Precoro

OCTOBER 24, 2022

Procurement is a complex and dynamic process involving strategic planning and several stages of execution, from sourcing to paying and reporting. Supply chain management, purchase requisitions and orders, budget management, and three-way matching – all these processes are integral to procurement as a whole.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Analytics Software Sourcing Strategies 98

Precoro

NOVEMBER 13, 2023

However, only 30% of CPOs claim they have achieved their cost-saving targets in 2023. One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. Why Is Purchase Price Variance Important?

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Supply Chain Game Changer

AUGUST 21, 2022

A solid supply chain and logistics strategy is essential for large companies. Using a logistics-oriented strategy helps companies better understand their suppliers, improve customer service, and optimize shipping. Smart logistics strategies can reduce wastage and improve operational costs. Subscribe Here!

Inventory Reduction 104

Inventory Reduction Price Reduction Cost Reduction Strategies Material Savings 104

Unleashed

MAY 15, 2023

Wholesalers and manufacturers need effective B2B strategies to sustain business growth and beat the competition. From targeted email campaigns to inventory management integrations, we’ll outline how you can develop strong B2B CRM strategies to improve business performance and achieve predictable growth.

Inventory Reduction 105

Inventory Reduction Sourcing Strategies Waste Reduction Manufacturing Procurement 105

Enterra Insights

APRIL 2, 2024

That’s why self-checkout machines were first introduced nearly two score years ago — to reduce long checkout lines. The checkout kiosks bleat and flash when you fail to set a purchase down in the right spot. ”[3] All retailers, not just grocers, are suffering from inventory losses.

Security 246

Security Inventory Reduction Cost Reduction Strategies Procurement Analytics 246

Supply Chain Matters

JULY 15, 2022

This week, the company announced a reversal in manufacturing and supply chain strategy, as well as a major turnabout. Supply chain strategy, process, talent and enabling technologies each play important roles. The supply chain supporting the delivery of equipment is the de-facto facilitator of this business model.

Sourcing Strategies 105

Sourcing Strategies Cost Reduction Strategies Expense Reduction Inventory Reduction 105

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

SCMDOJO

APRIL 4, 2023

Luckily, supply chain analytics is here to help! By harnessing the power of data and analytics, companies can uncover valuable insights into their supply chain processes, pinpoint areas in need of improvement, and make informed decisions that can boost their bottom line. Key Takeaways What is Supply Chain Analytics?

Prescriptive Analytics Software 110

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Supply Chain Design Software 110

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

Synovos

JULY 24, 2023

For example, RS has reduced its Scope 1 and 2 carbon emissions by 58% since 2019/20 with progress made in the year through distribution center energy efficiencies and renewable electricity. It has also reduced its Scope 3 transportation emissions intensity by 28% since 2019/20, thereby achieving its 2029/30 goal seven years early.

Inventory Reduction 52

Inventory Reduction Sourcing Strategies Cost Reduction Strategies Government 52

crisp

APRIL 25, 2024

But challenges remain, and brands say reducing costs and maximizing efficiency across their enterprise is still a priority. CPG leaders continue to focus on plans to build greater resilience into their supply chains and business strategies as a hedge against forces such as geopolitical uncertainty and climate volatility.

Demand Planning Software 52

Demand Planning Software Supply Chain Planning Software Supply Chain Design Software Sourcing Strategies 52

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.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Logistics Viewpoints

AUGUST 15, 2022

GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. Alex Zhong, Director Product Marketing at GEP.

Supply Chain Network Software 218

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 218

Precoro

MAY 19, 2023

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

Procurement Analytics 98

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 98

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

Supply Chain Shaman

SEPTEMBER 20, 2015

Source: Dictionary.com. When I hear companies discussing the implementation of a customer segmentation strategy, I ask a series of questions: Who is your customer? What are you trying to accomplish through the execution of a customer segmentation strategy? During the year, I go to a lot of conferences. How do they buy from you?

Inventory Reduction 150

Inventory Reduction Cost Reduction Strategies Sourcing Strategies Supply Chain Strategy 150

Unleashed

JANUARY 14, 2024

Manufacturing inventory management is crucial to the success and profitability of your manufacturing operations. It refers to the process of purchasing, storing, and tracking the various goods required to build a product. In this manufacturing inventory management guide What is manufacturing inventory management?

Inventory Management Software 52

Inventory Management Software Manufacturing Procurement Inventory Reduction Inventory Management 52

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? Each requires its own portfolio of metrics. Even where the same metrics are used, there are differences.

Inventory Reduction 63

Inventory Reduction Sourcing Strategies Resource Reduction Material Savings 63

ThroughPut

DECEMBER 4, 2022

A report by Acosta, a US-based sales and marketing agency, on grocery store trends for 2021 indicates that 46% of people now use online delivery more than they did before the pandemic. Demand-driven replenishment and fulfillment can help retail planners manage large SKUs, determining each sales location and its optimal inventory targets.

Inventory Reduction 52

Inventory Reduction Resource Reduction Cost Reduction Strategies Sourcing Strategies 52

Unleashed

OCTOBER 4, 2023

The order fulfilment process covers every step required to get goods to the people who purchase them, from the moment a customer places an order to when they receive their purchase. But cost-saving isn’t the only benefit of an optimised fulfilment process. When these processes are aligned, customer satisfaction improves.

