Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. What Is Procurement Process?

Optimal Sourcing 97

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 97

Taulia

JANUARY 4, 2023

Supply chain management comprises parts including supplier management , sourcing, procurement, the accounts payable process , manufacturing, and the delivery of finished products. What is demand forecasting? Demand forecasting is the process used by businesses to predict future demand for a product or service.

Forecasting 52

Forecasting Modeling Optimal Sourcing Supply and Demand 52

CHAINalytics

FEBRUARY 22, 2022

So, we figured it was time to dust off the old Chainalytics crystal ball and throw our hat into … The post 2022 Transportation Market Forecasting & Your 2022 US Trucking Outlook appeared first on Chainalytics.

Forecasting 119

Forecasting Transportation Logistics Network Optimization Software Industrial 119

Logistics Viewpoints

APRIL 1, 2021

In a previous post , I made a case for how the Chief Supply Chain Officer (CSCO) and Chief Procurement Officer (CPO) are smarter together. Accordingly Supply Chain and Procurement will need continuous collaboration. Such sourcing events can be in the context of direct materials or logistics capacity.

Optimal Sourcing 188

Optimal Sourcing Manufacturing Procurement Procurement Analytics Procurement Solutions 188

Precoro

DECEMBER 11, 2023

To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing. Strategic sourcing is a holistic approach to supply chain management that includes tactics for optimizing the total cost of ownership, improving supplier relationships, and ensuring long-term value creation.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

DynaSys

APRIL 28, 2021

We should not consider year 2020, and probably H1 2021, as a relevant set of data for forecasting calculation. My next S&OP run is coming, and I must find a solution to deal with sales forecasting after Covid. Based on the real demand, I can operate my supply planning without using precisely wrong forecasts. It’s a given!

Forecasting 52

Forecasting Forecasting Software Optimal Sourcing S&OP 52

ThroughPut

DECEMBER 4, 2022

When demand can be anticipated with accuracy, it can be delivered efficiently with demand forecasting techniques. Using an AI-driven retail replenishment software and planning solution that tracks inventory can help planners easily forecast and balance store demand to provide accurate SKU level replenishment.

Inventory Reduction 52

Inventory Reduction Resource Reduction Cost Reduction Strategies Sourcing Strategies 52

Precoro

JANUARY 29, 2024

As the department overseeing an organization's external expenditure, procurement is responsible for softening the impact of inflation. In this article, we will discuss how a robust procurement management plan can help address and mitigate the effects of inflation. Procurement methodology. Objectives and scope.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Planning Software 98

ivalua

OCTOBER 22, 2020

This month Gartner published its eagerly awaited Magic Quadrant for Procure-to-Pay (P2P) Suites , ranking the top 14 vendors based on ability to execute and completeness of vision. This year’s edition comes at an interesting time, with the Covid-19 pandemic having shifted Procurement priorities and employee working practices.

Procurement Solutions 147

Procurement Solutions Supply Chain Planning Software Supply Chain Software Forecasting Software 147

Unleashed

JANUARY 8, 2024

Procurement management directly impacts your bottom line, making it a critical component of running a profitable product-based business. In this article, we look at the different stages of procurement management. We’ll also explore project procurement management and the relationship between procurement and supply chain management.

Procurement Solutions 52

Procurement Solutions Pricing Training Negotiating Skills Purchasing Skills 52

ivalua

JUNE 6, 2022

As we move from using data to report historical information to supporting forecasting, the degree of data required increases dramatically, as does the need for refreshes. This lack of training can be seen in common sourcing activities. The post Is Your Procurement Data Fit for Purpose? appeared first on Ivalua.

Optimal Sourcing 130

Optimal Sourcing Procurement Data Pharmaceutical 130

Vanguard Software

MAY 4, 2021

However, there are quite a few ways to improve demand forecast accuracy. Here are seven ways to improve demand forecast accuracy for increased operational efficiency and profit. The Business Case for Demand Forecasting. The first step in the forecast process is to determine assumptions, or starting values.

Forecasting 52

Forecasting Forecasting Software Supply and Demand Modeling 52

Vanguard Software

MAY 4, 2021

However, there are quite a few ways to improve demand forecast accuracy. Here are seven ways to improve demand forecast accuracy for increased operational efficiency and profit. The first step in the forecast process is to determine assumptions, or starting values. Produce a range of forecasts. Webinar: Register Now.

