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The Importance of Using Supply Chain Management Software in Procurement

EC Sourcing Group

When you’re trying to control the entire procurement process within the supply chain, you want to make sure that you have the best software for your needs at your side so that everyone—you, vendors, and suppliers, are getting their needs met within the supply chain. Procure-to-pay operations. Includes purchase orders.

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Optimize Your Tail Spend with Analytics

EC Sourcing Group

Tail spend examples include purchases that are often too small to go through procurement, such as basic office supplies or employee gifts. Because purchases are small, they usually fall through the cracks, making it tough to gauge your overall spend. Keep in mind that tail spend encompasses many purchases and definitions.

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Spend Analysis in Supply Chain Management

EC Sourcing Group

The broader picture beyond procurement is the supply chain, as procurement (or purchasing) is just one step in the supply chain. . As there are many steps in the supply chain, there are many steps in procurement and procurement management. In this step, you merge the data into one file to run an accurate report.

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Top 4 Considerations for Supplier Management Software Solutions

EC Sourcing Group

Effectively managing your suppliers is an integral part of the procurement process (and important to the entire supply chain as well). Management doesn’t refer to suppliers being “under” you but instead refers to managing vendor transactions and cultivating good relationships with your third-party vendors or suppliers.

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Why Traditional Sourcing Methods are Holding You Back

EC Sourcing Group

From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business. With the new sourcing methods and strategies available in 2023, you can eliminate those hassles and focus on what matters most—growing your business.

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Why You Should Choose Companies with Green Supply Chains

EC Sourcing Group

A green supply chain reduces the harm that may occur at any stage of the procurement cycle—production, purchasing, logistics, material management, or distribution. It also contributes to reducing a company’s carbon footprint, which makes it more attractive to consumers. Risk reduction. In March 2022, the U.S.

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What Is Spend Analysis?

EC Sourcing Group

The process of spend analysis has specific goals of efficiency and saving money by increasing visibility into spend, which can decrease overall procurement costs. is vital to procurement and the supply chain. They can help automate your process and streamline procurement and eSourcing. Some include: Licensed software.