Inventory Reduction 52

Inventory Reduction Sourcing Strategies Resource Reduction Cost Reduction Strategies 52

ThroughPut

FEBRUARY 2, 2024

is advanced supply chain analytics. Advanced supply chain analytics is turning the current uncertainty into strategic foresight. In this blog, we’ll delve deeper into the potential of advanced supply chain analytics and understand why it is the need of the hour.

Prescriptive Analytics Software 52

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Predictive Analytics 52

GlobalTranz

FEBRUARY 17, 2016

This is the second part of my series on various ways to reduce overall costs as it relates to logistics and warehouse cost reductions. In the first part I put forth 6 areas of focus in order to reduce logistics costs. A Focus on Inventory Control Begets Warehouse Cost Reductions.

Cost Reduction Strategies 120

Cost Reduction Strategies Inventory Reduction Waste Reduction Vendor Strategies 120

Precoro

NOVEMBER 7, 2022

In order to run a successful business, you need a dedicated procurement team to obtain these essential goods and services, ensure timely delivery, and nurture good relationships with your vendors. Paying for offices, utilities, technology subscriptions, and cleaning services is also part of the procurement team's responsibility.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Solutions Optimal Sourcing Procurement Analytics 52

Logility

MAY 25, 2023

In today’s fast-paced and unpredictable global market, the secret to maintaining a competitive edge lies in a key area—robust inventory control techniques. Inventory control is the act of managing and organizing stock to meet customer demand without surplus or deficiency. This is where inventory control techniques come in.

Inventory Reduction 130

Inventory Reduction Inventory Management Software Optimal Sourcing Inventory 130

QAD

JULY 21, 2022

Common results of the bullwhip effect are excess inventory and associated cost increases, lost revenue, unnecessary capacity and a less-than-optimal customer experience. Price fluctuations and discounts resulting in increased purchases. Rounding up or down of the quantity of orders and batches. Integrated Supplier Management.

Price Reduction 95

Price Reduction Inventory Reduction Cost Reduction Strategies Optimal Sourcing 95

Elementum

FEBRUARY 7, 2024

Accuracy : Reduces the error rate associated with human intervention. Cost Reduction : Cuts operational costs by minimizing manual workload. This automation significantly streamlines operations by reducing manual intervention in routine tasks and ensures both consistency and accuracy across all processes.

Sourcing Strategies 78

Sourcing Strategies Supply Chain Software Optimal Sourcing Predictive Analytics Software 78

Logistics Viewpoints

JUNE 1, 2023

That’s why staying on top of the latest supply chain planning trends is so important – they can make all the difference when it comes to staying competitive, reducing costs, and meeting your customers’ needs. They are more likely to shop for discounts and sales and may delay purchases of some items.

Supply Chain Planning Software 193

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Software 193

Unleashed

JANUARY 29, 2024

Stock-keeping-unit (SKU) rationalisation is an inventory management method for improving the performance and profitability of your business. As a business strategy, SKU rationalisation helps you to reduce business costs, improve inventory management, increase operational efficiency, and enhance your brand image.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Waste Reduction Resource Reduction 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

ivalua

FEBRUARY 8, 2023

Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Work to achieve 100% supply chain visibility.

Manufacturing Procurement 242

Manufacturing Procurement Supply Chain Planning Software Supply Chain Software Optimal Sourcing 242

QAD

JUNE 25, 2019

The effective use of a manufacturer’s inventory investment is an important determinant of the company’s success. Excess and obsolete inventory is a drain on resources, as is excessive safety stock. Managing an Inventory Investment. Managing an Inventory Investment. Using Metrics to Measure the Health of the Business.

Procurement Analytics 105

Procurement Analytics Metrics Inventory Reduction Inventory 105

Supply Chain Game Changer

APRIL 21, 2020

A “Don’t Touch” Strategy will Dramatically Lean out your Supply Chain! The overarching strategy for limiting exposure to, and spreading of, the Coronavirus is that of Social Distancing. One approach is to develop and deploy Don’t Touch Supply Chain strategies! Subscribe Here! Email Address.

Waste Reduction 91

Waste Reduction Inventory Reduction Cost Reduction Strategies Material Savings 91

Unleashed

OCTOBER 16, 2023

Raw material inventory management oversees the procurement, handling, and storage of raw materials. It ensures you maintain optimal raw materials inventory levels, and therefore plays a crucial role in optimising your manufacturing processes. In this guide: What is raw material inventory management?

Inventory Management Software 52

Inventory Management Software Material Savings Inventory Management Inventory Reduction 52

OptiProERP

NOVEMBER 3, 2022

Forty-two percent of SMBs consider digital transformation a central part of their organizational strategy. Developing an Effective Digital Transformation Strategy. A digital transformation strategy is a detailed plan to improve business operations. Define Metrics to Measure Success. But where do you start?

Sourcing Strategies 52

Sourcing Strategies Inventory Reduction Cost Reduction Strategies Waste Reduction 52

Logistics Viewpoints

AUGUST 5, 2021

PwC reports that almost half of assets under management are held by investment firms committed to decarbonization. It was a rude surprise when I learned it would cost $100 to fill the tank. I was drawn to Hunter and Amory Lovins, who advocated a strategy pairing energy efficiency with renewables, long before its current popularity.

Supply Chain Planning Software 299

Supply Chain Planning Software Sustainability Material Savings Supply Chain Planning 299

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. Using a variety of synonyms can help to enrich communication, eliminate redundancy, and broaden your vocabulary.

Negotiating Skills 97

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 97