Procurement and Suppliers on the Same Page: How to Craft an Effective Terms & Conditions Sales Document

Cerasis

Editor's Note: Today's blog is the second part of Chuck Intrieri's series on how procurement and suppliers can avoid issues with their contracts. Procurement and suppliers often assume that small print is highly complicated legal jargon that is both boring and largely irrelevant. It Would Benefit Both Procurement and Suppliers To Write in a Clear, Friendly, and Organized Manner. Procurement

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

ivalua

Leading the charge in navigating this constantly shifting trading environment is the Procurement department. 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. However, as things stand, many Procurement teams aren’t digitally mature enough to provide this input to the business. Alex Saric, CMO, Ivalua.

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Objectives of Procurement Management

EC Sourcing Group

Objectives of Procurement Management. The objectives of procurement management can range from the most general, such as “buying goods and services,” to the more complex, such as “supporting organizational goals within the team.” What Is Procurement Management?

These 7 Industrial Procurement Trends will Impact Supply Chain & Logistics in 2018

Cerasis

Procurement must never be an afterthought in any enterprise. The answers to these questions lie in understanding a few of the top industrial procurement trends to expect in 2018. Companies Will Seek New Ways to Use Technology in Procurement. As with many other topics affecting industry trends in the transportation, trucking and manufacturing industries, companies are looking for ways to increase the use of technology in procurement, explains Melissa Deleen of LinkedIn.

Procurement Interview Questions & Answers

Supply Chain Game Changer

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Check out this list of 25 Procurement and Purchasing questions and answers. Subscribe Here! Email Address.

Procurement and the Need for Speed

ivalua

In my last two articles ( here and here ) I’ve been talking about the need for Procurement to think about how we can move beyond our historical transactional role and embrace approaches to help drive competitive advantage and real value for our organisations. So, what should “speed” mean for Procurement leaders, and why is it so important for us today, as well as for Ferrari and McLaren? . Author: Peter Smith , Managing Director at Procurement Excellence Ltd.

IKEA’s IWAY Lessons For Procurement!

Supply Chain Game Changer

Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management. In order to enact the shift that they wanted to see in their procurement, purchasing and sourcing processes, they had to not only rethink internally, but work closely with a consolidation and restructuring categories within their supplier base. The post IKEA’s IWAY Lessons For Procurement!

5 Best Practice Effectively Roll-out Digital Procurement Software

ivalua

Anyone who has been through a Procurement software implementation will know, it’s not always simple. Here are a few points which I hope demonstrate my knowledge of the Procurement process and show my understanding of how the Procurement function needs to operate to be successful.

Procurement: The Startup’s New Best Friend?

ivalua

Yet, these initiatives are rarely owned by Procurement. On the contrary, Procurement often plays the bad cop role, creating barriers to onboard new and innovative suppliers, asking for endless compliance documents, ending the magic of the incubation. Is Procurement not in the best place to leverage its supplier market expertise to unearth innovative gems? . Therefore, it is understandable that Procurement does not necessary take the lead in all cases.

Software Solutions To The Procurement Puzzle: Getting The Right Mix

HICX Solutions

Many have had to completely rethink the way they buy goods and services, which has lifted procurement as a theme up the organisational hierarchy. This is partly due to the vast amount of data that flows through procurement departments. But this can only be achieved with the right procurement software – and that’s where things start to get complicated. All-in-one suite or bespoke procurement system? The future of procurement software.

Digitalization in Procurement: Your Questions Answered

Jaggaer

Last week JAGGAER hosted a webinar reviewing the findings of our recently released 2019 Digital Procurement Survey Report. We reviewed the key takeaways and provided recommendations for how procurement professionals can begin to take advantage of next-generation technologies. 35% of respondents said it was their main challenge in modernizing their procurement process. Digital transformation in procurement is not just automation. Procurement Resources

You Can’t Achieve Procurement Success Without A Strong Foundation

HICX Solutions

In fact, according to a survey carried out by PayStream Advisors , 39% of enterprise-level (companies with revenues greater than $2bn) procurement and sourcing professionals listed ‘increasing supply chain efficiency’ as their main aim when it comes to managing suppliers. Having access to validations and documents from the onboarding process onwards makes life much easier for departments that need access to that information.

