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Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game. How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy.

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Procurement Rising: The Silent Inflation Tax on Manufacturers

ivalua

Ivalua Spend Management Insights [ivory-search] Procurement Rising: The Silent Inflation Tax on Manufacturers February 27, 2023 | | Manufacturing by Doug Keeley Last year, the Consumer Price Index was the highest it has been in four decades, making inflation one of the most concerning macroeconomic factors facing the business world today.

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What is Lean Retail (+ Why Retailers Must Embrace It)

ToolsGroup

Whereas retailers once purchased merchandise largely based on the gut instinct of trend-savvy buyers and the push of whatever manufacturers tried to sell them, nowadays, they need to take a much more customer-focused and data-centered approach. What is Lean Retail? The impact of lean retail on supply chain management.

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Lean Logistics: Improving Efficiency in the Supply Chain

Unleashed

Lean logistics is a strategy designed to optimise supply chain efficiency by cutting out waste and maximising customer value. In this guide to lean logistics: What is lean logistics? This approach to supply chain management is a child of Lean Thinking – a business methodology that originated in Japan in the late 1980s.

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Is It a Good Idea to Invest in Hiring a Purchasing Manager?

Precoro

The question arises: when to separate purchasing management tasks into an autonomous operational role and hire a designated professional? There is no universal answer to this question, as purchasing process, procurement policies, goals, and volumes differ not only in the industries but even from company to company.

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Cost Centers: How to Understand and Optimize Them

Precoro

For procurement professionals, systemizing and optimizing cost centers is not just a matter of financial management; it's a strategic task for driving efficiency, controlling costs, and enhancing overall performance. In this article, we delve into the intricacies of cost centers and explore strategies for improvement.

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

GlobalTranz

From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. Agile = The New Lean. Another key player in the 2016 state of supply chain report was the move away from rigid, lean processes to agile methodologies. Artificial Intelligence.