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Spend Management Takeaways SAP continues to invest in using generative AI to improve the user experience. Their copilot-style solution is known as Joule. While SAP has had procurement analytics solutions, last year at Spend Connect Live, SAP announced the Spend Control Tower. It is a brilliant tool.”
Today’s procurement leaders operate in an environment where complexity and risk are the norm. Direct procurement is where these trade-offs play out in real time. Direct procurement shapes production resilience and supplier relationships. It’s not enough to keep the production line moving either.
Procurement and supply chain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
Indirect procurement sometimes flies under the radar, but its impact on cost, compliance, and efficiency can be significant. For many enterprise teams, managing indirect spend feels like a reactive process that’s out of sync with business goals. What Is Indirect Procurement? Let’s look at some of the most measurable benefits.
Strategic sourcing and innovative solutions are often viewed as two distinct procurementtools, but they should not be seen in isolation. Think of them as apples and gearseach essential and effective on its own, yet when combined; they create a formidable mechanism for achieving procurement excellence.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manageprocurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manageprocurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
Interestingly, while demand for SCP applications has slowed, the investments made by leading SCP suppliers show that they are determined to make their planning platforms capable of supporting greater agility. The One Network platform connects over 150,000 organizations, including over 49,000 suppliers and 20,000 carriers.
If you’re evaluating procurement technology or exploring ways to drive more value from existing systems, chances are you’re looking beyond tactical fixes – you want a smarter, scalable strategy. Misaligned priorities across finance, legal, and procurement create friction that delays decision-making and reduces impact.
Introduction Gardner, (1954) and Huntzinger, (2007) define Purchase price variance (PPV) as a metric used to measure the effectiveness of cost-saving efforts by calculating the difference between the planned cost (standard pricing) allocated for purchasing activities and the actual cost incurred.
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
They integrate finance, HR, sales, and supply chain management into one complex platform. Within this setup, an ERP procurement module helps companies make purchases and managesuppliers. Keep reading to learn: What Is ERP in Procurement? Frequently Asked Questions What Is ERP in Procurement?
Companies often push aside procurement compliance to focus on more pressing issues. No wonder—procurement often gets tedious and burdened with time-consuming processes. However, ignoring procurement compliance is like ignoring a ticking time bomb. Scroll down to find out: What is procurement compliance?
Therefore, optimizing spare parts management is crucial for the success of supply chain, manufacturing, and maintenance operations. In this blog, let’s dive deeper into the challenges of spare parts management, the solution that ThroughPut AI provides, the features of spare parts managementsoftware and how it works.
How AI is Transforming Manufacturing: Strategies, Benefits, and Use Cases Artificial Intelligence (AI) is a huge topic and one that is constantly changing as research and development efforts push out the boundaries of whats possibleand whats already happening! Manufacturers now generate and own vast volumes of it.
Definition: Category management is a systematic way to organize and supervise groups of products or services within a company. Businesses often use it in retail and purchasing. In category management, you sort items with similar characteristics and treat each group as a separate unit.
CAGR , the global supply chain managementsoftware market is expected to touch USD 50 billion by 2032. This one figure speaks volumes about how organizations worldwide want access to the best supply chain managementtools to boost efficiency and value in their distribution and logistics network. The real challenge?
Insights from a Former ProcurementManager People often ask me why I left FORVIA, a French global automotive supplier, to join QAD. In todays fast-paced business environment, digitalization has become a cornerstone of operational success, particularly in the realm of purchasing.
Billion Acquisition of e2open Australia based logistics software provider WiseTech, developer of logistics execution software CargoWise , announced an agreement to acquire U.S. This provider’s technology provides predictive, continuous, and multi-domain real time supplier risk assessment along with advanced analytics.
To stay ahead of the curve, industry leaders are turning to data-driven strategies and artificial intelligence (AI) to transform how they manage inventory, forecast demand, and optimize the entire spare parts lifecycle. They are also responsible for data integrity, vendor management, and aligning with enterprise sustainability initiatives.
Today, there are few efficiencies to wring out of the four walls of manufacturing plants, but massive white space opportunities in the daily activities that supply chain planners, buyers, and contract officers undertake. This is where the opportunities lie ahead. The latter two have been around for many years. Should We ?
