Precoro

NOVEMBER 11, 2024

These benefits aren’t just about lower prices; they’re also about reducing transportation and inventory costs, which can really add up over time. After the approval stage, the team reaches out to trusted suppliers in their catalog who can deliver the goods. They also continuously track supplier performance.

Pricing Training 105

Pricing Training Expense Reduction Price Reduction Purchasing Training 105

Jaggaer

OCTOBER 24, 2024

Building Stronger Relationship s : Effective Approaches to Multi-Tier Supplier Collaboration A chain is only as strong as its weakest link—but what if you can’t evaluate the entire chain? Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supply chain.

Negotiate Pricing 52

Negotiate Pricing Optimal Sourcing Supply Chain Planning Software Negotiating Skills 52

Silvon Software

APRIL 19, 2022

Procurement is one core process area being focused to better manage today’s fluctuating change, with key performance metrics leading the way to assessing and managing procurement performance. Supplier KPIs. On-time delivery measures the reliability of a company’s suppliers with regard to delivering shipments when promised.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

SCMDOJO

FEBRUARY 26, 2025

The Cost Performance Index (CPI) is a financial efficiency metric used to measure cost performance in projects and operational activities. indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. al, negotiating better rates , or consolidating shipments. A CPI of 0.83

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

Ware2Go

MARCH 27, 2025

Inventory shrinkage happens when your merchandise gets damaged or goes missing in a warehouse or in transit. Then, we’ll get into how the right technology and the right partnerships can safeguard your business against inventory shrinkage. What Is Inventory Shrinkage? billion in losses across the fiscal year.

Inventory Reduction 52

Inventory Reduction Inventory Cost Reduction Strategies Price Reduction 52

Supply Chain Brain

JUNE 16, 2025

Strong supplier agreements and pricing structures depend on consistent leadership. When management shifts frequently, relationships with vendors and service providers become unstable, leading to potential renegotiation delays, lost bulk pricing, and inconsistent service levels. Impact on vendor relationships.

Negotiating Skills 91

Negotiating Skills Supply Chain Planning Software Pricing Training Optimal Sourcing 91

Unleashed

MARCH 9, 2021

Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis. This is often managed with the help of supplier management software or inventory management software. Accelerating value capture by leveraging digitisation, supplier management software, and spend analytics.

Procurement Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

Jaggaer

FEBRUARY 5, 2025

A successful approach requires careful assessment of supplier bids, followed by structured onboarding, continuous monitoring, and performance measurement. When assessing bids following an eAuction, the process typically involves a combination of automated tools and human decision-making, especially when evaluating factors beyond just price.

Sourcing Strategies 52

Sourcing Strategies Negotiating Skills Optimal Sourcing Price Reduction 52

Precoro

NOVEMBER 13, 2023

One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. In this article, we'll explain what PPV is, why it matters, and how tracking this metric can benefit your procurement processes. Why Is Purchase Price Variance Important?

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Precoro

MARCH 27, 2025

Negotiate better contract terms. For example, companies can negotiate a contract that reduces the per-unit price from $5 to $4.50 Achieved through strategies like bulk purchasing, supplier consolidation, and procurement process automation. Identify unnecessary spending. and achieve an immediate, lasting cost decrease.

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Expense Reduction Vendor Strategies 45

SCMDOJO

APRIL 15, 2025

Perhaps a critical supplier goes out of business, a natural disaster halts shipments, or new regulations are introduced that throw a wrench in your entire process. Operational risks: Supplier bankruptcies, poor quality control, or delays in logistics. Use analytics tools to monitor supplier performance and spot red flags early.

Vendor Strategies 73

Vendor Strategies Sourcing Strategies Price Reduction Resource Reduction 73

Precoro

JUNE 3, 2025

It aims to secure the best price for each deal but overlooks the product category as a whole. Therefore, traditional sourcing is often reactive: a procurement manager reviews a purchase request , finds a supplier, negotiates terms, and moves on. Can we consolidate suppliers or standardize specifications?

Manufacturing Procurement 45

Manufacturing Procurement Procurement Analytics Procurement Solutions Material Savings 45

Unleashed

MARCH 28, 2021

Supplier relationship management is often referred to as the B2B equivalent of customer relationship management. We’ll define this crucial management concept and explain how you can implement and improve supplier relationship management to leverage business success. What is supplier relationship management?