Forecasting 52

Forecasting Supply and Demand Forecasting Software Modeling 52

Logility

AUGUST 31, 2023

In most cases, their legacy ERP or supply chain solutions cannot support the real-time, frequent forecasting and inventory planning needed to get ahead of margins pressures, rising costs, and shifts in consumer demand. It used to take two people anywhere from 10 to 15 days to create a 12-month forecast.

Consumer Goods 185

Consumer Goods Network Optimization Software Optimal Sourcing Inventory Reduction 185

Logistics Viewpoints

JUNE 29, 2023

PO Collaboration focuses on maintaining accurate demand forecasts, timely communication with suppliers, and efficient replenishment processes to ensure optimal stock levels and minimize stockouts. Configure to Order: This strategy involves customizing standard products based on customer specifications. Nari Viswanathan is currently Sr.

Manufacturing Procurement 185

Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 185

Supply Chain Matters

MARCH 22, 2022

In this Supply Chain Matters commentary, we highlight the latest OECD global economic forecast in the ongoing light of the Ukraine conflict and provide some additional industry supply chain implications. . It this agency’s prior December 2021 forecast, OECD had forecasted that global GDP growth would moderate to 4.5

Forecasting 52

Forecasting Ukraine Price Reduction Inventory Reduction 52

Logistics Viewpoints

JANUARY 17, 2023

Over the past few years, supply chain and procurement pros have faced the challenge of navigating their enterprises through one disruption after another. Despite their best efforts, current events and market dynamics caught up with them, leading to issues managing their suppliers and sourcing the materials needed for their products.

Prescriptive Analytics Software 193

Prescriptive Analytics Software Predictive Analytics Software Supply Chain Software Forecasting Software 193

ivalua

MAY 9, 2023

Ivalua Spend Management Insights [ivory-search] Procurement in the Age of Uncertainty: 4 Lessons from the New Forrester Study May 9, 2023 | | Innovation by Alex Saric In today’s age of uncertainty, procurement departments are under tremendous pressure. Fortunately, the report shows that procurement is putting actions behind words.

Optimal Sourcing 130

Optimal Sourcing Study Procurement Supply Chain Planning Software 130

Supply Chain Shaman

SEPTEMBER 13, 2023

Given your expertise, I’d love to hear what alternatives you recommend for better demand forecasting and real-time visibility beyond what’s commonly adopted today.” I know that your primary focus is procurement. I find 80-90% of companies are degrading the forecast through traditional thinking.) Go to the source.

Supply and Demand 370

Supply and Demand Supply Chain Planning Software Modeling Demand Planning 370

EC Sourcing Group

JULY 20, 2023

The energy sector faces several unique procurement challenges, such as complex supply chains, volatile commodity prices, strict regulatory requirements, and the need for sustainable and socially responsible sourcing. Supplier Performance Management : Maintaining effective relationships with suppliers is crucial in this sector.

Optimal Sourcing 52

Optimal Sourcing Analytics Software Optimization Software Forecasting Software 52

Demand Driven Technologies

JANUARY 26, 2024

We were recently approached to tender by a company looking for a forecasting and procurement solution. Read more Source The tender included all the buzzwords of the moment: AI, big data, and a system that could process millions of planning actions per day (sic).

Supply Chain Transformation 94

Supply Chain Transformation Supply Chain Planning Software Forecasting Supply Chain Planning 94

Procurement Academy

OCTOBER 19, 2023

A generic approach to training is not the solution to the increasing range of challenges facing procurement teams. This means that skills enhancement across wider roles is required for procurement professionals, with a focus on role-specific learning.

Buyer Training 52

Buyer Training Purchasing Training Negotiating Skills Optimal Sourcing 52

Precoro

AUGUST 14, 2023

More and more companies are acknowledging the importance of centralizing and optimizing their procurement operations. One of the ways to accomplish this is to establish a procurement team to streamline ordering by centralizing purchases and improving supplier relations. What are the duties of a procurement manager?