Streamline Procurement Activities By Reducing Your Purchase Order Cycle Time

Unleashed

Purchase orders are the documents sent from the buyer to the supplier requesting goods or services that when accepted by the vendor forms a legal contract between the two parties. The most effective way to streamline procurement activities is to include a well-considered purchase order cycle as part of your purchasing processes, one that allows you to plan for expenses and budget for the costs of doing business. Business Tips procurement purchase order purchase orders

Why Procurement Transformation Can Fail!

Supply Chain Game Changer

What’s the Difference between Procurement and Purchasing? Why Procurement Transformation Fail article created by, and permission to publish here provided by, Jill Button at [link]. Over these past 28 years of my career in Procurement (yes I started when I was 12), I’ve had the privilege and pain of seeing, not just procurement, but many different types of Transformation initiatives succeed and, unfortunately, fail. What Procurement dreams are made of!

Ethics in Procurement – Simple, but Not Always Easy

Logistics Bureau

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. How procurement handles itself and its activities set the tone for all the events that follow, right up to the final delivery of goods and services to the end-customer.

Five Ways AI Will Turbocharge Procurement

HICX Solutions

The basic purchase-to-pay (P2P) processes for managing and recording the procurement transaction are already automated to some extent in many organisations. Using evidence from past events, AI will help design the process and documents and support the evaluation, which will be heavily automated. This piece was originally written by Peter Smith, former MD of Spend Matters UK, as part of our AI in Procurement report (published alongside Raconteur ).

Making Procurement Autonomous: Embracing the Future in the Present

Jaggaer

For more, and to learn about all four steps of the autonomous procurement process, register for our webinar, “ Four Steps to Autonomous Procurement “ In modern procurement teams, many are wondering what will happen when AI technology is truly integrated into purchasing systems. The good and bad news is that autonomous procurement isn’t here yet. There are four main steps to autonomous procurement. What is the Future of Procurement? .

Keep Your Strategic Procurement Process From Walking Out the Door

AFFLINK

You’ve made it clear that strategic procurement is a priority, and they’ve internalized that mandate like their own DNA. So documenting those processes would be a waste of time. Here are just a few reasons why documenting your procurement processes is more important than you may realize: 1. If your processes aren’t documented, that knowledge leaves with them. Documentation is your proof that you’re in compliance with those regulations.

Is Procurement Being Too Aggressive in Negotiations?

Supply Chain View from the Field

A recent post by my colleage Kate Vitasek (author of the “Vest Outsourcing” model) in Forbes magazine argues that procurement is taking too aggressive a stance in negotiations with major logistics providers. ” Kate also refers to my new book (written with my colleague Gerard Chick), The Procurement Value Proposition: The Rise of Supply Management , which effectively calls for change in procurement!

5 Ways to Put AI to Work in Your Supply Chain

Bristlecone

Step 1: Digitize your documents. Ghodke says an important first step to staying ahead of the competition is to move beyond manual data entry with an AI-driven technology like Document Digitizer. A pioneering technology company used an AI-based app to achieve procurement savings of $400K over 12 months for metal commodities. Blog DemandSense Document Digitizer Innovation Sense.ai

SIG Webinar on Procurement Analytics and Innovative Data Leveraging

Supply Chain View from the Field

The webinar will also include Howard Richman, a colleague I have known for many years, first at Merck, and now working at Citrix as their Chief Procurement Officer. Also joining us will be Michael O’Leary, Director of Procurement Solutions at IBM. I emphasied to Alex that I had seen a similar trend – that purchasing executives seek to drive procurement value transformation, many find themselves struggling to make progress in these three areas of change.

Hello Automated Procurement, Goodbye Tedium

Jaggaer

Many tasks in procurement are repetitive, tedious, time-consuming and, when performed by humans, highly error prone. Automated procurement means that procurement professionals are released from tedium while organizations enhance their efficiency and release additional value.

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.

IKEA’s IWAY Has Lessons For Every Procurement Team!

