Why Supply Chain Managers & Procurement Should Collaborate

Cerasis

The roles of logistics and procurement in an efficient supply chain cannot be overstated. According to Paul Myerson , reports Industry Week, up 70 percent of a company’s costs come from procurement and logistics operations. Meanwhile, this large volume of expenses is directly related to 80 percent or a company’s working capital via inventory and accounts payable. So, why do supply chain managers not take advantage of this data with respect to procurement?

Is Inventory Waste or an Asset?

Supply Chain Shaman

We were discussing the results of the planning benchmarking work that we have just finished, and I was sharing some insights on inventory management when one of the panelists emphatically stated, “Inventory is a waste to manage. Inventory is both.

Procurement Interview Questions & Answers

Supply Chain Game Changer

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. Check out this list of 25 Procurement and Purchasing questions and answers. And you don’t need to purchase an expensive procurement technology suite to do so.

MACHINE LEARNING AND PROCUREMENT

Eyvo

MACHINE LEARNING AND PROCUREMENT. Importance of Machine Learning in Procurement. Procurement, on the other hand, has been famously known to increase efficiencies and time and cost savings. One of the most eminent aspects of procurement is managing supplier relationships.

Using Lean to Manage Inventory!

Supply Chain Game Changer

What is Lean Inventory Management? More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers. What is Lean Inventory Management? Attributes of Lean Inventory Management.

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MACHINE LEARNING AND PROCUREMENT

Eyvo

MACHINE LEARNING AND PROCUREMENT. Importance of Machine Learning in Procurement. Procurement, on the other hand, has been famously known to increase efficiencies and time and cost savings. One of the most eminent aspects of procurement is managing supplier relationships.

Procurement Transformation Delays – The Role of Personality!

Supply Chain Game Changer

Article provided to Supply Chain Game Changer by Katalin Brennan at Eyvo E-Procurement. We’ve all heard of the need for Procurement to embrace the Digital Transformation for many years. There are few procurement-specific personality surveys available. Subscribe Here!

Top 7 Benefits of System driven Inventory Projections

Arkieva

Scientific and system-driven Inventory Projection facilitates a quick decision-making process and enables a prompt analysis of alternative what-if scenarios. The following are the top 7 benefits of system driven inventory projection.

4 Reasons to Integrate Order-to-Cash & Procure-to-Pay

OneSCM

The ease of implementing and onboarding supply chain management solutions gives wider visibility in manufacturing, as well as orders and inventory. In some instances, sales can become risky; procurement staff maintain higher buffer stock levels as a safety net.

The Supply Chain Detective™ and the Inventory Turnover Mystery!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! As I settled into the job and started learning, and studying, the various Supply Chain metrics I was surprised when I looked at the Inventory Turnover performance of the company. The Inventory Turnover Mystery had been solved!

Procurement & Suppliers: Paying Attention to Terms & Conditions to Keep Supplier Relations Postitive

Cerasis

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". However, in many circumstances, the supplier will send an invoice that contains one set of terms, while the procurement professional will issue a purchase order which contains additional or different terms. Procurement

10 Commandments of Inventory Management

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations.

Manage Procurement Spend Like It’s Your Own Business!

Supply Chain Game Changer

Hey Procurement! Procurement. And all of this is managed by Procurement personnel. In What Exactly is Procurement? Now also consider that companies can spend as much as 75% or more of their revenue on the Procurement of goods and services. Subscribe Here!

5 Procurement Questions for Santa

Jaggaer

After pulling a few strings, we managed to catch Santa on one of his few coffee breaks at this busy time of year to fire five burning questions at the reigning world champion in procurement. To get a grip on all the orders, I use JAGGAER, a globally recognized for procurement optimization. I especially use the solutions for complex logistics: Vendor Managed Inventory, call-off, Kanban, and more. The post 5 Procurement Questions for Santa appeared first on Jaggaer.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

I find that in this world of the global multi-national that procurement processes have become convoluted and increasingly complex. (In In my opinion, we have made procurement increasingly complex without adding value.

Changing the face and pace of procurement

Requis

But very little real and lasting changes were made to make the procurement process more efficient. Sure, I adapted to meet my customers’ needs and the many changing faces of business during those times, but the actual job of a Procurement Manager largely remained the same.

MACHINE LEARNING AND PROCUREMENT

Eyvo

MACHINE LEARNING AND PROCUREMENT. Importance of Machine Learning in Procurement. Procurement, on the other hand, has been famously known to increase efficiencies and time and cost savings. One of the most eminent aspects of procurement is managing supplier relationships.

5 Ways SMEs Can Improve Inventory Turnover

Unleashed

To ensure your small business is operating efficiently, effectively managing inventory and meeting customers’ needs, you should aim to improve inventory turnover. Inventory turnover is the number of times a business sells and replaces inventory within a specified timeframe. The inventory turnover ratio is used to determine the effectiveness of inventory control and how long a business takes to sell its on-hand inventory stock. Procurement.

5 ways ERP improves inventory visibility in your supply chain

OptiProERP

Inventory visibility is one of the critical aspects of any manufacturing business. It helps organizations understand how much inventory is available, at what location , and at any given point of time. What Improved Inventory Visibility does. Inventory ties up money.

IoT Inspired Smart Warehouses Are Reinventing Inventory Management

Cerasis

The internet allows for unlimited scalability and boosted efficiency in warehouse inventory management. The so-called “smart warehouse” takes advantage of these defining factors by connecting systems to streamline inventory management and overall productivity. Integrate all supply chain systems, increasing savings in transportation management, procurement and everywhere in between.

