Precoro

MARCH 31, 2023

March 21 was the second annual iteration of World Sustainable Procurement Day , an online event organized by the Sustainable Procurement Pledge team, SPP Chapters, SPP Champions, and partners to raise awareness about the importance of ethical procurement and to share the best sustainability practices with organizations worldwide.

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Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 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?

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Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

ShipBob

FEBRUARY 3, 2023

By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. A retail KPI (or “Key Performance Indicator”) refers to a quantifiable metric used to measure how a retail business is performing. What is a retail KPI?

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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

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.

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Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Breaking Boundaries: Exploring Generative AI’s Impact on Supply Chains Supply chains encompass many interconnected activities, from procurement, production, and inventory management, to logistics and distribution. Generative AI can help industries solve challenges and improve operational efficiency.

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Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

Precoro

JULY 16, 2023

These goals can be expressed as key performance indicators (KPIs) – relevant functional metrics that can be tracked regularly to make sure that the business makes purchases in an efficient way. We have selected 5 fundamental KPIs that purchasing managers should consider.

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Logility

AUGUST 25, 2020

Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. While Key Performance Indicators (KPIs) may be reviewed quarterly or monthly, the speed with which supply chain operations occur makes a daily view of more tactical and operational metrics a growing necessity.

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Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 173

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”). At Mars, procurement (commercial as it was called) was one of the most highly regarded of the professions.

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Procurement Analytics Negotiating Skills Manufacturing Procurement Optimal Sourcing 52

EcoVadis

MAY 31, 2018

Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric. Sustainable procurement is one of the four themes of our assessment; it has its own theme score and is included in the overall rating.

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Procurement Analytics Metrics Sustainability Optimal Sourcing 68

Supply Chain Shaman

FEBRUARY 14, 2022

Industries carried on average 32 days more inventory in 2020 than in 2007. (I Organizations can align to drive value despite the allegiance to functional metrics. The industry considers the company a leader, but I know the dark side that internally, the IT processes squash innovation. I give you this evidence in this blog.).

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S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

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?

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Unleashed

AUGUST 20, 2023

In manufacturing, for example, lead time refers to the amount of time it takes for a product to move through the entire production process , from when the initial order or request was made to the final delivery. Lead time is a vital business metric that directly impacts customer satisfaction, workflow efficiency, and delivery time accuracy.

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Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

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Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 16

Procurement Academy

OCTOBER 2, 2023

In this environment, making the decision to properly invest in training that is timely, specialized, and high-quality can make or break an organization’s ability to stay ahead of the curve in shifting industry landscapes. In specialist industries, like supply chain or procurement, this task is even more crucial.

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Buyer Training Training Price Mitigation Strategies Supply Chain Planning Software 52

QAD

FEBRUARY 7, 2023

Not to be confused with supplier risk management, supplier relationship management refers more to effectively managing supplier relationships to achieve better business outcomes. These can be unique to your business or industry, but factors like quantity, quality, location, and price are commonly used.

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Price Reduction Material Savings Vendor Strategies Inventory Reduction 97

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.

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Inventory Reduction Vendor Strategies Waste Reduction Cost Reduction Strategies 76

Supply Chain Matters

JULY 7, 2023

According to the June report summary , the primary driver of the latest decline was the inventory metric, which reportedly contracted 6.5 Consequently, the warehousing capacity metric increased a reported 6.8 Both metrics contributed to the overall contraction in the LMI along with contracting price levels for transportation.

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Negotiating Skills Logistics Network Optimization Software Inventory Reduction Negotiate Pricing 52

NC State SCRC

JUNE 27, 2017

In my earlier book with Gerard Chick on “ The Procurement Value Proposition “, we advance the notion that buildoing a business case for investing in people, process, and technology improvement in procurement is key. This is effectively a “snapshot” in time. and “What is the potential return on investment?”

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Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement 40

SCMDOJO

MARCH 8, 2024

In this blog, we’ll explore some key inventory optimization strategies that can benefit businesses of all sizes and industries. Reduction of Minimum Order Quantity (MOQ): MOQ refers to the minimum quantity of a product that a supplier is willing to sell. Optimize the process where required based on feedback and performance.

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Inventory Reduction Optimal Sourcing Resource Reduction Cost Reduction Strategies 80

SCMDOJO

AUGUST 16, 2023

In this context, Walmart, the world’s largest retailer, has demonstrated a highly successful and integrated Walmart supply chain, propelling its growth and dominance in the retail industry. One of the key elements of the EDLC policy is the direct procurement of items from suppliers, eliminating intermediaries in the process.

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Inventory Reduction Vendor Strategies Supply Chain Planning Software Price Reduction 75

Supply Chain Shaman

JUNE 6, 2013

In the cereal industry, General Mills and Kellogg are fierce competitors. Closing the gaps happens when there are aligned metrics, clarity of vision and aligned planning processes. The length of the duration will vary by industry, but is usually at least one year and often three to five. Metrics Alignment.

