Precoro

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

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Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. Procurement can be done by a government agency, a private organization, or an individual, and it can involve purchasing anything from pencils to complex machinery. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Supply Chain Shaman

APRIL 18, 2023

For organizations layered in functional metrics and driving a cost agenda, this is a tough nut to crack. In the face of variability, this is two-to-six weeks too long to make allocation or procurement decisions. The traditional leader values cost reduction but is blind on how to value time. Tougher than most understand.

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Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Supply Chain Software 408

OptiProERP

APRIL 9, 2024

This stage involves scheduling resources, allocating the workforce, and coordinating tasks to fulfill the order efficiently. Collaboration between production, procurement, and logistics teams is essential to optimize resource utilization and minimize lead times.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Inventory Management Software 52

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

Unleashed

JUNE 8, 2023

Behind every successful product business is a thoughtful procurement strategy designed to optimise the supplier management and purchasing process. This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success.

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Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

Precoro

SEPTEMBER 2, 2022

However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managed procurement. It pays off to develop a procurement strategy, hire a team of professionals, and acquire necessary technologies early on. Being prepared allows for efficient and timely execution of procurement functions.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 98

SCMDOJO

APRIL 26, 2023

Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.

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Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 77

Silvon Software

APRIL 18, 2023

While clearly important in today’s constantly changing business environment, so many companies continue to struggle with how to measure and improve their performance – grappling with questions like: Which metrics really matter? How do we get buy-in around the organization? Each requires its own portfolio of metrics.

Inventory Reduction 64

Inventory Reduction Sourcing Strategies Resource Reduction Material Savings 64

Supply Chain Shaman

SEPTEMBER 22, 2022

Instead, I find most are visibility projects without clarity on how to tie improved visibility to enterprise processes. So, if you are attempting to implement a control tower project, please don’t waste your money or resources. Procurement/Buyers Workbench. Here are some articles to read. Lights-out Planning.

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Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Modeling 431

SCMDOJO

DECEMBER 14, 2023

In supply chain management, total lead time is a crucial metric encompassing the period from customer order to delivery, be it in B2B or B2C scenarios. Procurement Lead Time: Efficient procurement lead time ensures timely access to raw materials, a fundamental step toward efficient production.

Inventory Reduction 78

Inventory Reduction Vendor Strategies Waste Reduction Cost Reduction Strategies 78

Unleashed

MARCH 21, 2021

The procure to pay process is complex and far more than simply making a phone call, or sending a few emails to arrange the purchase of goods. Strategically approaching the procure to pay process can see your company reap the rewards. In this guide, we’ll cover: What is the procure to pay process. Measuring and reporting.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

NC State SCRC

JULY 27, 2021

I recently spoke at the National Contract Management Association on the subject of human capital in supply chains , and the need for building leadership skills in our procurement and supply chain professionals. ” The study finds that that successful companies: link performance metrics to broader strategic goals.

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Procurement Negotiate Pricing 52

NC State SCRC

NOVEMBER 2, 2023

Lessons Learned from a Career in Procurement As part of our weekly Supply Chain Leadership, I interviewed Howard Richman, who I am co-authoring a new book with (“Procurement Confidential”). He observed how private corporations have the highest impact on how resources are used and decided to get an MBA in finance.

Procurement Analytics 52

Procurement Analytics Negotiating Skills Manufacturing Procurement Optimal Sourcing 52

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? Analyze performance metrics and implement improvements to enhance efficiency.

Optimal Sourcing 77

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 77

Unleashed

AUGUST 20, 2023

Here we break down what lead time is, the types of lead times in supply chain management , the factors that affect lead time, and how to shorten lead times to provide a better customer experience. Lead time is a vital business metric that directly impacts customer satisfaction, workflow efficiency, and delivery time accuracy.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

Precoro

JULY 16, 2023

Thought-out practices and well-managed workflows within the purchasing department are crucial for making sure that the company has the necessary resources available at the right time and at a reasonable cost. The purchasing department plays a critical role in the success of an organization.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Supply Chain Shaman

FEBRUARY 1, 2024

Optimization engines to improve functional metric performance resulted in an exploding number of planners. The more integration points of Advanced Planning System (APS) to Enterprise Resource Planning (ERP), the larger the bullwhip impact. Current approaches result in black hole automation and bullwhip amplification.

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Supply Chain Planning Software Optimal Sourcing Manufacturing Procurement Waste Reduction 370

Precoro

AUGUST 15, 2022

What biggest challenges and benefits can you expect, and how to avoid common mistakes when switching to ERP systems? What Is ERP, and How Does It Work? There are three main types of enterprise resource planning software that function with different deployment model options: on-premise ERP , cloud ERP , and hybrid ERP.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Design Software Procurement Solutions Optimization Software 52

ShipBob

OCTOBER 4, 2023

However, good inventory management also requires strategic inventory reduction instead of simply procuring more goods. You’ll also learn some effective strategies on how to reduce inventory levels to save costs. This helps businesses to get more out of their procurement budget and increase their profits. Let’s get started.

Inventory Reduction 52

Inventory Reduction Waste Reduction Cost Reduction Strategies Expense Reduction 52

ThroughPut

SEPTEMBER 10, 2021

Supply chain material flow is monitored across the stages of Planning , Procuring, Producing, Delivering, and Returning. Data procured through real-time metrics can drive up sales , bring down wastages and lead to a robust supply chain. Regulate supply chain material flow. Enhanced visibility through real-time monitoring.

Optimal Sourcing 52

Optimal Sourcing Supply Chain Optimization Optimization Software Supply Chain Planning Software 52

SCMDOJO

FEBRUARY 29, 2024

The biggest challenge is that simply offering metrics, even those that appear to be the “right” metrics, usually doesn’t produce any results. The questions that are most often asked are: What metrics should I use? What metrics do others (in my industry) use? Where do I begin?

