning Software Supply Chain Design Software Purchasing Skills 157

Silvon Software

APRIL 23, 2019

Companies that focus on strategic sourcing can generate substantial economic value not just by eliminating waste, reducing costs and improving administrative efficiency, but also by building stronger supplier relationships that can make them more competitive, profitable and nimble. AT A HIGH LEVEL ….

Purchasing Skills 90

Purchasing Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 90

Proxima

DECEMBER 10, 2020

In a recent article, The Financial Times identified changes to bonus plans as adding non-financial metrics to bonus qualifications and excluding months of poor profits increased during the worst of the pandemic. Over the course of the pandemic, companies across the board were cutting jobs as a cost management strategy.

Expense Reduction 52

Expense Reduction Cost Reduction Strategies Price Reduction Negotiating Skills 52

Unleashed

JANUARY 3, 2023

But when your cash is locked wages, managing inventory , lines of credit, and other costs, it can slow down productivity – even bring it to a standstill. The cost of production outweighs your sales margins If the cost of producing a product outweighs the return it generates through sales, your manufacturing business will start to bleed cash.

Manufacturing Procurement 96

Manufacturing Procurement Material Savings Expense Reduction Inventory Reduction 96

SCMDOJO

JULY 24, 2023

The primary objective of contract logistics is to optimize the flow of goods, information, and capital throughout the supply chain, facilitating efficient and cost-effective customer demand fulfillment. Additionally, its strategic location in proximity to Germany, France, and the UK adds to its appeal.

Logistics Network Optimization Software 92

Logistics Network Optimization Software Optimal Sourcing Negotiating Skills Inventory Management Software 92

SCMDOJO

JUNE 6, 2023

It helps reduce costs, increases efficiency, and can enhance customer satisfaction. This has proven to improve cash flow since businesses avoid extra costs by excess inventory supply, and they also avoid not having enough products on hand. They can also negotiate better contracts, identify collaboration opportunities, and so on.

Optimal Sourcing 72

Optimal Sourcing Modeling Supply Chain Optimization Analytics Software 72

Precoro

SEPTEMBER 4, 2023

The cash conversion cycle (CCC), also called the net operating cycle, is a metric used to measure the efficiency of a company's cash management and liquidity. Negative impact on the company's stock price, credit rating, or ability to attract investment, as investors and creditors often assess the CCC.

Optimal Sourcing 59

Optimal Sourcing Negotiate Pricing Inventory Reduction Material Savings 59

4WL Consulting

JULY 8, 2015

The previous decade has seen many companies, mainly those handling manufacturing operations, change how sourcing of direct materials is executed – from an administrative function to a somewhat strategic procurement approach that has seen the creation of a new position “the Chief Procurement Officer.”

Negotiating Skills 100

Negotiating Skills Manufacturing Procurement Material Savings Optimal Sourcing 100

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

Procurement Analytics 16

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 16

Unleashed

OCTOBER 16, 2023

Raw material inventory management oversees the procurement, handling, and storage of raw materials. Without an effective system in placing for managing raw materials inventory , there’s a good chance you will end up overstocked – and pay extra in storage costs – or understocked and unable to produce goods when you need them.

Inventory Management Software 52

Inventory Management Software Material Savings Inventory Management Inventory Reduction 52

Supply Chain Matters

JULY 7, 2023

According to the June report summary , the primary driver of the latest decline was the inventory metric, which reportedly contracted 6.5 Consequently, the warehousing capacity metric increased a reported 6.8 Both metrics contributed to the overall contraction in the LMI along with contracting price levels for transportation.

Negotiating Skills 52

Negotiating Skills Logistics Network Optimization Software Inventory Reduction Negotiate Pricing 52