QAD

JANUARY 24, 2023

It is no secret that procurement executives are constantly seeking innovative ways to maximize efficiency and address unexpected supply disruptions. However, procurement is evolving into much more than the most cost effective option since the cheapest option often involves real world atrocities like child and forced labor.

Supply Chain Software 97

Supply Chain Software Manufacturing Procurement Optimal Sourcing Procurement 97

Precoro

SEPTEMBER 2, 2022

For some businesses – usually smaller or with a single-source purchasing flow – it may be sustainable to react to the immediate needs. However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managed procurement. Office supplies would be an example of indirect procurement.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 98

Proxima

SEPTEMBER 12, 2023

And what for procurement teams? Procurement will need to understand all the ways that AI could transform how attorneys manage their work and what challenges AI could create for legal suppliers that need to be considered. AI use in internal workflows could lessen the time crafting legal documents by a big margin. Reducing risk.

Procurement 59

Procurement Predictive Analytics Software Supply Chain Planning Software Modeling Software 59

SYSPRO Smarter ERP

MAY 30, 2022

Disruptions like the pandemic, supply shortages, global trade barriers, high customer expectations and inflation all add tremendous pressure on the procurement process. Despite this, only 33% of businesses invested in procurement and sourcing technologies. Data-driven decision making with ERP as a single source of the truth.

Manufacturing Procurement 105

Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 105

SCMDOJO

APRIL 20, 2023

If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.

Negotiating Skills 97

Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 97

SYSPRO Smarter ERP

MAY 30, 2022

Disruptions like the pandemic, supply shortages, global trade barriers, high customer expectations and inflation all add tremendous pressure on the procurement process. Despite this, only 33% of businesses invested in procurement and sourcing technologies. Data-driven decision making with ERP as a single source of the truth.

Manufacturing Procurement 98

Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 98

Precoro

MARCH 31, 2023

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.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 52

Precoro

FEBRUARY 4, 2022

According to a Paystream 2018 Procurement Insights report, 80% of organizations still use manual or semi-digital tools to manage their procure-to-pay cycle. Most organizations are using the procurement module integrated with their ERP or accounting software. What is Procure to Pay? Procure-to-Pay Definition.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Optimal Sourcing Procurement 98

Unleashed

MARCH 9, 2021

What is procurement? In simple terms business procurement is the process of locating and acquiring goods and services from external sources for the business to use. Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis.

Procurement Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

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

QAD

AUGUST 22, 2023

It is not just a documentation error. Imagine if this was a critical part of your finished product, and you were single sourcing from one supplier. This is a scenario that supply chain, import and procurement professionals are encountering today – and keeping many up at night.

Manufacturing Procurement 94

Manufacturing Procurement Supply Chain Software Supply Chain Design Software Procurement Solutions 94

Precoro

APRIL 6, 2022

If you're reading this now, then you’ve probably noticed how outdated traditional procurement systems recede into the past and are replaced by new modern solutions. What is Cloud Procurement? All this functionality helps save costs, choose the best vendors, ensure compliance, appraise supplier risk, and streamline procure-to-pay cycle.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Modeling Software Analytics Software 98

The Logistics & Supply Chain Management Society

APRIL 26, 2022

Source: IDC FutureScape: Worldwide Supply Chain 2022 Predictions — APEJ Implications. IDC’s March 2022 Future Enterprise Resiliency & Spending Survey showed that almost 50% of finance organizations are prioritizing consistent ESG practices and/or policies when considering industry ecosystem design and partners.

Supply Chain Design Software 264

Supply Chain Design Software Supply Chain Software Supply Chain Planning Software Sustainability 264

Precoro

MARCH 30, 2022

Strategic Procurement Helps a Business Unleash its Potential. As The Hackett Group discovered, approaching procurement strategically with specific business goals in mind helps achieve a significantly higher ROI. Operational efficiency and cost reduction are among the top procurement priorities for CPOs, according to Deloitte.