Supply Chain Game Changer

Check out Procurement Report Card: Most Executives Think Procurement Isn’t Strategic Enough! Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management. If you don’t have a Supplier CoC, I’d strongly suggest looking into developing one with your sourcing and procurement team. The post IKEA’s IWAY Has Lessons For Every Procurement Team!

Believe It Or Not, Procurement Impacts Every Single Person

ivalua

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). I’m talking about the organizations responsible for Procurement at the City, County or State level. Vishal Patel, VP Product Marketing, Ivalua.

Augmented Procurement is Making the Future Our New Reality

Jaggaer

Now this idea of augmented procurement – and eventually autonomous procurement – has surfaced , and many are asking when the change will happen, and more importantly what it means for them. . Now, just imagine that technology specifically tailored to procurement.

Hybrent’s E-Procurement Solution Integrates with Accounting System to Eliminate Double Keying

Hybrent

The Hybrent solution, though, is an e-Procurement system that reduces that workflow to a single step. Hybrent doesn’t stop by just streamlining the procurement side. This is traditionally done by matching three paper documents to look for errors. Of course, just like with the procurement side, these workflows aren’t linked requiring the invoices to be hand processed into the accounting side. Blog Articles e-Procurement Invoicing Requisition

Direct Material Woes: Seven Steps to Take to Improve Value

Supply Chain Shaman

With this in mind, in this blog, I make an argument that we, as supply chain leaders, have screwed up direct material procurement. My goal is to have supply chain leaders consider a procurement redesign for 2017. As shown in Figure 1, roughly one in two supply chain organizations have responsibility for procurement. Most of the focus in the last decade was on indirect procurement. The opportunity is in the management of direct procurement. It is fall.

EBA Guidelines – A Call to Action for Banking Sector Procurement?

ivalua

Peter Smith, Managing Director, Procurement Excellence Ltd. The European Banking Authority (EBA) has published new guidelines on outsourcing , a document that has wide-ranging implications for every banking organisation, and requires careful consideration by procurement leaders and functions. This is sensible advice, and really, it could apply to almost every organisation, type and category of Procurement I can imagine.

Sustainable Procurement Finally Getting Its Own Standard

NC State SCRC

A new post discussed the development of a sustainable procurement standard developed by the International Standards Organization. ISO 20400 , Sustainable procurement – Guidance, has just reached a second draft international standard stage, meaning interested parties can submit feedback via their ISO member on the draft before final publication in 2017. It’s about time that the concept of sustainable procurement has a standard established around it.

3 Reasons Why Procurement Transformations Fail!

Supply Chain Game Changer

What’s the Difference between Procurement and Purchasing? Over these past 28 years of my career in Procurement (yes I started when I was 12), I’ve had the privilege and pain of seeing, not just procurement, but many different types of Transformation initiatives succeed and, unfortunately, fail. There are many reasons why Procurement Transformations fail, however, the below 3 keep coming up time and time again. Failure to look beyond Savings for Procurement Value.

Understanding Your Sourcing Footprint is the Key to Procurement Analytics

Supply Chain View from the Field

Often this is documented into a supplier scorecards, and over the procure to pay cycle, invoices and payments occur, which are folded into the on-going spend analysis. Procure to Pay Strategic Sourcing Supply chain analytics

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

We need to look at alternative sources of procurement, of production, alternative factories, alternative countries. Name="Document Map"/>. As demand rides a rollercoaster in the last few months, huge adjustments have been asked from businesses in every corner of the world and sector.

How to Choose the Best Procurement Software

EC Sourcing Group

At one time, all of the steps for procurement management were completed by hand. When a procurement software platform was available, it was just a spreadsheet as part of an overall word processing package. Today, there are many types of procurement software, and in order to find the best procurement software for your company, you’ll have to find the area (or areas) you need help in the most. . The Best Procurement Software : What Is Procurement Software?

Who Owns Contract Management of Major Projects: Procurement or the Business?

NC State SCRC

The procurement function (contracting supply chain) typically provides the market & commercial expertise for creating the contract. The Business function is thus deemed to chair a collaborative Contract Management Team of Procurement, HSSE, Key Users, Finance, etc. The findings points to the general best practice that joint ownership of the contract should be assigned to both the business and to procurement.