Silvon Software

APRIL 19, 2022

The past few years have created a lasting impact on the way business is conducted, driving many companies to analytics to gain the visibility they need to control and optimize key processes. The Basics of Procurement KPIs. There must be a clearly defined data source with a standardized process for collecting and measuring that data.

Optimal Sourcing 113

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 113

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

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

Precoro

AUGUST 26, 2021

How do you call it when you order, say, stationery for your office? Purchasing? Or procurement? Although quite similar, procurement and purchasing are two distinctive processes , and understanding the difference between them can help facilitate your organization’s success. Purchasing and Procurement at a Glance.

Pricing Training 98

Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 98

SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started?

Purchasing Training 78

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 78

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

Enterra Insights

MAY 23, 2022

Violino notes, “It’s one thing to gather large amounts of data and apply analytics to it; lots of organizations are doing that. ” Corporate leaders are always seeking the best return on investment (ROI) and, in the digital era, no investment return is more important than one obtained through advanced analytics.

Analytics Software 130

Analytics Software Procurement Analytics Predictive Analytics Analytics 130

Precoro

SEPTEMBER 2, 2022

For some businesses – usually smaller or with a single-source purchasing flow – it may be sustainable to react to the immediate needs. However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managed procurement. Office supplies would be an example of indirect procurement.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 98

Jaggaer

MARCH 23, 2020

And most importantly, what augmented analytics can do for you. Read up on How Augmented Analytics Will Transform Your Organization: A Gartner Trend Insight Report. Analytics has been with us for some time – more than a couple of decades. And that, of course, includes procurement professionals.

Procurement Analytics 78

Procurement Analytics Analytics Software Procurement Solutions Optimal Sourcing 78

EC Sourcing Group

JUNE 8, 2021

Where to Start if You’re New to Procurement Sourcing Solutions. There are many people who are not new to procurement and sourcing and its role in the supply chain but may be new to sourcing solutions and software. Procurement Sourcing Solutions : What Is Procurement Management?

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Procurement Analytics Sourcing Strategies 52

Supply Chain Shaman

DECEMBER 15, 2022

Companies became less clear on the definition of supply chain excellence and how to implement decision support technologies. In the supply chain team analysis, note the 21% gap between procurement and manufacturing teams, the 35% gap between sales and operations and the 21% gap between finance and operations. Functional Metrics.

Manufacturing Procurement 387

Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Procurement Analytics 387

SCMDOJO

SEPTEMBER 18, 2023

Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. So, get ready to elevate your communication skills and gain a deeper understanding of the procurement domain.

Negotiating Skills 97

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 97

Unleashed

JANUARY 4, 2024

Product sourcing, done the right way, can set your business up with the foundations needed for achieving maximum sales. This guide will explain how product sourcing works in modern business, best practices for finding suppliers, and list some of the most popular websites and tools for sourcing goods to sell.

Purchasing Skills 52

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 52

Unleashed

MARCH 16, 2021

Having grown sufficiently, you may find your SME business now has the need for a dedicated purchasing manager – and perhaps even a purchasing department. So if you’re a business owner who is wondering how to run a purchasing department, then check out our practical guide below. Goals of purchasing.

Purchasing Skills 59

Purchasing Skills Manufacturing Procurement Procurement Solutions Procurement Analytics 59

EC Sourcing Group

OCTOBER 5, 2021

How to Streamline Your Procurement Process from Weeks to Hours. When contract management and procurement software first arrived on the scene, overnight it became an easy way to streamline the procurement process. However, the sourcing and procurement process flow constantly changes, and its needs do as well. .

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Procurement 52

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. It involves sourcing, negotiation, ordering, delivery, and payment for goods or services. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 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.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

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.

Procurement Solutions 76

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 76

EC Sourcing Group

JUNE 28, 2022

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.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Analytics Software Optimization Software 52

Supply Chain Shaman

JANUARY 31, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Source E2open Shipping Index). Focus on Cost. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. We started the conversation with sourcing.

Procurement Analytics 217

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 217

ShipBob

NOVEMBER 22, 2021

Accurate analytics can be the roadmap to your business’s success. Knowing how your business is currently performing is critical for every ecommerce retailer. That’s why ecommerce analytics are vital if you want your DTC brand to grow. What is ecommerce analytics? Analytics: The secret weapon for top ecommerce brands.

Procurement Analytics 98

Procurement Analytics Analytics Software Analytics Optimal Sourcing 98

Precoro

JULY 8, 2022

One should keep in mind that every transaction has an additional hidden cost in labor and overheads, such as the time spent sourcing products, tracking deliveries, matching invoices, and overseeing suppliers. In the article, we look critically at the role of the purchasing manager and discuss how to determine the value of hiring one.

