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What Is PPV? Purchase Price Variance Explained

Precoro

However, only 30% of CPOs claim they have achieved their cost-saving targets in 2023. One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. Why Is Purchase Price Variance Important?

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Sustainable procurement: Everything You Need to Know

Precoro

March 21 was the second annual iteration of World Sustainable Procurement Day , an online event organized by the Sustainable Procurement Pledge team, SPP Chapters, SPP Champions, and partners to raise awareness about the importance of ethical procurement and to share the best sustainability practices with organizations worldwide.

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8 Steps in the Procurement Process and How to Optimize Them

OptiProERP

So what is procurement? Procurement is acquiring goods, services, or works from an external source. Procurement can be done by a government agency, a private organization, or an individual, and it can involve purchasing anything from pencils to complex machinery. What Are the Types of Procurement?

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Supplier Performance Management – The Ultimate Guide

SCMDOJO

The biggest challenge is that simply offering metrics, even those that appear to be the “right” metrics, usually doesn’t produce any results. The questions that are most often asked are: What metrics should I use? What metrics do others (in my industry) use? Where do I begin?

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Types of Procurement Reports: Definition & Benefits

SCMDOJO

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.

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Why You Should Conduct Internal Quality Audits

Arena Solutions

External audits can be nerve-wracking with key personnel and teams running from pillar to post searching for records or documents, especially if you don’t have a quality management system (QMS) software solution in place. Christine said, “I have used internal audits as the baseline to improve our overall business metrics.

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Do You Know Your Suppliers? Counting the Cost of Ignorance

QAD

In April 2021, food giant Hershey Food announced its “ No Deforestation Policy ” to end deforestation across its supply chain by 2030. Consumers are increasingly expressing interest in ethical sourcing and environmental impacts related to the products they purchase. found that consumers would stop purchasing brands with ethics issues.