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Optimal Sourcing 111

Supply Chain Game Changer

JANUARY 5, 2021

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 exactly is PPV, how can it be managed, and what is the strategic value of investing time and energy in this metric?

Pricing Training 96

Pricing Training Purchasing Skills Purchasing Training Negotiating Skills 96

Precoro

JULY 16, 2023

In other words, the purchasing manager is responsible for securing inventory requirements within the company’s budget and overall efficiency of the company’s purchases. This individual also ensures that established purchasing practices align with the general company financial strategy and business objectives.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

SCMDOJO

MARCH 8, 2024

In the world of business, managing inventory efficiently can make all the difference between success and struggle. Whether you’re a small startup or a large enterprise, optimizing your inventory is crucial for staying competitive and profitable. Read more on Optimizing Inventory and Lead Time Management on our website SCMDOJO!

Inventory Reduction 98

Inventory Reduction Optimal Sourcing Cost Reduction Strategies Resource Reduction 98

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

Supply Chain Shaman

NOVEMBER 15, 2021

Inventories in the chemical industry are at record lows: a forerunner of bad days ahead. While we will recover quickly in retail (moving from painful shortages to a glut of inventory), the chemical industry–sitting four and five layers back in the supply chain–takes longer to recover. Retail shelves are increasingly empty.

Supply Chain Design Software 195

Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 195

Supply Chain Shaman

NOVEMBER 15, 2021

Inventories in the chemical industry are at record lows: a forerunner of bad days ahead. While we will recover quickly in retail (moving from painful shortages to a glut of inventory), the chemical industry–sitting four and five layers back in the supply chain–takes longer to recover. Retail shelves are increasingly empty.

Supply Chain Design Software 195

Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 195

Precoro

DECEMBER 11, 2023

The dynamic landscape of modern business comes with increasing product variety and volatile prices, making it more important than ever to stay competitive on the market. 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

Supply Chain Shaman

DECEMBER 4, 2018

For the past five years, the team at Supply Chain Insights identified Supply Chains to Admire Award Winners by analyzing performance by peer group on the key metrics of growth, operating margin, inventory turns and Return on Invested Capital (ROIC). In 2018, Rockwell Automation won the Supply Chains to Admire Award. Meet Ernest.

Supply Chain Software 34

Supply Chain Software Supply Chain Planning Software Supply Chain Design Software Manufacturing Procurement 34

Supply Chain Shaman

AUGUST 11, 2015

Procurement focus shifted from traditional programs focused on solely on contract management, price and term negotiations, and supplier scorecards to include the evolution of supplier development to manage product quality and multi-tier supplier relationships in and across value chain relationships. Things Happen.

Supply Chain Design Software 150

Supply Chain Design Software Supply Chain Planning Software Supply Chain Design Supply Chain Software 150

Supply Chain Game Changer

NOVEMBER 3, 2022

This modern approach allows manufacturers and suppliers to share real-time data about product availability, production, and sales. This information can help companies manage inventory levels and improve customer service and engagement. Supplier Relationship Management.

Supply Chain Planning Software 119

Supply Chain Planning Software Supply Chain Software Negotiate Pricing Negotiating Skills 119

QAD

MAY 22, 2025

Strategic management in this area can yield substantial savings and build stronger supplier relationships. Procurement teams should build long-term, collaborative relationships with key direct suppliers. When costs rise, companies particularly larger ones may try and pass the total cost increase onto suppliers.

Cost Reduction Strategies 52

Cost Reduction Strategies Expense Reduction Price Reduction Waste Reduction 52

o9 Solutions

APRIL 8, 2025

Procurement teams are focused on securing supplier agreements, managing costs, and mitigating risks. Planners, meanwhile, are looking ahead—adjusting to demand shifts, balancing inventories, and keeping production on track. And when coordination fails, companies end up with higher costs, supplier bottlenecks, and missed opportunities.

Supply Chain Planning Software 52

Supply Chain Planning Software Optimal Sourcing Supply Chain Planning Cost Reduction Strategies 52

Supply Chain Shaman

DECEMBER 4, 2018

For the past five years, the team at Supply Chain Insights identified Supply Chains to Admire Award Winners by analyzing performance by peer group on the key metrics of growth, operating margin, inventory turns and Return on Invested Capital (ROIC). In 2018, Rockwell Automation won the Supply Chains to Admire Award. Meet Ernest.