This is compounded by the fact that many raw materials are sourced from a limited number of suppliers and regions. Beyond the well-documented API sourcing problems, shortages in excipients, packaging materials (including vials and syringes), and electronic components for medical devices also contribute to delays.
To stay ahead of the curve, industry leaders are turning to data-driven strategies and artificial intelligence (AI) to transform how they manage inventory, forecast demand, and optimize the entire spare parts lifecycle. They are also responsible for data integrity, vendor management, and aligning with enterprise sustainability initiatives.
In this survival guide, we’ll discuss key strategies for inventory planning , shipping , and other solutions to help you navigate the intense demands of Black Friday and Cyber Monday. Strategic Inventory Planning One of the most important elements in preparing for Black Friday and Cyber Monday is accurate inventory forecasting.
49% That was the ownership share of product returns specialist Inmar Post-PurchaseSolutions (IPPS), a joint venture between Doddle—a part of Blue Yonder—and Inmar, Inc. That until this week, when Doodle announced it has acquired the remaining 51%.
Updated: May 30, 2025 Published: September 15, 2021 Supply chain management plays an important role in the overall success of a business, especially for the manufacturing industry. As manufacturers expand, supply chain management can become an even more essential component of a smart business plan.
Business logistics is a crucial component of operational strategy and efficiency in the supply chain, involving comprehensive processes to manage the movement of goods from sourcing materials to delivering products. Suppliermanagement, materials planning and transportation coordination all come under the procurement umbrella.
This past week, FourKites announced its new Intelligent Control Tower solution, featuring real-time data, digital twin capabilities, and an AI-powered digital workforce. Additionally, some Dunkin’ locations are facing doughnut shortages due to supplier disruptions. Meanwhile, supply chain and logistics news continue to unfold.
If your procurement team is juggling multiple ERP systems, you’re likely spending more time chasing data than driving strategy. Disconnected supplier records, inconsistent processes, and limited visibility can impair efficiency and open the door to shadow spend.
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.
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.
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.
With the global market expansion and deepening supply chain complexity, the roles of procurement leaders have evolved from tactical to strategic. Nowadays, procurement departments not only focus on the day-to-day buying operations but also search for the most efficient ways to go about them. How often do purchases happen?
Procurement, also sometimes known as purchasing, is the group responsible for acquiring components, services, and other materials to manufacture a company’s products and to keep the operation running. But corporate procurement isn’t quite as simple as placing an order on Amazon or another web marketplace.
What we learned about agility and resilience can be applied to future-proof the source-to-pay (S2P) process and help organizations meet any new challenge with confidence. The job of sourcing professionals is to understand the risk in the supply chain and manage it so they can react quickly when a problem occurs.”
As supply chain disruptions continue the procurement function should adapt to improve transparency, build collaborative relationships, and ensure sustainable sourcing practices, resulting in a stronger, more resilient supply chain with Cloud ERP for manufacturing. Strategic sourcing with Cloud ERP.
At the same time, two-thirds (66%) of businesses admitted they were still reliant on such processes as part of their Procurement or suppliermanagement function. The research, conducted by Vanson Bourne on behalf of Ivalua, found that 71% of respondents believed the rate of digitisation in Procurement is low.
Doug Keeley, Product Marketing Manager, Ivalua. The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is suppliermanagement. Direct spend suppliers, on the other hand, must deliver a different level of ROI. Healthcare.
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?
The goal, from a manufacturing perspective, is clear: learn how to do more with less as efficiently as possible while maintaining profitability and complying with due diligence legislation. In a recent BearingPoint survey, a whopping 85% of companies attribute their move to sustainable procurement practices to government regulations.
If you’re eyeing a role as a ProcurementManager (or are looking to hire one), you’re in the right place! As a procurementManager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.
The chief procurement officer (CPO) is a senior executive responsible for developing and implementing their organization’s procurement policies, procedures, and strategies. Making sure these purchases are of high quality and compliant with relevant laws and regulations also falls under the CPO’s responsibilities.
For some businesses – usually smaller or with a single-sourcepurchasing flow – it may be sustainable to react to the immediate needs. However, growing organizations that face increasing complexity recognize the value of thoughtfully-planned and managedprocurement.
Category management is a procurement strategy that involves grouping similar products or services together into categories and managing them as a single unit. This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money.
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