Top 4 Procurement Software Trends

EC Sourcing Group

However, it’s a good idea to keep an eye on procurement software trends , which can further boost productivity. Read on to learn more about the best procurement software and what you can add to your current software platform to help improve your process. Blog Procurement

The Future of Procurement Is Upon Us. Are You Ready?

ivalua

Niul Burton wrote a great article in Industry Week titled “Procurement 2025: 10 Challenges that Will Transform Global Sourcing”. For those of you who are executives in Supply Chain, Procurement or New Product Introduction/Development, this is a must read. Burton predicts a further evolution of what we are seeing already in the market—Chief Procurement Officer’s (CPO) roles are changing rapidly. We are not your father’s traditional Procure-to-Pay solution.

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Managing the Procurement of Promotional Goods and Services

Claritum

Claritum Article - Procurement Blog. Essential is to get the right specialist procurement technology in place. That is a specialist procure to pay solution built specifically to address this domain. different currencies and languages. In addition to being easy for employees to use, the procurement technology should also allow Procurement to establish and control suppliers and spending related to these suppliers. Contents. Introduction.

Supply Chain News on After Decades as Procurement Bad Guy, GM Changing its Heavy Handed Ways a Bit

Supply Chain Digest

Some Suppliers will be Able to Negotiate in Mid Contract as Material Costs, Currency Values Change

How Procurement Can Add Value To Supplier Master Data Management

ivalua

Master supplier data doesn’t just matter to Procurement. It plays a role in a number of necessary business functions and is a key enabler of automation throughout the Procure-to-Pay (P2P) process. Currency and country exposure — Decreases financial risks by accurately tying projected spend to the correct currency to facilitate hedging strategies. Inside the modern enterprise, a variety of groups use supplier master data, including not just Procurement, but also: .

Procurement: The new competitive advantage

Proxima

Procurement must emerge from the shadows as a key business enabler. Procurement as we know it, is dead. However, a new breed of procurement is emerging as organisations seek to be faster, more innovative and, above all, more agile. Macro-economic conditions are tough,” says Edward Winterschladen, managing director, Europe, for specialist procurement consulting firm Proxima. “It But many procurement approaches are still fairly traditional.”.

Consolidated Procurement for Decentralized Law Firms – Possible or not ?

Eyvo

Consolidated Procurement for Decentralized Law Firms – Possible or not ? Taking advantage both local and consolidated reporting using both the centrally reported currency and local currencies. This retains data integrity and security (where you may not want a user in London being able to run reports against the New York office’s cost centre) but also maintains, improves, shares and leverages ‘procurement domain knowledge’ around the enterprise.

What are Block Chains? – Jason Busch on the Future of Money, Trust and Transparency

NC State SCRC

Jason Busch provided a great view on Block Chains, and their impact on the future of funds in the supply chain, at the Global Procurement Tech Summit in Baltimore. Barter system led to commodity currencies. Increasingly complex trade economies, societies and governments led to paper money (the gold standard), and eventually to Fiat currency. But eventually the gold standard behind paper money wouldn’t scale and so we moved to fiat currency.

Create your own orchestrated Marketplace

Claritum

Claritum Article - Procurement Blog. Procurement's influence with an orchestrated Marketplace. This article looks at the use of business to business orchestrated Marketplaces and online catalogues to mitigate the people factor of any procurement process. People govern the success or failure of any procurement process automation. Although the suppliers can make changes, they do so with the approval of the Procurement team.

Consolidated Procurement for Decentralized Law Firms – Possible or not ?

Eyvo

Consolidated Procurement for Decentralized Law Firms – Possible or not ? Taking advantage both local and consolidated reporting using both the centrally reported currency and local currencies. This retains data integrity and security (where you may not want a user in London being able to run reports against the New York office’s cost centre) but also maintains, improves, shares and leverages ‘procurement domain knowledge’ around the enterprise.

Purchase Order Accruals in SAP S/4HANA

Bristlecone

Organizations procure a wide variety of consumables, goods and services to run their day-to-day operations. All currencies of general ledger accounting are supported. Venkata S. Palle, Principal, Global Practices, DiSC Execution, Bristlecone.

Emerging technologies impacting contract management in the Financial sector

NC State SCRC

At a major global bank, for instance, procurement is employing a dynamic discounting tool, that provide opportunities for cost saving as well as early payment discounts for supplier that require access to working capital. Second, the block chain immediately creates a settlement for the credit, using an internally generated cryypto-currency, with a defined value.

