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

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? Do not worry!

Purchasing Training 78

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 78

Supply Chain Shaman

FEBRUARY 14, 2022

I wrote my first report on Sales and Operations Planning (S&OP) while sitting on the floor in the Atlanta airport in 2005 when I was an AMR Research analyst. I wrote many reports on airport floors in those days–electrical plugs were just too scarce.) Sales and Operations Maturity Model from 2005-2008. Mistake #3.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

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.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 52

ivalua

NOVEMBER 26, 2019

In my previous posts, I looked at how to successfully launch a digital transformation and progress to best-in-class Procurement. Most leaders seem to track their progress with metrics such as percent of spend managed and digitization levels, defining best-in-class as being the top quartile or similar high percentage.

Optimal Sourcing 130

Optimal Sourcing Procurement Analytics Procurement Solutions Procurement 130

GlobalTranz

SEPTEMBER 23, 2021

Fewer labor resources are available to meet the rising demand in both the warehouse and in transit. ? A Possible Stimulus on the Horizon May Increase the Challenge of Procurement Through Peak Season. A stimulus on the horizon further increases the risks of a higher trend in consumer purchasing. transportation metrics ?that

Prescriptive Analytics Software 308

Prescriptive Analytics Software Optimal Sourcing Pricing Training Negotiating Skills 308

crisp

DECEMBER 15, 2021

The pace of change is increasing exponentially, and there are innovations and learnings being shared across the industry every day. One of the big catalysts for change right now is the acceleration of data and analytics in supply chain management. Can we order from a different supplier to meet forecasted demand?

Procurement Analytics 98

Procurement Analytics Supply Chain Planning Software Manufacturing Procurement Material Savings 98

Supply Chain View from the Field

APRIL 1, 2015

Many people are talking about Key Performance Indicators, Metrics, Analytics, and other indicators of performance. The importance of selecting the right metrics or “measures” as I prefer to call them, is critical as we all know that metrics drive behaviors. Step 2 – Develop Metrics and Data Sources.

Cost Reduction Strategies 60

Cost Reduction Strategies Material Savings Inventory Reduction Resource Reduction 60

Material Handling & Logistics

OCTOBER 30, 2018

With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing. However, it is fundamental to empowering procurement success in the modern age.

Optimal Sourcing 110

Optimal Sourcing Procurement Solutions Procurement Analytics Procurement 110

SCMDOJO

FEBRUARY 29, 2024

Your supplier may charge you an agreed-upon price, but if the service is unmarked or the merchandise is of poor quality, you won’t be able to meet your savings goals. The biggest challenge is that simply offering metrics, even those that appear to be the “right” metrics, usually doesn’t produce any results.

Vendor Strategies 55

Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

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. Lower costs.

Purchasing Skills 59

Purchasing Skills Manufacturing Procurement Procurement Solutions Procurement Analytics 59

TransAudit

DECEMBER 13, 2023

Circular supply chains require multidirectional communication and innovation, so the technology must provide easy ways to accomplish this. Reward supplier innovation and progress on circular initiatives. Robust tracking, monitoring, and auditing will be essential for meeting goals.

Supply Chain Design Software 88

Supply Chain Design Software Supply Chain Design Supply Chain Software Supply Chain Optimization 88

Jaggaer

MARCH 18, 2020

His insights are numerous, and can all be heard in his full podcast episode, but among them is his main focus in 2020, the opportunity presented by agile procurement. Bartolini’s view of modern procurement is one of an industry at a crossroads. But for top CPOs , this demand is becoming harder and harder to meet.

Procurement Analytics 81

Procurement Analytics Agile and Lean Supply Chain Procurement Solutions Procurement 81

Unleashed

JANUARY 29, 2024

Discontinuing lines will help the manufacturer free up production capacity, and redirect research and development spending to focus on the development and marketing of newer or more innovative products. This helps them to meet the changing consumer demands for healthier and more sustainable products. Reduced storage and supplier costs.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Waste Reduction Resource Reduction 52

Enterra Insights

MARCH 27, 2019

Retailers have always been curious about the paths consumers take when they decide something needs to be purchased. When the Internet and World Wide Web introduced consumers to online shopping (aka e-commerce), the path to purchase became much more complex. Today the digital path to purchase is growing in importance. ”[2].

