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"/>.

Responsible Sourcing! Making Sustainability Happen for Real!

Supply Chain Game Changer

Sustainability is created at the source of our products, services, and consumption. Sustainability is created from Responsible Sourcing. How can you make Responsible Sourcing a Reality? in this case, responsible sourcing. Source Smarter. Source: Purina.

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Understanding Your Sourcing Footprint is the Key to Procurement Analytics

Supply Chain View from the Field

Direct conversations through on-site engagement with different lines of business is the most direct and effective means of understanding how sourcing processes are occurring today, as well as understanding how the sourcing need evolves and is expressed to suppliers. Supplier registration processes need to be designed around sourcing engagement processes, which track the supplier life cycle. Procure to Pay Strategic Sourcing Supply chain analytics

Outsourcing Sourcing! 5 Lessons from Around the Globe!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals. But beyond that he had no idea on where to start to source his product.

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. Check out this list of 25 Procurement and Purchasing questions and answers. If we buy a customized product from a single source how will you know if the price is fair?

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.

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 1995 IKEA faced an organizational shift in purchasing and sourcing methodology. Subscribe Here!

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.

4 Reasons to Integrate Order-to-Cash & Procure-to-Pay

OneSCM

Bundling order-to-cash and procure-to-pay functions not only gives companies a holistic view of their supply chain operations, but also improves decision-making and business growth. For example: how much would more timely document submissions and responses (PO/POACK, ASN, Invoice, etc.)

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.

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. All-in-one suite or bespoke procurement system?

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.

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]. What do I mean by Foundation in Procurement Transformation? Subscribe Here! Email Address.

SIG Webinar on Procurement Analytics and Innovative Data Leveraging

Supply Chain View from the Field

I will be leading a webinar with the Sourcing Interest Group next Nov. 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. Such gaps are often attributed to a lack of data documenting historical spending, contracts, and supplier life cycle performance metrics.

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. Sourcing suppliers and awarding contracts. The post Five Ways AI Will Turbocharge Procurement appeared first on HICX Solutions.

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.

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

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.

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.

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. Most of the focus in the last decade was on indirect procurement.

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. Ethical Procurement: Some Scenarios to Consider.

3 Reasons Why Procurement Transformations Fail!

Supply Chain Game Changer

What’s the Difference between Procurement and Purchasing? I will focus on Procurement for this article as it is the topic that I am most familiar and it seems even more relevant today as I build ProcurePro Consulting ( www.procurepro.ca). What Procurement dreams are made of!

Future of Procurement Study Available

Supply Chain View from the Field

I recently completed a study of 25 CPO’s, each providing their view of what procurement will look like in 2025. Procurement has a history that is linked in the core concepts of centralization, volume leveraging, and cost reduction. These early insights dating back to the early roots of procurement evoke a situation that is still not uncommon to what we see today.

Study 60

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.

Navigating COVID-19: Mid-term Procurement Strategies for a Managing the Crisis

Jaggaer

Procurement teams can lead the way in building a robust system into the future. This should serve as a wakeup call for procurement teams to take a look at the clauses in their contracts. supplychain #sourcing [link] pic.twitter.com/40kHrnlbvY.

How Many Slaves Are in Your Supply Chain?

Talking Logistics

The collapse of the garment factory in Bangladesh last week , which killed at least 705 workers and injured thousands of others, has put a spotlight on a problem that plagues many supply chains: the use of slave labor.

JAGGAER is the Only Full Suite Provider Named as a 2018 Gartner Peer Insights Customers’ Choice for Strategic Sourcing Application Suites and as a Leader in Two Gartner Magic Quadrants

Jaggaer

In a year full of recognition from industry analysts, JAGGAER was named by customers as a 2018 Gartner Peer Insights Customers’ Choice for Strategic Sourcing Application Suites. After being named a Leader by Gartner analysts in Gartner’s 2018 Magic Quadrant for Strategic Sourcing Application Suites and Gartner’s 2018 Magic Quadrant for Procure-to-Pay Suites*, JAGGAER was recognized on Gartner Peer Insights as a direct reflection of customer satisfaction.

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.

Procurement Leadership Workshop: Addressing the Need for a New Stakeholder Influence Model

NC State SCRC

Some of the typical complaints I hear from procurement colleagues are the same ones I heard 20 years ago, and it seems as if nothing has changed. “Procurement doesn’t get any respect! ” Procurement organizations having these problems need to change their perspective, and move towards an influence model where they can come to stakeholders with solid business options, that occur months before the need occurs.

5 Procurement Management Tips for the New Kid on the Block?

AFFLINK

In much the same way, any business seeking success in the procurement management environment should address the fundamentals first. Procurement management accountability builds from having processes and quality controls that meet or surpass customer expectations.

7 Use Cases for Hyperledger in Supply Chain

Supply Chain Shaman

I believe we need to move to Open Source tech. One dinner participant laughed as he said, “The more efficient we try to make procurement, the more we screw it up!” This transition from closed and proprietary solutions to open source capabilities will not happen quickly.

Do We Need More Lawyers in Procurement? Or Do Lawyers Need More Procurement Managers?

Supply Chain View from the Field

As I’ve continued with my research on the future faces of procurement, a consistent theme that has come up again and again is the need for increased interaction between the legal and procurement groups in organizations. A typical example we found was at a large financial services institution: The difficulty we had was that we had trouble attracting lawyers into a non-legal function (procurement). And the lawyers weren’t interested in becoming procurement people.

Do You Know How Much Your Company is Spending? A Spend Analytics Checklist

Supply Chain View from the Field

Spend analysis does not need to occur only on an annual basis, but can be applied also to reviews of a category or subcategory of spend that occurs when a contract is being negotiated, or when a strategic sourcing project is initiated for a particular category group. Spend analysis is also a critical component of effective budget planning, and setting key performance indicators for sourcing teams to consider in their assigned duties.

Outsource? Insource? Why not right source your print?

Claritum

Claritum Article - Procurement Blog. Documents, operational print and marketing print are often considered as discrete requirements and most reviews will focus on each segment individually. So take a look at your entire print and document spend….and

Blockchain has real potential to reduce ‘old school’ procure to pay transactions

NC State SCRC

There is increasing evidence that blockchain (or Distributed Ledger Technology ) is not a standalone solution, but will emerge more as an open source utility, much like the Internet. Only 5%% of payments are made by procurement cards – and 34% are made by ACH Credits!

Sourcing Challenges – Will Technology Help You Solve Them?

EC Sourcing Group

As part of my weekly routine, I speak with many talented people in sourcing about their challenges. This was not a business-friendly document.

What if Your Supplier Had a Yelp Review?

Supply Chain Game Changer

We make buying decisions and investments on a daily basis, in our private lives, based upon a plethora of information, insights & data sources. Utilizing improvised solutions is still the norm in many procurement organizations. supplierrelationshipmanagement #procurement #yelp.