Sorting out Risk in FinTech Source Chains

NC State SCRC

A further complication arises because of the inability to correctly classify the project, supplier, and procurement transaction. And businesses don’t understand why procurement is taking so long, without a full understanding of the hundreds of steps that have to occur across the system that was designed by the bank, NOT by procurement. Further discussions reveal other insights into the risk standards set up by the OCC (Office of the Comptroller of Currency).

Supplier Financial Health: Don’t Wait for the Worst, Reach out and Talk!

Supply Chain View from the Field

This is particularly of concern in emerging countries, where major shifts in economic conditions bank lending rates, or currency issues increase the likelihood of supplier bankruptcy. BRIC Supply Chain Procure to Pay Strategic Sourcing Supplier Relationship Management Supply Chain Management Supply chain Relationships Supply Chain Risk Working Capital Management

Beyond Spend Analytics: Supplier Life Cycle Data

Supply Chain View from the Field

That is a whole process during the procure to pay process called reconciliation. Now think about millions of vendors, and different languages, different country codes, different product SKUs, and different currencies… This is making my head swim… This is going to take a lot more than a big Excel spreadsheet… Analytics Procure to Pay Strategic Sourcing Supply chain analytics Supply Chain Management

Vietnamese Dong Press Release

Claritum

Claritum Article - Procurement Blog. “With the Claritum system being accessible worldwide from the Cloud, we see many different currencies being used to transact purchases.” The Claritum platform supports any currency, however this is the first time we have seen the Vietnamese Dong.” ” Currencies supported. The Claritum platform supports all currencies: with administrators being able to display in any currency .

UK businesses fear for Christmas supplies as Brexit disruption hits

Manufacturing & Logistics IT

Fourteen percent of UK businesses believe it will be difficult to break even this Christmas as a result of currency instability and Brexit uncertainty, according to a survey of supply chain managers by the Chartered Institute of Procurement & Supply (CIPS

Blockchain Comes to the Freight Industry

Supply Chain Brain

If you can convince a bunch of transportation neophytes who know nothing about freight that a [crypto] coin can become the currency of the industry, then you can raise whatever,” he says. What’s more likely to happen in the long run is that businesses will fall back on traditional currencies and “fiat-based smart contracts” to fund blockchain efforts, Fuller predicts. Global Trade Management Sourcing/Procurement/SRM SC Planning & Optimization Home Page Latest News Home Page Slider

Struggling with bespoke purchases?

Claritum

Claritum Article - Procurement Blog. Claritum’s solution for bespoke procurement. Sourcing outside of procurement systems. Bespoke purchases are often sourced outside of an organisations’ standard procurement automation tools. Critical is the procurement automation technology used. This can either be standalone or integrated to your current procurement systems to manage Bespoke requirements. . 4 Claritum’s solution for bespoke procurement.

Will Supply Chain Planning Productivity be a Hot Topic in 2017?

ToolsGroup

So whether you call it “automated planning”, “lights out planning”, “low touch or no touch planning” or even “driverless supply chain planning”, reducing human intervention is gaining currency. Unmanned coffee stations transmit POS data every 15 minutes to help a highly autonomous planning system forecast demand, optimize inventory, and generate replenishment proposals for distribution and procurement.

Craig Reed from Dupont: Battle Tactics for Technology Innovation

NC State SCRC

A good friend, Craig Reed, presented this morning at the ISM Global Procurement Tech Summit. He has a long history in procurement, working Eaton, MWV, Delta, Deere, BMW and Honda, and he is also an ISM Board member. With a a merger comes expectations – the expectations is $3B of synergy from these two coming together – and a big expectation for procurement and sourcing. ” The big issues Dupont faces are oil prices, commodity prices, palm oil and currency.

Create your own orchestrated Marketplace

Claritum

procurement process. procurement process automation. of the organisation’s Procurement team. changes, they do so with the approval of the Procurement team. One of the greatest barriers to effective procurement automation is people. This mitigates one of the most common reasons for the failure of a procurement automation system: trying to create a. Procurement's influence with an orchestrated Marketplace. Introduction.

Struggling with bespoke purchases?

Claritum

Sourcing outside of procurement systems. Bespoke purchases are often sourced outside of an organisations’ standard procurement automation tools. Critical is the procurement automation technology used. This can either be standalone or integrated to your current procurement systems to manage Bespoke requirements. Plus, capable of controlling costs at all the levels of the process from sourcing to procurement through to invoicing. 1: Introduction.

Myopic and Hyperopic Supply Chain Planning

Logility

It combines data from sales, marketing, production, procurement, transportation and finance to create a powerful decision capability for all stakeholders. Finally, an IBP solution must work in various volumetric measures and in multiple currencies to ensure all planning requirements can be successful accomplished. Myopia , more commonly referred to as nearsightedness, is a medical condition in which one can see near objects but cannot see far objects clearly.

