A Look at Direct v. Indirect Supplier Management in Three Industries

ivalua

Doug Keeley, Product Marketing Manager, Ivalua. The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is supplier management.

What are the Key Components of Successful Supplier Management?

HICX Solutions

Here at HICX we are championing the importance and value of evolved supplier management. In this blog we take a look at the key components of supplier management , starting with… 1. Onboarding and Master Data. Establish data standards, processes and controls.

Supplier Management Through a Vendor Portal

TPSynergy

Along with your customers, suppliers and purchasing agents need the same level of info just as fast. The fastest and most cost-effective way to implement this is with a supplier vendor portal. Here are some of its benefits: SUPPLIER SELF-SERVICE. CHANGE MANAGEMENT.

5 Pillars of Effective Supplier Management

Claritum

This article focuses on effective supplier management. The five pillars of effective supplier management covered in this article are: Supplier Information Management. Supplier Lifecycle Management. Supplier Performance Management.

If you had a clean slate, what supplier management practices would you eliminate?

ivalua

Which got me to thinking… If you are a manufacturer, what supplier management practices might you eliminate if you had a clean slate? Are there suppliers that you spend less on who could become the cornerstone of your product?

Supplier Management and Sourcing in the Fashion Industry – Under the Spotlight

Jaggaer

More than virtually any other sector, sourcing and supplier management in the fashion industry have been exposed to intense scrutiny in recent years, while the functions have become of increasingly strategic importance to business success.

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Supplier Data Comes of Age: The Benefits of Knowing Your Suppliers

HICX Solutions

Just who are my suppliers ? Look into a supplier database and you might find ‘FedEx’ and ‘Federal Express’ listed as two separate entries. Are there really three suppliers? Or is there one supplier, with two – or maybe three – operating units?

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What is Vendor Master Data Management and Why is it Important?

HICX Solutions

Gaining a better understanding of who your vendors are allows you to improve all aspects of vendor management, such as sourcing, category management and payment. Why organisations struggle with Vendor Master Data Management.

AI for Better Supplier Collaboration: First, Get Your Data in Order

Jaggaer

The result has been isolated applications, e.g. for supplier management and for P2P working in parallel with siloed data sets and limited or no synergy. In the worst-case scenarios, this can lead to arguments about whose data is the “truth”. million per 100 suppliers.

Big Data Analytics: A Key to a Successful Supply Chain in the Next 5 Years?

Cerasis

Big data utilization is the wave of the future for all aspects of business including supply chain management. The problem is that not every company has the resources to begin the process of big data management and have yet to see the extent of benefits it can provide to analyze and use such data management. There are several direct and indirect benefits to using big data analytics for your supply chain. Immediate Benefits of Big Data Analytics.

Altering the When, How and Why of Supplier Information Management

ivalua

Supplier information is typically viewed by procurement organizations as one of two things. It is either a data input, such as what we gather and use in spend analysis, or it is a process by-product, such as the information we gather from prospective suppliers during strategic sourcing.

Unlocking Innovation from Your Supply Chain – Lessons from Formula 1 Racing

ivalua

Afrika Morris, Senior Field Marketing Manager UKI at Ivalua. F1 Veteran, Mark Gallagher highlighting the impact of supplier innovations on pit stops – resulting in team success. Adopt a Collaborative Approach – Embrace suppliers as partners, not vendors.

What You Really Need To Know About Your Suppliers – And Why

HICX Solutions

The importance of structured and effective supplier management has increased for major organisations over the years. The regulatory and compliance burden has increased in recent years in terms of organisations needing to understand much more about their suppliers and supply chain.

Artificial Intelligence to Improve Decision-Making in Procurement

Jaggaer

Some of these are supported by artificial intelligence, for example to map inbound supplier invoices for automated data entry. Once you have automated a data entry process, there is nothing further to gain from it: it’s a one-off.

Digital Foundations: Fixing the Basics

HICX Solutions

In this blessed state, procurement moves from using descriptive data in a reactionary way towards using predictive data in proactive ways, all underpinned by full automation. Even our higher functions like category management are easily automated in a digitally-enabled world.

Why using supplier data effectively will spark your growth

HICX Solutions

Much of this stems from the perception that ‘data’ is only an administrative tool, which leads to it being overlooked a lot of the time. Many of them still believe that the end goal is to establish a single system that will enable the use of perfectly integrated data.

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Managing Underperforming Suppliers: What You Need to Know

Unleashed

While many inventory control issues can be attributed to inadequate forecasting or the failure to account for volatility of supply and demand, other challenges in maintaining optimum stock levels may be the result of underperforming suppliers. That being the case, what is it you need to know to manage underperforming suppliers? How to identify underperforming suppliers. Managing underperforming suppliers.

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4 Core Aspects of a Successful Data Integration Project

HICX Solutions

Data integration is a fairly easy thing to define, as it’s the process of drawing together and combining data from different sources to provide the user with a unified and accurate view of the information. Design a clear strategy for your data sharing model.

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Strategic sourcing and ‘big data’

ivalua

Big data is more than a buzz term, and if you are a strategic sourcing professional, it is a concept that should not be ignored. Big data is about synthesizing and making sense of information — better and quicker than your competition. Velocity: How quickly do you create data?

How can Reputational Risk Originate in Your Supply Chain?

HICX Solutions

It might be tempting to think that the worlds of procurement and reputational risk management are gleefully separate. Each one is likely to be sourcing parts or services from a large pool of suppliers spread across different locations.

Telltale Signs You Are Using Bad Data

Unleashed

In this digital age where technology and software solutions gather and track billions of pieces of information, data is king. Data provides detailed information on which business can base decisions and it enables them to provide their customers with personalised tailored experiences. Bad data is bad business. While businesses fast-track their digital business and eCommerce efforts, they need to ensure they are using the right data. Warning signs of bad data.

