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What Are the Differences Between Procurement and Purchasing in Manufacturing?

OptiProERP

Acquiring goods from vendors and suppliers is one of the critical and routine tasks for manufacturers. Managing, planning, and tracking finance is very important when it comes to the outflow of cash. Procurement and purchasing are terms interchangeably used in manufacturing but are distinct activities.

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The One Key Shift in Your Supply Chain and Procurement Strategies that can Drive Better Business Continuity and Resilience

Logistics Viewpoints

Procurement and Supply Chain Management are essential functions that can help companies navigate these challenges, but they are often siloed and operate in separate departments. The purchasing of products at companies can be looked at in terms of two major dimensions: supply risk and impact on production (Figure 1).

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5 Models of AI for Supply Chain Risk Management—And Why They Matter

Resilinc

Welcome to part three of our AI in Supply Chain blog series. In this blog, we explore the different types of predictive AI models for supply chain risk management. In this blog, we explore the models used in Resilinc’s predictive AI and explain how they help streamline supply chain risk management.

Modeling 107
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Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience

ivalua

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. Why is visibility so important?

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In the Middle East, the Need for Risk Management Guides the Transformation Journey to Procurement 4.0

ivalua

Risk management, cost reduction and digital transformation — these are the three top priorities for procurement organisations in the Middle East today, according to a global survey conducted by Ivalua’s global partner PwC. Strategic Investments Target Risk Reduction. What was the impact of Covid-19 on digitization?

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The Top 5 Skills Every Procurement Manager Needs

Precoro

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?

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BD Achieves End-to-End Supply Chain Visibility

Logistics Viewpoints

Ever since COVID hit, supply chain executives have embraced supply chain risk management. Within this discipline, one of the toughest challenges is how to get visibility to problems arising across the extended supply network. Supply Chain Chaos is the New Norm. Chasing N-Tier Visibility.