Procurement Analytics 100

Procurement Analytics Manufacturing Procurement Procurement Solutions Purchasing Skills 100

The Logistics & Supply Chain Management Society

SEPTEMBER 14, 2021

The overarching rule that all actions taken are meant to meet the needs of the present society without compromising future generations’ ability to meet their own needs, is a key driver. CEVA Logistics actively reaches out to support social innovations and engage local communities. Photo Credit: L’Oréal. MORE FROM THIS EDITION.

Resource Reduction 242

Resource Reduction Supply Chain Planning Software Global Supply Chain Software 242

Logistics Viewpoints

DECEMBER 14, 2021

It excels on a union of E-Commerce mobile apps and last-mile delivery innovations. Q-Commerce companies can leverage advanced analytics and automation technologies to make this process almost a no-touch one. More than 30 Q-Commerce companies are currently operating in Europe, and half of them were founded very recently, in 2020.

Supply Chain Planning Software 193

Supply Chain Planning Software Forecasting Software Supply Chain Design Software Optimization Software 193

Arena Solutions

OCTOBER 12, 2023

2 As the numbers indicate, there are plenty of business opportunities, market share, profit, and competition in developing complex, smart, innovative products. A QMS typically aligns with your product lifecycle management (PLM) solution and your product innovation goals. billion to $855.62 billion in 2023. billion to $799.67

Quality 88

Quality Sourcing Strategies Supply Chain Planning Software Manufacturing Procurement 88

Supply Chain Shaman

OCTOBER 8, 2019

The budget is for a fiscal year with quarter reporting and updates. Financial forecasts tend to have a negative bias (forecasts less than market potential) to ensure that employees have a better probability of meeting their bonuses. The direct connection between the two processes increases costs and increases error.

Supply Chain Design Software 186

Supply Chain Design Software Inventory Reduction Supply Chain Planning Software Forecasting 186

Supply Chain Shaman

MAY 21, 2013

We finished our report on the maturation of hospital supply chains , and I have put the finishing touches on the Healthcare Supply Chain Index for this Thursday’s webinar. The most common reporting relationship in the organization is to the hospital’s Chief Financial Officer (CFO). The mental model is one of supply.

Modeling 239

Modeling Modeling Software Pharmaceutical Procurement Analytics 239

Enterra Insights

MARCH 30, 2022

According to the staff at Scorpion Planogram, at the height of the pandemic, “Many [consumers went] to brick-and-mortar stores with specific purchases in mind, whether that meant a large, well-planned grocery trip or an expedition to find a good reusable mask.”[2] What are they buying online for curbside pickup or delivery?

Trends 130

Trends Procurement Analytics Inventory Reduction Cost Reduction Strategies 130

Supply Chain Game Changer

DECEMBER 12, 2018

Procurement – How to Enable Spend Aggregation! What is the role of the Chief Procurement Officer? The main work of a Chief Procurement Officer is to: Create a Shared Vision for the Procurement Function, aligned to organizational objectives. Select the Right Procurement Metrics. Subscribe Here!

Procurement Analytics 58

Procurement Analytics Purchasing Skills Eliminating Excel in Purchasing Procurement 58

Logistics Viewpoints

MARCH 27, 2023

Organizations then convert those demand forecasts to the associated quantities of raw materials to purchase, goods to be manufactured, or finished products to ship. It is important to benchmark forecast accuracy and similar supply chain metrics against your peers. Doing this, increases the benefits. This sounds obvious.

Forecasting 189

Forecasting Forecasting Software Modeling Optimal Sourcing 189

Supply Chain Shaman

OCTOBER 5, 2018

The award, based on beating the industry peer group on rate of improvement on the key metrics of growth, operating margin, inventory turns, and Return on Invested Capital (ROIC) while outperforming their peer group, is tough to achieve. The orbit chart below illustrates L’Oréal’s performance at the intersection of two metrics.

Case Study 261

Case Study Inventory Reduction Agile and Lean Supply Chain Study 261

Unleashed

JANUARY 24, 2022

For example, you may look after PPE and office equipment in-house but have a supplier of maintenance equipment monitor this inventory on your behalf who raises purchase orders when stocks are low. MRO inventory can account for a sizeable portion of a business’ total procurement spend. Why is MRO inventory management important?

Inventory Reduction 98

Inventory Reduction Inventory Management Software Procurement Solutions Supply Chain Software 98

Provenance

SEPTEMBER 9, 2019

To make better purchasing decisions you don’t just need information, you also need to know the integrity of that information and transparency around how and where it was created. . That’s why we get very excited when we meet people like those at Farm-Trace. . Provenance is about transparency. Image credit: Farm-Trace. HOW THIS WORKS.