Vendor Strategies 52

Vendor Strategies Sourcing Strategies Cost Reduction Strategies Price Reduction 52

Precoro

JANUARY 16, 2023

Spend management allows for efficient sourcing and procurement, regulated expenses, timely registration of spontaneous purchases, and a reduction of fraud and errors. As a comprehensive approach, spend management typically includes management of suppliers, categories, approval workflows , inventories, and documents.

Procurement Solutions 98

Procurement Solutions Negotiating Skills Purchasing Skills Expense Reduction 98

SCMDOJO

MARCH 19, 2024

While Its primary purpose is to manage the entire process, from procurement to delivery, efficiently and cost-effectively, it also coordinates with production to automate processes and planning, etc. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel! Why do you need a structured Supply Chain Department?

Optimal Sourcing 77

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 77

Precoro

APRIL 24, 2023

This practice involves several critical steps, including but not limited to gathering the prospective supplier’s contact details and product information, evaluating their capabilities and credentials, sharing organizational policies and expectations, and setting the supplier up in the company's system.

Supply Chain Design Software 52

Supply Chain Design Software Procurement Solutions Supply Chain Network Software Demand Planning Software 52

QAD

MAY 23, 2023

This sounds simple enough, but we all know it’s a very complex issue and that’s partially because ESG concerns touch every part of the value chain, from the field or mine where raw materials are sourced to the packaging and transport modes used to bring your finished product to market.

Procurement Solutions 94

Procurement Solutions Supply Chain Planning Software Supplier Management Modeling Software 94

Precoro

NOVEMBER 13, 2023

One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. In this article, we'll explain what PPV is, why it matters, and how tracking this metric can benefit your procurement processes. This estimate is then used as a standard price in the PPV formula.

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Precoro

OCTOBER 10, 2022

In today's competitive market, where it's not all about cost savings, tracking procurement performance and aligning it with business goals and objectives is a must-have. So how do you measure the effectiveness of procurement operations within your organization? What Are Procurement KPIs, and Why Use Them?

Procurement Analytics 52

Procurement Analytics Optimal Sourcing Manufacturing Procurement Procurement Solutions 52

SCMDOJO

FEBRUARY 29, 2024

Current State of Supplier Performance Management Nowadays, the interest in improving supplier performance management methods has increased due to the increase in global sourcing and that of the global economy in particular (Gordon Sherry R, 2008). They do not relate to any overall company procurement goals and objectives.

Vendor Strategies 55

Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

Talking Logistics

MAY 14, 2019

Finished products have high ratios (average 50%) of sourced or procured product content. Ensuring receipt of Certificate of Analysis (CoA) and other regulatory compliance documentation has made digitization a requirement for customer service, audit management, and compliance.

Supply Chain Planning Software 159

Supply Chain Planning Software Quality Supply Chain Software Supply Chain Network Software 159

Precoro

SEPTEMBER 12, 2022

Matching the invoice against related documents, etc. A well-planned procedure is critical to eliminate unauthorized payments and ensure that the invoice is legitimate and has no discrepancies with the original purchase documents. Getting all the necessary approvals from stakeholders. Receiving an Invoice. Defining Irregularities.

Procurement Solutions 52

Procurement Solutions Supply Chain Planning Software Supply Chain Software Purchasing Skills 52

Logistics Bureau

NOVEMBER 14, 2018

If you have not yet tackled the question of ethics in procurement, now is a great time to start. It does not matter whether you are a procurement professional, internal customer, external customer, senior executive, or supplier. Procurement is what sets entire supply chains and their organisations in motion.

Procurement Analytics 62

Procurement Analytics Optimal Sourcing Procurement Solutions Pricing Training 62

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

Logistics Viewpoints

MARCH 2, 2023

And we’ve yet to experience all of the possible repercussions of the conclusion of China’s zero-COVID policy. While many companies assemble great sourcing and procurement teams when it comes time to renegotiate freight contracts, they often fail to provide good documentation that allows them to negotiate from a position of strength.

Waste Reduction 197

Waste Reduction Supply Chain Planning Software Supply Chain Design Software Supply Chain Software 197

SYSPRO Smarter ERP

AUGUST 1, 2022

A BOM may be a relatively simple document or a complex, multi-levelled product description made from multiple sub-assemblies. Procurement planning : It has to do with ensuring that business purchases arrive promptly and in the right quantities. It records all the parts, materials, and processes used on the factory floor.