Vendor Strategies 55

Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

Elementum

FEBRUARY 7, 2024

Gone are the days of tedious, manual processes; today, AI-powered solutions are streamlining operations, enabling businesses to focus their human resources on strategic initiatives rather than routine tasks. Businesses gain agility and can focus human resources on strategic work.

Sourcing Strategies 78

Sourcing Strategies Supply Chain Software Optimal Sourcing Predictive Analytics Software 78

Precoro

DECEMBER 11, 2023

In this blog post, we explore what constitutes the strategic sourcing process, how to design and execute such a process, and how it can help your organization thrive. As part of the larger procurement process, sourcing involves finding and evaluating suppliers for goods or services that need to be purchased.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

EcoVadis

SEPTEMBER 12, 2019

Executive commitment to sustainable procurement is at an all-time high, but several roadblocks continue to impact organizational ROI. Internal resources (42 percent). Nearly half of procurement organizations (45 percent) indicated they only have visibility into tier-1 suppliers. Program costs (38 percent).

Optimal Sourcing 40

Optimal Sourcing Sustainability Procurement Supply Chain Planning Software 40

ShipBob

DECEMBER 13, 2023

By the end of this article, you’ll gain insights into which inventory health indicators you should be monitoring, how to overcome common inventory management hurdles, and see how a third-party logistics provider like ShipBob can help. These metrics provide valuable insights into how well your inventory is managed.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Inventory Reduction Inventory Management Software 52

GlobalTranz

MARCH 23, 2016

How can we Continuously Improve Daily and Sustain a Lean Culture and Behavior? First and foremost, look to your people, the best resource you have. How to Breakthrough Lean Culture Plateaus. Practices and learns how to apply Lean tools. These metrics would, of course, be aligned and are updated every hour.

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Agile and Lean Supply Chain Manufacturing Procurement Lean Sustainability 120

Unleashed

MARCH 16, 2021

So if you’re a business owner who is wondering how to run a purchasing department, then check out our practical guide below. How to set up a purchasing department. Creating procurement policies and procedures. And while this is an exciting step, we understand it can also be a tad overwhelming. Goals of purchasing.

Purchasing Skills 59

Purchasing Skills Manufacturing Procurement Procurement Solutions Procurement Analytics 59

Supply Chain Game Changer

NOVEMBER 28, 2018

Resources spent/gains made on the road to innovation are, therefore, sustained exclusively by the internal entity. In relation to collaborative supplier innovation, it is important that procurement and sourcing teams remember that the supplier is an equal party/partner in the collaboration. Define Goals and Values.

Innovation 59

Innovation Procurement Analytics Resource Reduction Procurement Solutions 59

Unleashed

NOVEMBER 2, 2023

Keep reading to learn what a production schedule is, how to create one, and the actionable tips that’ll help you maximise success and improve productivity in your production scheduling process. When you create your production schedule, allow flexibility for changes to dates, tasks, and resources.

Manufacturing Procurement 52

Manufacturing Procurement Examples Sourcing Strategies Supply Chain Planning Software 52

SupplyShift

NOVEMBER 4, 2020

There has never been a better opportunity than now to prove the value of a transparent supply chain to your business, and due to this, you likely have a better shot at getting the resources you need to make it happen. Kraft Heinz set a good example of how to do this earlier in the year.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Planning Supply Chain Software Gartner 52

SupplyShift

NOVEMBER 4, 2020

There has never been a better opportunity than now to prove the value of a transparent supply chain to your business, and due to this, you likely have a better shot at getting the resources you need to make it happen. Kraft Heinz set a good example of how to do this earlier in the year. 2021 Supply Chain Transparency Checklist.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Planning Supply Chain Software Gartner 52

Logility

AUGUST 4, 2023

And, while every supply chain planning vendor worth their mettle will focus on value creation and delivery (some of us actually mean it, and know how to deliver it), you don’t always have to wait for that first vendor conversation for this to happen. Tap into people with experience and successful track records of writing clear business cases.

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Supply Chain Planning Software Supply Chain Design Software Supply Chain Software Vendor Strategies 208

Supply Chain Game Changer

JANUARY 30, 2019

Procurement bridges the gap between product, internal stakeholders and customers. In order to support the weight of internal and external expectations, Procurement teams must be prepared to perform as a key value adder within an organization. Developing KPIs is crucial, and individual, to the infrastructure of your Procurement team.

Procurement Analytics 56

Procurement Analytics Optimal Sourcing Procurement Negotiating Skills 56

Unleashed

MARCH 28, 2021

We’ll define this crucial management concept and explain how you can implement and improve supplier relationship management to leverage business success. Supplier Relationship Management (SRM) is a management concept frequently used by procurement and supply chain professionals. What is supplier relationship management?

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Negotiating Skills 111

SCMDOJO

APRIL 11, 2023

It covers the basics of procurement, including procurement strategies, contract management, and supplier selection. You’ll also learn about supply chain management and the various stages of the procurement process. Pros: It forms part of the CIPS Level 2 Certificate in Procurement and Supply Operations qualification.

Supply Chain Design Software 114

Supply Chain Design Software Course Supply Chain Planning Software Supply Chain Software 114

SCMDOJO

JANUARY 23, 2023

List of Top 10 Supply Chain Analytics Books 1) Supply Chain Metrics that Matter (Wiley Corporate F&A) 1st Edition This book offers an in-depth guide to understanding the link between corporate financials and supply chain maturity, evaluating the progress of over a hundred companies from 2006-2013.

Prescriptive Analytics Software 122

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Predictive Analytics 122