Myopic and Hyperopic Supply Chain Planning

Logility

It combines data from sales, marketing, production, procurement, transportation and finance to create a powerful decision capability for all stakeholders. Finally, an IBP solution must work in various volumetric measures and in multiple currencies to ensure all planning requirements can be successful accomplished. Myopia , more commonly referred to as nearsightedness, is a medical condition in which one can see near objects but cannot see far objects clearly.

Using Data to Improve Supply Chain Operations

Material Handling and Logistics

Data is the new currency of business. Depending on the use case, partnering with other business functions such as procurement, production, finance, or sales and marketing can also provide opportunities for innovation or, at the very least, relevant data to incorporate into supply chain analytics initiatives. Learn how to organize your data operations in alignment with supply chain strategy.

Data 131

Claritum eProcurement in Chinese Language

Claritum

Claritum Article - Procurement Blog. Bath, UK (March 3, 2020) – Claritum, a provider of cloud-based spend management solutions, today announced that the Claritum platform had processed the first of many transactions using a Chinese language (Mandarin) interface and Chinese Yuan as the currency. Global Enterprises can provide procurement access for their regional offices in their local language. Local currencies can be used.

EcoVadis at International Railway Union Sustainability Conference

EcoVadis

In addition to participating in the panel on Sustainable Procurement on day two, I was able to catch a few other sessions which set the context for how UIC and their railway business members are engaging in sustainability, and the clear opportunity for this industry to expand efforts to collaborate on sustainable procurement. EcoVadis joined the panel on day two “ Sustainable procurement in the rail sector: taking larger strides and.

How is technology transforming global sourcing ?

Claritum

Claritum Article - Procurement Blog. If your organisation struggles with supply chain visibility you are not alone, according to Deloitte’s survey of Chief Procurement Officers, 65% of CPO’s have limited or no visibility beyond their Tier 1 suppliers. One problem your organisation might face is the challenge of how to compare bids from multiple suppliers in multiple currencies. of procurement leaders have limited or no visibility beyond their Tier 1 suppliers.

5 New Year’s Resolutions for Supply Chain & Logistics Executives

Talking Logistics

Natural disasters like the Japan earthquake, product shortages due to quality issues, the impact of currency rates on product costs and demand, and disruptions caused by IT service failures or security breaches are just a few examples of the risks supply chain executives face every day. At an MIT conference last year, Tom Linton, Chief Procurement and Supply Chain Officer at Flextronics, presented his top 10 list of supply chain trends.

2020 Requires Big Wings and Feet

Supply Chain Shaman

Most budgets are completed in currency at a brand level. Most can only measure functional costs—transportation, manufacturing, and procurement. It has been awhile. After the Supply Chain Insights Global Summit , I took the time to recharge and took a month off from writing. The presentations from the Summit are posted now on the Supply Chain Insights You Tube Channel. This blog post formed in my head as I worked with clients this month.

Top 8 software every FMCG company should invest in

Abivin

Procurement Analytics Software A set of well-managed purchasing activities can create substantial boost to the connection between the market and the production process of FMCG industry. A procurement analytical software is totally needed for FMCG firms in order to run their supply chain smoothly at the lowest cost possible. FMCG is a versatile and rapidly changing industry.

6 Things to Consider as You Plan Your 2016 Budget

Talking Logistics

dollar rises against foreign currencies, U.S. In my opinion, there will be more than one way to procure capacity, rates, and services for the 2016-2017 season. The start of a new year means budget planning is likely back on your agenda. You probably have questions about what the 2016-2017 ocean contract season will bring. Let’s look at six key topics to watch in the coming year that could impact your budget planning now. Consolidations.

Panama 107

Jason Busch’s Thoughts at the Coupa Conference

Supply Chain View from the Field

Spend Matters has grown to be a big part of the procurement landscape. The premise of his discussion at Coupa was around volatility, and the need for procurement transformation to stop and take a look at itself, and understand how becoming influential is becoming a bigger imperative. Currency risk will soon be surpassed by commodity risk. For procurement, that means thinking about how to play the part, and putting your self in others’ situations.

At the Starting Line: New Year’s Resolutions for Supply Chain and Logistics Executives

Talking Logistics

Natural disasters, product shortages due to quality issues, the impact of currency rates on product costs and demand, and disruptions caused by IT service failures or security breaches are just a few examples of the risks supply chain executives face every day. At an MIT conference [in 2013], Tom Linton, Chief Procurement and Supply Chain Officer at Flextronics, presented his top 10 list of supply chain trends. Happy New Year! I hope you all had a fun and relaxing holiday.