Streamline Procurement Activities By Reducing Your Purchase Order Cycle Time

Unleashed

The most effective way to streamline procurement activities is to include a well-considered purchase order cycle as part of your purchasing processes, one that allows you to plan for expenses and budget for the costs of doing business. The purchase order life cycle is the set of steps taken to process a purchase order to procure goods for your business and it includes the following steps: 1. Business Tips procurement purchase order purchase orders

Seasoned Leadership in Action™ – An Interview with Kristie Syndikus, VP Procurement at Maple Leaf Foods!

Supply Chain Game Changer

This interview is with Kristie Syndikus, VP of Procurement at Maple Leaf Foods. It was very easy to see early on that Kristie had a great aptitude for Procurement and Sourcing. Kristie Syndikus, VP Procurement at Maple Leaf Foods. Subscribe Here! Email Address.

The Ins and Outs of SDE Analysis in Inventory Management

Unleashed

Inventory control encompasses all aspects of managing a business’ inventory stock, from purchasing, shipping, receiving, tracking, warehousing and storage, turnover, and reordering. Inventory control is such a critical function for many businesses spanning every industry. Without effective inventory control methods, the supply chain can suffer , you risk not being able to meet customer demands adequately, and your business’ bottom line will reflect this.

Procurement Trends 2019 – what’s your priority?

Eyvo

There is no shortage of predictions from procurement experts and companies. Anyone can purchase products and services so procurement, as a department, has the challenge of showing value in every aspect of their existence. The post Procurement Trends 2019 – what’s your priority?

Three Simple Analyses To Identify Risky Inventory In Your Supply Chain

Arkieva

If you are running a manufacturing or distribution business, you have to deal with inventory. In supply chains, inventory acts as a shock absorber just like the ones in your car. So, not all inventory is bad. Now, add up all the inventory on items that fall in the A category.

Logistics & SCM, PLM, Manufacturing, and Procurement 2016

Supply Chain Movement

Logistics & SCM, PLM, Manufacturing, and Procurement 2016. URL: sapinsiderevents.wispubs.com/2016/Vienna/SCM-PLM-MFG-Procurement-CRM/. Logistics & SCM, PLM, Manufacturing, and Procurement 2016, sponsored by SAP, is the most important educational event of the year for organizations using SCM, PLM, manufacturing, and procurement solutions to fortify their business operations and infrastructure with proven methodologies and measurable, value-driven results.

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The State of Supply Chain Trends Part II: AI, Procurement, & the New Lean

Cerasis

From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. Consequently, all processes, including inventory management, logistics, data analytics and ongoing performance management, as reiterated by the staff of Supply Chain 24/7, improvement, can be optimized, creating a more efficient, direct and intelligent supply chain network. Procurement’s Role Did Become More Important.

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4 Ways To Improve Procurement For Increased Customer Satisfaction

Slimstock

Though it’s often overlooked as an element of customer satisfaction, procurement is an essential component for delivering that satisfaction. Procurement involves buying goods and services that keep an organization operating; it ensures warehouses are well-stocked with the proper supplies at all times. Procurement can be responsible for up to 70 percent of a company’s revenue , so small changes in procurement functions can have a major impact on profitability.

Inventory Turnover – A Formula For Achieving Game Changing Results!

Supply Chain Game Changer

As we have discussed in other blog posts we have tackled Inventory Turnover several times, amongst many other challenges. Your challenge may be trying to improve Inventory performance or trying to create a transformational improvement in some other area. Subscribe Here!

Warehouse Cost Reductions: 3 Understandings Driven By Inventory Management & Lean Principles

Cerasis

Today, I will now address how a focus on inventory will allow for warehouse cost reductions as well. A Focus on Inventory Control Begets Warehouse Cost Reductions. First, look at inventory as MONEY/CASH. Inventory cost is defined as the cost of holding goods in stock.

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Do You Want Inventory Turnover Breakthrough? Define and Manage The Levers!

Supply Chain Game Changer

Check out World Class Inventory Turnover Breakthrough Elements! Taking a holistic approach in order to achieve Inventory Turnover Breakthrough results meant that I needed to consider the End To End Supply Chain. Thus we would be able to make a rapid dent in our Inventory levels.

Central Procurement Hub

Bristlecone

A centralized system to provide control and visibility into overall procurement operations . Maintaining inventory is expensive. Inventory and inventory-related costs are often the single greatest expense a company faces.

The Procurement Economy in 2019: Bracing Yourself for the Future

Jaggaer

As we’ve explored in our last two blog posts, economists are predicting a decline in global economic growth due to policy and trade issues both in the United States and the European Union , bringing an increased risk to supply chains and procurement organizations. This also required creating a flexible supply chain by creating preferred responses to possible changes, as well as realigning inventory in order to free up cash. Procurement Resources

10 Inventory Management Hacks You Can Do in 10 Days

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations.

INTEGRATED PROCUREMENT – A NEW WAY TO PROCURE

Eyvo

Every company has similar procurement processes that start by identifying the items required for their operational purposes, creating requisitions, issuing orders to the suppliers, receiving the goods and making the payments. Accounts without procurement. Integrated Procurement.

It’s Time to Revisit Vendor Managed Inventory

synchrono

A few decades ago, Vendor Managed Inventory (VMI) was a hot topic. Many manufacturers saw it as a way to reduce inventory levels and costs. As materials are received into inventory, they are scanned into the system – and, they are scanned again when consumed.

5 steps for Procurement to impact on financial results

Claritum

Claritum Article - Procurement Blog. Address Procurement Strategy. Focus Procurement on supplier optimisation. Don’t lose Procurement’s focus on costs. Keep Procurement up to date. It is procurement at the heart of any impact on P&L.