Negotiating Skills 98

Negotiating Skills Purchasing Skills Buyer Training Procurement Solutions 98

Resilinc

MARCH 26, 2024

While these solutions all utilize predictive AI, they rely on different models, including regression models, time series forecasting, classification models, clustering models, recommendation models, and simulation models. Time Series Forecasting: Commodity Tracking and Predictions What is time series forecasting?

Modeling 114

Modeling Supply Chain Risk Management Modeling Software Risk Management 114

Logility

NOVEMBER 28, 2023

The transformation of planning, sensing, and forecasting A key area in the S&OP process where AI is particularly transformative is demand. By moving beyond conventional, backward-looking methods, planning can forecast demand and inventory at the speed of the market. AI can help with that.”

S&OP 130

S&OP Supply and Demand Supply Chain Planning Software Scenario Planning 130

Logility

APRIL 22, 2013

” scenario: in many supply chain organizations, sub-SKU forecasting (the task of translating high-level forecasts into specific quantities by size, color, configuration, region, etc.) falls on the shoulders of the sourcing and supply functions, rather than the demand planners. Does that make it right?

Forecasting 101

Forecasting Modeling Supply and Demand Sourcing Strategies 101

Logility

APRIL 22, 2013

” scenario: in many supply chain organizations, sub-SKU forecasting (the task of translating high-level forecasts into specific quantities by size, color, configuration, region, etc.) falls on the shoulders of the sourcing and supply functions, rather than the demand planners. Does that make it right?

Forecasting 100

Forecasting Modeling Supply and Demand Sourcing Strategies 100

QAD

JUNE 29, 2021

In their list of common nightmare scenarios to try to prepare for, few procurement leaders could have predicted the business disruptions of 2020. Brent discusses how now is the time for enterprises to redouble their efforts to upgrade their operations with digital technologies and innovations that improve sourcing and supplier management.

Optimal Sourcing 94

Optimal Sourcing Manufacturing Procurement Sourcing Strategies Prescriptive Analytics Software 94

EC Sourcing Group

FEBRUARY 8, 2023

Legacy sourcing methods work against you. From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business. Sourcing Strategies in Procurement: What Is Traditional Sourcing?

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Sourcing Strategies Negotiating Skills 52

EC Sourcing Group

JULY 26, 2022

Read on to better understand of advanced analytics, their benefits, and how they will improve your sourcing outcomes. Here are some types to consider: CPO Cockpit: Chief procurement officers acquire goods and services and use workflow management systems to meet a company’s organizational goals while reducing costs and increasing profit.

Optimal Sourcing 52

Optimal Sourcing Analytics Software Predictive Analytics Sourcing Strategies 52

ivalua

DECEMBER 14, 2020

What we learned about agility and resilience can be applied to future-proof the source-to-pay (S2P) process and help organizations meet any new challenge with confidence. The job of sourcing professionals is to understand the risk in the supply chain and manage it so they can react quickly when a problem occurs.”

Procurement Solutions 130

Procurement Solutions Optimal Sourcing Manufacturing Procurement Optimization Software 130

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

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

ModusLink Corporation

SEPTEMBER 1, 2023

Procurement experts face transportation costs, customer demands, and high pressure on global container and air freight rates. But what does that mean for future strategies in procurement ? Let’s think back on demand forecasting and warehousing management. Ongoing Optimization Shippers must optimize their procurement strategies.

Optimal Sourcing 78

Optimal Sourcing Supply Chain Software Supply Chain Planning Software Manufacturing Procurement 78

The Logistics of Logistics

OCTOBER 30, 2023

LeanDNA is a cloud-based supply chain execution platform that helps discrete manufacturers digitally transform their procurement operations. The company centralizes data from multiple sources to manage inventory, simplify change management, and improve data quality.

Optimal Sourcing 241

Optimal Sourcing Inventory Reduction Supply Chain Design Software Manufacturing Procurement 241

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management.

Negotiating Skills 87

Negotiating Skills Purchasing Skills Negotiate Pricing Procurement Analytics 87

Synovos

JANUARY 8, 2024

Procurement culture: challenging the old, developing the new One of the biggest challenges facing the indirect procurement industry today is digitalization. Will procurement roles continue to exist? The big question is whether procurement roles like mine will still be around in years to come. Often it is not.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Procurement Cost Reduction Strategies 52