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Data Quality is More Important than Data Size

Enterra Insights

” It’s a phrase that could very well have originated in the age of big data rather during the Cold War. The World Economic Forum declared data a valuable resource, like oil or gold; and, because data is valuable, one’s first thought is you can’t have too much of it. To be more specific, just having data available isn’t enough: There’s a distinction worth making between ‘useful’ and ‘not-so-useful’ data.”[1]

Smart Logistics Data: The intelligent supply chain

SupplyOn

Smart Logistics Data enables a change of perspective to look ahead instead of backwards A supply chain has to be agile, robust and resilient. All this requires the intelligent use of data. But how can we really make data “smart”? Obstacle 1: Data problems wherever you look If we take a look at the typical supply chain process, the first thing we see is not “smart” data but a whole lot of data problems. In addition, there is a lack of real-time data.

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Integrating External Data Into Manufacturing Procurement Activities and Technology: Where, Why and How

ivalua

Recently, I asked the folks at Spend Matters…”If you were advising sourcing and supplier management professionals in the manufacturing industry, what external data sources would you suggest they look at acquiring and integrating into their tools and processes?”.

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New Goals for Procurement – Driving Revenue Growth Through Supplier Collaboration

ivalua

Even in terms of the “improved sales / marketing” route, there are possibilities – maybe procurement can work with the marketing team to find innovative suppliers in areas such as digital marketing? Author: Peter Smith , Managing Director at Procurement Excellence Ltd.

Integrating External Data Into Manufacturing Procurement Activities and Technology: Where, Why and How

ivalua

Recently, I asked the folks at Spend Matters… “If you were advising sourcing and supplier management professionals in the manufacturing industry, what external data sources would you suggest they look at acquiring and integrating into their tools and processes?”

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Supplier information challenges in the automotive industry

ivalua

The audience was extremely engaged as many of them continue to look for better ways to generate the most value from the supplier selection process and ongoing supplier management. Manufacturers need better supplier information. non-standard approaches to data collection.

The Simple & Straight Forward Roadmap to the elusive Global Supplier Portal

HICX Solutions

Supplier Portals are becoming increasingly important for large organizations. Many of which produce marketing claiming supplier portals, so surely that’s exactly what they are selling? Firstly, there isn’t one global worldwide supplier portal. Step 1: Supplier Data Governance.

Three Steps for Conflict Mineral Compliance

Supply Chain Network

That level of minutia rarely exists in a supplier database; if it exists at all, the information is scattered throughout incompatible systems or worse, in file cabinets somewhere. To create a comprehensive process for adhering to the conflict mineral rule, consider these three steps : Start with data collection. Again, this should extend beyond tier-1 suppliers to include tier-2, 3 and 4 suppliers. By Paul Martyn — BravoSolution.

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Overcoming Barriers to Enhanced Supplier Performance

EC Sourcing Group

What challenges will you face to improve supplier performance? Suppliers that have been in place for a long time – more than 5 or 10 years present one set of issues. Newer suppliers tend to be eager to please. Do you have the backing of senior management to complete this review?

Supplier Information Challenges in the Automotive Industry

ivalua

The audience was extremely engaged as many of them continue to look for better ways to generate the most value from the supplier selection process and ongoing supplier management. Manufacturers need better supplier information. non-standard approaches to data collection.

4 Best Practices for Addressing Underperforming Suppliers

Unleashed

Now you’ve identified underperforming suppliers. It is important to hold suppliers and vendors accountable by directly addressing poor performance. Building strong supplier relationships will benefit both sides. It’s better for your suppliers to acknowledge how important your business is to them, so they make every effort to provide the best service possible, or when necessary, give them an opportunity to improve. Business Tips supplier management suppliers

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A 3-Step Guide: Identifying Underperforming Suppliers

Unleashed

Properly tracking and evaluating supplier performance helps ensure smooth operations and profitability. If a supplier seems to always have an excuse, you’re not wrong in being sceptical if it’s a common occurrence and affects your business schedule. Perhaps it might be that a supplier is never wrong, and you notice their frequent attempts to sidestep responsibility and put the blame on someone else. These are some common signs that you may be working with a bad supplier.

Procurement can’t afford to be a digital laggard in today’s complex landscape

ivalua

Procurement teams are becoming a more intrinsic part of business strategy, able to help organisations manage and predict supply chain risk, unlock innovation, create sustainable cost savings, and help grow revenue. Alex Saric, CMO, Ivalua.

How To Decrease Your Purchase Order Cycle Time

Unleashed

You can set it up to communicate with your online inventory management system so you can have transparency over the course of the order. An online inventory management system that talks to your procurement software so it can help decrease human mistakes and keep data up-to-date. In addition, an online inventory management system can automate some of the re-ordering and take some time off the procurement team’s hands. Decrease the number of suppliers.

What Makes a Mature Planning Organization? (Part 2)

Supply Chain Shaman

With the shift of power to the retailer, both have had to add headcount to manage the increased demands for sales to staff account-specific teams to better manage against retailer expectations. It must be managed as a system.

The expanding scope of procurement analytics: Some initial thoughts

NC State SCRC

Procurement analytics, which supports decision making in procurement management, typically handles problems and decisions that are related to cost reduction, supplier management, cost modeling, procurement-led innovation, market strategies, supply chain risk, and stakeholder value improvement (Handfield, Jeong, and Choi 2019). Moreover, sourcing organizations increasingly adopted centralized sourcing strategy, raising the importance of data analytics in sourcing.