Purchasing Skills 98

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 98

Supply Chain Game Changer

JANUARY 5, 2021

Featuring Our 12 Best Procurement Articles! Purchase Price Variance, or PPV, is a common term in the realm of Purchasing/Procurement and Finance. For some, PPV is a mechanical metric only, measured and reported on but without any further attention paid to it. What is Purchase Price Variance (PPV)?

Pricing Training 82

Pricing Training Purchasing Skills Purchasing Training Negotiating Skills 82

Supply Chain Shaman

FEBRUARY 7, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Source E2open Shipping Index). Focus on Cost. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. We started the conversation with sourcing.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195

Precoro

DECEMBER 18, 2023

Medical institutions might not typically consider optimizing the healthcare procurement process a top priority. Yet procurement in healthcare influences the overall well-being of medical institutions and, ultimately, the quality of patient care. However, procurement in the healthcare industry has some unique aspects.

Procurement Solutions 59

Procurement Solutions Optimal Sourcing Procurement Analytics Procurement 59

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

ThroughPut

DECEMBER 8, 2023

If there’s any piece of technology or analytics that can help with the most advanced data-driven decision-making in the supply chain right now, that’s prescriptive analytics. It is the most promising form of analytics in the market currently. What Is Prescriptive Analytics in Supply Chain? How should the supplier perform?

Prescriptive Analytics Software 52

Prescriptive Analytics Software Optimal Sourcing Modeling Procurement Analytics 52

Supply Chain View from the Field

NOVEMBER 25, 2013

HanesBrands supports many different brands including Champion, Playtex, Bali, and others. The goal was to “re-balance” their supplier scorecards, and seek to identify how to identify strategic suppliers. A John Deere team discussed how they attempted to build a predictive cost model.

Procurement Analytics 60

Procurement Analytics Predictive Analytics Modeling Purchasing Skills 60

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

ThroughPut

NOVEMBER 28, 2023

Supply chain analytics combines powerful algorithms, data, and the latest technologies like Artificial Intelligence and Machine Learning to address the most elusive challenges in the supply chain right now – visibility and control. And that’s precisely what’s on the horizon for supply chain analytics.

Prescriptive Analytics Software 52

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Supply Chain Design Software 52

Supply Chain Shaman

APRIL 26, 2022

My imagination goes wild when I see new forms of analytics. I am always thinking about how supply chain planning architectures can change. In contrast, I am always questioning what makes a good decision, how to make better decisions faster, and how new technologies can transform work. Tackling Procurement.

Manufacturing Procurement 217

Manufacturing Procurement Optimal Sourcing Supply Chain Planning Software Procurement Analytics 217

QAD

APRIL 11, 2024

Artificial intelligence (AI) is one of the big “buzzwords” of 2024, which is a shame because the technology’s analytical capabilities have a lot to offer supply chain planners – if you can cut through the hype. How is AI Improving Supply Chain Management? I’m never one to jump on the bandwagon with emerging technologies.

Predictive Analytics 72

Predictive Analytics Predictive Analytics Software Supply Chain Disruption Supply and Demand 72

Procurement Academy

OCTOBER 19, 2023

A crucial part of successful procurement strategies is the art and science of negotiation. Procurement negotiation refers to a buyer (usually from a company) and a seller (usually from a supplier) working together and discussing the likes of pricing, terms, conditions, and other aspects of a procurement contract.

Negotiating Skills 52

Negotiating Skills Pricing Training Negotiate Pricing Purchasing Training 52

EC Sourcing Group

OCTOBER 4, 2022

Strategic Sourcing Solutions to Enhance Your Bottom Line. Strategic sourcing is vital to procurement and the supply chain overall, as it allows companies to gain the lowest cost of a good or service while minimizing supply chain risk. What Is Strategic Sourcing?

Negotiating Skills 52

Negotiating Skills Purchasing Skills Sourcing Strategies Procurement Solutions 52

Procurement Academy

JUNE 30, 2022

During the 1970’s oil crisis and the rampant inflation that followed, skilled procurement professionals were in demand more than ever before. While professionals have superior technology and analytics on their side, the challenges associated with procurement in a high inflation environment remain the same – and so do the solutions.

Procurement Analytics 95

Procurement Analytics Procurement Solutions Procurement Purchasing Skills 95

QAD

MAY 23, 2023

The goal, from a manufacturing perspective, is clear: learn how to do more with less as efficiently as possible while maintaining profitability and complying with due diligence legislation. The International Labor Organization reports that 27.6

Procurement Solutions 94

Procurement Solutions Supply Chain Planning Software Supplier Management Modeling Software 94

Synovos

JANUARY 16, 2024

Common MRO Supply Chain Challenges and How to Address Them The MRO supply chain is complex, regardless of the industry. For every purchased spare part there are potential challenges around lead time, parts availability, pricing, invoicing, quantity, quality, and more. Relying on a single-source provider is inviting trouble.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software 52