Supply Chain Software 30

Supply Chain Software Case Study Supply Chain Planning Software Supply Chain Design Software 30

SCMDOJO

OCTOBER 15, 2024

What is the heck behind lean productivity, profitability, and good relations with suppliers and customers? The Cash Conversion Cycle greatly impacts businesses that deal with inventories. Illustratively, the major role of the CCC is for businesses that revolve around inventories, such as retail stores, wholesalers, manufacturers, etc.

Inventory Management Software 98

Inventory Management Software Optimization Software Negotiating Skills Supply Chain Software 98

SCMDOJO

DECEMBER 11, 2023

Access to data on supplier performance, market trends, and cost analyses enables leaders to optimize procurement strategies for improved efficiency and effectiveness. Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction.

Procurement Analytics 21

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 21

SCMDOJO

MARCH 19, 2024

This might involve optimizing inventory levels, negotiating better deals with suppliers, or implementing just-in-time manufacturing techniques. These functions include procurement, production planning, inventory management, logistics, and customer service. Develop and implement strategies to optimize the supply chain.

Optimal Sourcing 98

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 98

Unleashed

OCTOBER 6, 2021

So your company is looking to reduce costs, and you’ve been asked to contribute by reducing your inventory cost. That makes sense – inventory is one of the most capital intensive areas for any product business. Here we explain how you can do this with 16 cost reduction strategies in inventory management?that

Inventory Reduction 95

Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

Precoro

MAY 13, 2025

It means a transaction or action provides the most significant benefit for a comparatively low price. Types of cost efficiency metrics Here are five main types of cost efficiency metrics: Cost per unit : Total cost divided by units produced (e.g., Key cost categories include: Direct costs : Raw materials, labor, and inventory.

Sourcing Strategies 45

Sourcing Strategies Cost Reduction Strategies Purchasing Skills Negotiating Skills 45

ShipBob

JANUARY 28, 2022

Proper inventory management can make or break ecommerce brands: Have too much stock and you’ll rack up storage costs and tie up cash flow. That’s why it’s crucial to track inventory management KPIs consistently. . What are KPIs & why are they important for your inventory management? Inventory KPIs.

Inventory Management Software 98

Inventory Management Software Inventory Management Inventory Reduction Inventory 98

Oracle SCM

AUGUST 1, 2018

Often this data is rolled up organizationally, geographically or in distribution through performance metrics or key performance indicators (targets change with these roll ups). Optimal inventory management using data from point of sale systems, in store inventory updates, in transit inventory and VMI on hand at supplier warehouses.

Supply Chain Planning Software 104

Supply Chain Planning Software Gartner Inventory Management Software Demand Planning Software 104

Supply Chain Game Changer

NOVEMBER 19, 2018

From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. Whatever your Industry you should be able to make comparisons to competitors, do benchmarking, and even compare yourself on key metrics across industries. Yet often the Supply Chain is undervalued.

Cost Reduction Strategies 95

Cost Reduction Strategies Negotiating Skills Purchasing Skills Inventory Reduction 95

Precoro

SEPTEMBER 2, 2022

Its goal is to enable acquiring high-quality goods and services from approved vendors and suppliers within a defined budget and in time. He finds and negotiates the best deals, aims to streamline workflows and eliminate unnecessary spending. Do you need to contract vendors or suppliers? Inventory Overview. Reduced risk.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Solutions Procurement Analytics Optimal Sourcing 98

SCMDOJO

APRIL 29, 2024

Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation. A well-established sourcing strategy helps businesses secure the best quality materials at the most competitive prices.

Supply Chain Planning Software 98

Supply Chain Planning Software Optimal Sourcing Supply Chain Design Software Supply Chain Software 98

Jaggaer

OCTOBER 24, 2024

Maximizing Cost Savings Through Strategic Supplier Collaboration With the growing emphasis on long-term value creation, Chief Procurement Officers are increasingly turning to supplier collaboration as a cornerstone of cost reduction. While this approach may result in short-term savings, it can be counterproductive in the long run.

Negotiating Skills 52

Negotiating Skills Cost Reduction Strategies Material Savings Negotiate Pricing 52