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Home Introducing Freightos Enterprise: End-to-End Procurement, Benchmarking, and Management Freightos Enterprise unifies market intelligence, tender management, and shipment operations into one solution, enhancing logistics efficiency for large import-export businesses.
Home Introducing Freightos Enterprise: End-to-End Procurement, Benchmarking, and Management Freightos Enterprise unifies market intelligence, tender management, and shipment operations into one solution, enhancing logistics efficiency for large import-export businesses.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle. What’s the technology behind autonomous procurement agents?
As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle. What’s the technology behind autonomous procurement agents?
In this type of environment, traditional procurement software and manual processes are insufficient – and many procurement teams are looking to artificial intelligence (AI) for answers. Key Takeaways Understand the potential impact of AI – including Generative AI & AI Agents – in procurement.
Enterprise procurement leaders are under more pressure than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems. AI, automation, and generative tools are redefining efficiency, allowing procurement teams to move from reactive to proactive decision-making.
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. This blog explores the most common challenges in digital procurement and the capabilities that matter most.
Traditionally, procurement has been a process weighed down by manual tasks, fragmented systems, and endless paperwork. Today, procurement is undergoing a transformation. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact.
If you’re evaluating procurement technology or exploring ways to drive more value from existing systems, chances are you’re looking beyond tactical fixes – you want a smarter, scalable strategy. Misaligned priorities across finance, legal, and procurement create friction that delays decision-making and reduces impact.
Home Introducing Freightos Enterprise: End-to-End Procurement, Benchmarking, and Management Freightos Enterprise unifies market intelligence, tender management, and shipment operations into one solution, enhancing logistics efficiency for large import-export businesses.
Companies often push aside procurement compliance to focus on more pressing issues. No wonder—procurement often gets tedious and burdened with time-consuming processes. However, ignoring procurement compliance is like ignoring a ticking time bomb. Scroll down to find out: What is procurement compliance?
Category management isn’t just another procurement trend. What procurement teams need is a clear view of their spend, tighter control, and a strategy that delivers lasting value—exactly what category management provides. The goal is to get the best results from every category. It’s tactical and short-term.
According to McKinsey & Company, procurement accounts for 50% to 80% of a company’s cost base. That’s why organizations zero in on strategies to achieve procurement cost reduction. The key thing to remember is that cost reduction in procurement isn’t just about slashing expenses.
In my previous posts, I looked at how to successfully launch a digital transformation and progress to best-in-class Procurement. Most leaders seem to track their progress with metrics such as percent of spend managed and digitization levels, defining best-in-class as being the top quartile or similar high percentage. Stay Flexible.
Procurement operations are no exception. In fact, 43% of GPOs that took part in the 2023 Global Chief Procurement Officer Survey cited overall procurement risk had increased significantly as compared to 20% in the 2021 study. Keep reading to learn: What is an online procurement system?
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
Rising software costs, lack of procurement oversight, compliance headaches, and clunky vendor management. Many organizations are discovering that without clear procurement software best practices, costs spiral, risks multiply, and efficiency stalls. Key Takeaways What is Procurement Software – and why is it important?
Types of cost efficiency metrics Here are five main types of cost efficiency metrics: Cost per unit : Total cost divided by units produced (e.g., A dedicated procure-to-pay solution like Precoro shows a clear picture of where corporate money is going and offers more control over how it's spent.
A recent survey of procurement leaders showed a 15-20% increase in ROI when using data and analytics to make decisions. That same survey showed that up to 50% of procurement teams’ time was spent looking for data. These ‘ driver metrics ’ can give you an early signal to act on before your outcome is impacted.
Spend classification can often go unnoticed, despite its critical influence over successful procurement strategy. Streamlining Procurement Processes: Proper spend classification ensures a structured approach to eSourcing activities.
According to Deloitte’s 2025 Global Chief Procurement Officer (CPO) survey , 41% of CPOs are actively renegotiating with existing vendors to deal with volume volatility and price hikes. Before selecting suppliers , procurement collaborates with all relevant departments to define what exactly the business needs and why.
Supply chain key performance indicators and metrics are ways in which someone can quantify the performance of their company’s supply chain to gain a better understanding of its strengths and weaknesses. Procurement Cost. Click here to watch a demo of The Owl’s platform. Product Management KPIs! Get Our EBOOK HERE.
It covers the basics of procurement, including procurement strategies, contract management, and supplier selection. You’ll also learn about supply chain management and the various stages of the procurement process. Pros: It forms part of the CIPS Level 2 Certificate in Procurement and Supply Operations qualification.
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.
Financial forecasting has gone from a 'nice-to-have' to a must-have for procurement and financial planning teams. Start by comparing your upcoming budget with past performance metrics , such as past income, expenses, and spending patterns, then analyze how the budget will perform in real-world conditions. The only difference?