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Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Scenario Planning 281

Supply Chain Shaman

OCTOBER 20, 2012

Seemingly, most supply chain leaders that are reading the press, or going to industry conferences, would believe that all four statements are true. We are trying to understand how supply chain leaders have raised the bar at the intersection of these four sets of metrics on the supply chain effective frontier. The reason?

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Inventory Reduction Cost Reduction Strategies Resource Reduction Material Savings 262

ShipBob

APRIL 26, 2023

The upstream supply chain refers to the flow of inventory in the pre-production stage, mostly in relation to the organization’s suppliers. This was followed shortly by the Great Resignation, with resignation rates in the manufacturing industry almost hitting 60% in late 2021. Let’s get into it. What is the upstream supply chain?

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

ShipBob

DECEMBER 13, 2023

Inventory” can refer to finished goods as well as the materials used to make those goods, whereas “stock” refers solely to finished goods. These metrics provide valuable insights into how well your inventory is managed. What is the meaning of inventory health in the healthcare industry?

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SCMDOJO

JULY 24, 2023

Let’s take a closer look at these stakeholders and their roles: Shippers: Shippers are businesses that produce or procure goods and require them to be transported to their intended destinations. SLAs should cover key metrics such as on-time delivery, order accuracy, inventory accuracy, and customer service responsiveness.

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Logistics Network Optimization Software Optimal Sourcing Negotiating Skills Inventory Management Software 91

GlobalTranz

NOVEMBER 19, 2018

Let’s Get into the Specifics Think about this: 79 percent of companies with high-performing supply chains (these are often referred to as Supply Chain Leaders (SCLs)), have revenue growth that is significantly above their industry average, according to this report by Deloitte.

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Supply Chain View from the Field

NOVEMBER 12, 2014

I was in Houston yesterday evening, speaking to a large group of procurement executives at a roundtable held by KPMG’s Procurement Advisory Group, at the fabulous Brennan’s restaurant on Smith Street. However, with the price of oil down in the $70′s, I did sense a bit of uneasiness in the air.

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American Global Logistics

DECEMBER 7, 2022

But the supply chain industry resolved some major issues and formed a more certain path ahead. Originally, industry stakeholders believed this would be nominal. This metric, referred to as a “Frankenstat” due to its grand scope, has many critics. It wasn’t a breakthrough year. That’s par for the course.

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American Global Logistics

SEPTEMBER 12, 2023

Supply chain management plays a crucial role in the success of businesses across industries. It involves coordinating and integrating various activities, from procurement to production to distribution, to ensure the seamless flow of goods and services. This innovation significantly increased efficiency.

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Supply Chain Shaman

DECEMBER 13, 2015

For access to the report on business networks reference this r eport. She is trying to redefine the industry analyst model to make it friendlier and more useful for supply chain leaders. Lora has written the books Supply Chain Metrics That Matter and Bricks Matter , and is currently working on her third book, Leadership Matters.

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Manufacturing Procurement Procurement Analytics Supply Chain Network Software Procurement Solutions 150

ShipBob

SEPTEMBER 24, 2021

Warehouse key performance indicators (KPIs) are metrics associated with warehouse performance. Below is a breakdown of the different warehouse KPIs by type and what metrics to follow. Here are the essential metrics to track, so you can measure the effectiveness of your warehouse inventory management process. Inventory KPIs.

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BlueYonder

SEPTEMBER 4, 2020

In supply chain, diversity expands beyond a range of age, race, gender, orientation, and cultural backgrounds in the workforce – it should be carried across to procurement. [i] This is especially significant for tech companies, start-ups and industries like supply chain where innovation is the key to growth.

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Supply Chain Planning Software Supply Chain Software Supply Chain Network Software Resource Reduction 58

Unleashed

MARCH 9, 2021

What is procurement? In simple terms business procurement is the process of locating and acquiring goods and services from external sources for the business to use. Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis. Procurement in 2021 and beyond.

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Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

Unleashed

JANUARY 24, 2022

MRO stands for Maintenance, Repair and Operations and refers to the MRO of the machinery, equipment, and tools necessary to run a business. In many industries PPE accounts for a significant amount of MRO inventory spend, and as the current pandemic has shown, it is essential to maintain effective MRO inventory control.

Inventory Reduction 98

Inventory Reduction Inventory Management Software Procurement Solutions Supply Chain Software 98

Supply Chain Shaman

JUNE 21, 2016

The metrics reward functional thinking. The focus of APICS is manufacturing, CSCMP’s foundation is in logistics, and ISM serves the procurement organization. For reference, 52% of companies have a network design group, and 40% of these companies think that they do it well. The silo’d organization is insular.

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Supply Chain Design Software Supply Chain Planning Software Network Design Software Modeling 164

Logistics Bureau

OCTOBER 19, 2020

In fact, SCOR is actually an entire reference model for supply chain performance management and improvement, in which benchmarking plays just one part. As beneficial as it may be, it’s rare for internal benchmarking to take a company all the way to best-in-class in its industry. Good Data is Key to Success with SCOR.

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