Analytics Software 74

Analytics Software Sustainability Demand Planning Software Procurement Analytics 74

Unleashed

MARCH 28, 2021

Supplier Relationship Management (SRM) is a management concept frequently used by procurement and supply chain professionals. Businesses can dramatically reduce the costs associated with establishing new supplier relationships, expedite onboarding activities and relevant procurement processes. Performance optimisation.

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Negotiating Skills 111

NC State SCRC

JANUARY 18, 2018

I also predicted how this type of engagement would continue to grow in the future, as organizations begin to recognize the value of having an objective, third party view on their problems can create innovative solutions. MUFG Union Bank Strategic Performance Metrics. Yum Brands Beef Analytics. Premier Category Calendar.

Vendor Strategies 40

Vendor Strategies Optimal Sourcing Inventory Reduction Resource Reduction 40

GlobalTranz

MARCH 23, 2016

These teams and people meet daily in a “huddle” to discuss previous day goals and actual results. These metrics would, of course, be aligned and are updated every hour. The metrics are also manual as automatic metric systems cannot retrieve the information at an hourly frequency as these metrics are process inputs and not outputs.

Agile and Lean Supply Chain 120

Agile and Lean Supply Chain Manufacturing Procurement Lean Sustainability 120

GlobalTranz

OCTOBER 19, 2017

The revenue of a given distribution center is directly related to its carrying costs. Seasonal changes, changes in the pace of product ordering and products that tend to be purchased together mean a static slotting plan will eventually fail. Innovative Slotting Optimization Practices Enable Waveless Picking Too.

Optimization Software 137

Optimization Software Inventory Reduction Cost Reduction Strategies Material Savings 137

Supply Chain Game Changer

AUGUST 30, 2021

Books can help students to absorb groundbreaking innovations, new concepts and teach them more about management practices. After a chance meeting with a colleague from his college days, he realizes he has to break out of his conventional ways of thinking and knows what he has to do. Supply Chain Management for Dummies.

Agile and Lean Supply Chain 92

Agile and Lean Supply Chain Supply Chain Strategy Supply Chain Software Supply Chain 92

Enterra Insights

MAY 24, 2021

2] Two of the biggest changes in consumer behavior, brought on by the pandemic, have been an increase in online purchasing and an appreciation for touchless shopping, including options like curbside pickup. Adapting business models to align with current and future customers is not as easy as it sounds. Consumer delivery model.

Retail 130

Retail Modeling Supply Chain Planning Software Modeling Software 130

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.

Procurement Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

EcoVadis

MARCH 31, 2017

Many procurement teams are finding holistic approach can provide huge advantages. No matter what sector your business is in, you will source across dozens or even hundreds of purchasing categories, particularly when you consider indirect spend where many risks can be hidden. How do suppliers CSR performance compare to their peers?

Procurement Solutions 56

Procurement Solutions Procurement Analytics Manufacturing Procurement Supply Chain Planning Software 56

Arena Solutions

APRIL 4, 2023

As the list of new technologies and innovative software solutions keeps mounting, graduates are excited by the prospects of learning and using new technologies like cloud CAD/CAM software, 3D printing, cloud-native product lifecycle management (PLM), quality management systems (QMS), and robotics. is a highly complex process.

Manufacturing Procurement 73

Manufacturing Procurement Sourcing Strategies Inventory Reduction Cost Reduction Strategies 73

Supply Chain Shaman

SEPTEMBER 17, 2015

As shown in the 2015 Supply Chains to Admire report , over time, top performing supply chains plateau. In the evolution of today’s analytics most companies are evaluating concurrent optimization of transactional data. We are just beginning to understand how to use sentiment data and new forms of analytics. What happens?

Prescriptive Analytics Software 150

Prescriptive Analytics Software Supply Chain Design Software Supply Chain Planning Software Analytics Software 150

Silvon Software

APRIL 18, 2024

Insights gleaned from robust data analytics enable core business areas to identify opportunities for risk reduction, enhance operational efficiencies, and foster strategic initiatives that drive business growth. For example, using forecasting models to predict quarterly sales and adjust marketing spend accordingly.

Manufacturing Procurement 58

Manufacturing Procurement Procurement Analytics Analytics Software Predictive Analytics 58