Leading procurement and supply chain tech providers go head-to-head in data-driven fall 2024 vendor ranking WASHINGTON, DC. SolutionMap contains 500+ RFI requirements across 22 procurement solutions with mandatory demos and impartial, anonymized customer ratings. That’s what makes this dataset so powerful.
For Chief Procurement Officers (CPOs) and their teams, selecting the right Source-to-Contract (S2C) solution is an essential step toward strategic procurement transformation. This decision shapes the efficiency of procurement operations, impacts stakeholder perceptions, and creates measurable business value.
A supplier scorecard is the result of supplier analysis based on a set of key performance indicators and metrics. Steps for building a supplier scorecard: Focus on the purpose of the scorecard by recognizing and determining the right measures and metrics, or, your KPI’s.
Supply chain material flow is monitored across the stages of Planning , Procuring, Producing, Delivering, and Returning. Data procured through real-time metrics can drive up sales , bring down wastages and lead to a robust supply chain. To see these results work for you, book a demo today. Quality Control.
Intelligent Procurement. Without a solid solution in place, transportation departments only get a look at this kind of metric at the end of the 30 day reporting period. Call Now to Schedule A Demo (800) 731-7512. Routing Effectiveness. Up to 2% savings. Load Building Utilization. Up to 3% savings. Mode Selection.
In essence, those in procurement management can be reluctant to use reverse auctions because they believe it will hurt their suppliers because suppliers have heard that reverse auctions may hurt them. To learn more about the importance of strategic sourcing , or request a demo, contact us today at EC Sourcing Group at 973-936-9672.
It’s a function of procurement that plays a vital role in effective supply chain management, ensuring optimal stock levels are achieved by balancing purchasing with accurate demand planning. Streamlined procurement processes and clear communication facilitated by purchase order management save time and reduce administrative burdens.
Supply Variability: Supply variability can occur at the procurement level as well as in-store inventory levels. When demands for goods escalate, insufficient resources for procuring components can lead to unmet consumer demand. To reduce risks across your global supply chain, book a demo with Throughput here.
Supply chain and procurement leaders are continually tasked with planning an eLearning project. We’re dedicated to empowering procurement and supply chain teams to be successful in their roles, and our eLearning courses offer a scalable and affordable way to upskill your team through tailored supply chain management education.
A green supply chain reduces the harm that may occur at any stage of the procurement cycle—production, purchasing, logistics, material management, or distribution. Share supplier-specific information and requirements with your suppliers to get updates on the metrics they use to measure their own sustainability performance.
ERP or enterprise resource planning is software companies use to automate core business processes and integrate their functions, such as accounting, project management, procurement, and supply chain operations, into a single system. These systems are hard to use , which makes the procurement process overcomplicated and inefficient.
Still others have invested in expensive enterprise resource planning systems, only to abandon them because they just don’t map to the natural workflows of procurement, asset management, and disposition. But the benefits of digitization extend throughout the entire supply chain, from procurement to surplus disposition. Book a Free Demo.
Still others have invested in expensive enterprise resource planning systems, only to abandon them because they just don’t map to the natural workflows of procurement, asset management, and disposition. But the benefits of digitization extend throughout the entire supply chain, from procurement to surplus disposition. Book a Free Demo.
Data sets can be procured not just across departments but also across different geographies. Optimizing Inventory in Diverse Geographies Since different geographies differ in their consumer metrics, it is imperative to optimize inventory using effective demand sensing. Multiple data sets enable unified demand sensing in supply chain.
Data sets can be procured not just across departments but also across different geographies. Since different geographies differ in their consumer metrics, it is imperative to optimize inventory using effective demand sensing. Sign up for a demo with ThroughPut, and let it help you anticipate the best move forward.
Supply planning includes distribution, manufacturing, and procurement. Profitability and value creation : Reliable demand and supply plans allow businesses to improve availability and stock fill rates and focus on customer-centric metrics. The demand plan alerts supply planners about the future requirements for products and services.
ThroughPut AI: For Making Intelligent Decisions Across the Supply Chain Watch On-demand Demo ThroughPut AI has been recognized as a Leading Vendor in the prestigious 2023 Gartner Market Guide for Analytics and Decision Intelligence Platforms in Supply Chain. Best AI Tools for Supply Chain and Logistics 1.
billion metric tons—the emissions have rebounded in 2021 and 2022. In the case of manufacturers, it means procuring green and sustainable raw materials. Try a demo with Locus to achieve sustainability for your logistics. Schedule Demo. While the COVID-19 pandemic brought down CO2 emissions by 5 percent —to 34.81
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