Optimal Sourcing 111

Optimal Sourcing Inventory Management Software Material Savings Manufacturing Procurement 111

Supply Chain Matters

AUGUST 30, 2023

The Ferrari Consulting and Research Group, via its affiliated Supply Chain Matters blog calls reader attention to two recently published research papers that address evidence of ongoing shifts in global supply component and end production sourcing. The abstract notes that the research paper “ documents that shifts in the pattern of U.S.

Sourcing Strategies 59

Sourcing Strategies Global Price Reduction Vietnam 59

Precoro

AUGUST 31, 2023

For instance, they can do so by improving operational processes, making cost-efficient decisions on personnel, initiating work environment changes, upgrading technology, sourcing strategically, and so on. Take your time and ask employees if they can come up with the source of spending inefficiencies.

Material Savings 105

Material Savings Cost Reduction Strategies Expense Reduction Price Reduction 105

Taulia

JULY 7, 2022

Let’s look more closely at what procurement spend management is, the challenges companies may face in this area, and six steps organizations can take to boost the effectiveness of their approach. This means that less time can be spent on new initiatives in accounts payable and the procurement department that can bring about better ROI.

Material Savings 52

Material Savings Purchasing Training Manufacturing Procurement Procurement Solutions 52

GlobalTranz

AUGUST 7, 2018

Therefore, having an indisputable source of information, such as blockchain technology, may be used to develop consistency and clarity in managing supply chain SLAs. Adopting this policy also helps parties understand past behaviors and actions that may require consideration in contractual terms.

Manufacturing Procurement 164

Manufacturing Procurement Purchasing Skills Supply Chain Software Negotiating Skills 164

Supply Chain Matters

JULY 21, 2022

This report indicates that move would reportedly amount to a nearly $200 billion investment, according to documents filed with the State of Texas. and Europe to actively consider tax incentives and other policy measures that would lead to more domestic sourcing of semiconductor production. has to do so as well.

South Korea 52

South Korea Report Manufacturing Procurement Sourcing Strategies 52

Exiger Perspectives

APRIL 3, 2023

A proven supply chain risk management framework, like Exiger’s TPRM and SCRM framework , enables compliance teams, corporations and governments to identify, assess and respond to third-party service providers, supplier risks and other involved procurement risks throughout their supply chain lifecycle.

Supply Chain Risk Management 52

Supply Chain Risk Management Risk Management Supply Chain Design Software Supply Chain Planning Software 52

Supply Chain Matters

SEPTEMBER 8, 2022

It is further about instituting supply chain risk mitigation and resiliency at a policy level. Department of Commerce , published a strategy document titled: CHIPS for America, A Strategy for the Chips for America Fund. The Introduction section indicates that the document describes the U.S. Strengthening of U.S. Bob Ferrari.

Expense Reduction 52

Expense Reduction Material Savings Sourcing Strategies Cost Reduction Strategies 52

ivalua

MARCH 9, 2023

A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. What is Source-to-Pay?

Optimal Sourcing 130

Optimal Sourcing Purchasing Skills Sourcing Strategies Sourcing 130

ivalua

JUNE 11, 2019

If you live in a city, state or country, which everybody does, your life and the lives of your family and friends is impacted directly by Procurement. No, I’m not referring to the Procurement department of your company (although, if Ivalua has anything to do about it, there are lots of interesting things happening there too).

Optimal Sourcing 169

Optimal Sourcing Procurement Vendor Strategies New York City 169

Exiger Perspectives

JUNE 2, 2023

and require comprehensive supply chain documentation to rebut UFLPA presumptions. CBP released specific guidance for supply chain documentation that should be submitted for these products. This type of software replaces manual review of volumes of disparate data sources. Need more transparency in your supply chain?

Supply Chain Planning Software 98

Supply Chain Planning Software Supply Chain Software Supply Chain Network Software Supply Chain Strategy 98