Procurement Academy

APRIL 24, 2025

It sends shockwaves through sourcing, supplier relationships, profitability, and operational decision-making. A global manufacturer recently told us: We avoided a six-figure tariff penalty because our team understood classification and acted quickly. Sourcing strategies collapsed because no one planned for this.

Price Mitigation Strategies 82

Price Mitigation Strategies Cost Reduction Strategies Sourcing Strategies Buyer Training 82

Precoro

JUNE 3, 2025

Businesses often use it in retail and purchasing. Category management isn’t just another procurement trend. It’s a way for companies to group similar goods or services (like IT infrastructure, facilities, or raw materials) and manage them holistically instead of handling every purchase in isolation.

Manufacturing Procurement 45

Manufacturing Procurement Procurement Analytics Procurement Solutions Material Savings 45

Jaggaer

FEBRUARY 5, 2025

The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items.

Sourcing Strategies 52

Sourcing Strategies Optimal Sourcing Manufacturing Procurement Negotiating Skills 52

QAD

JANUARY 16, 2025

Despite its success, KION faced significant challenges in managing its extensive supplier network and procurement processes. For the mitigation of supply chain and business risks , we need closer integration and easy collaboration with our suppliers, said Jens Brethauer, VP of e-Procurement & Digitalization at KION.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Negotiating Skills 52

SCMDOJO

FEBRUARY 16, 2025

The Role of Agentic AI in Supply Chains Supply chains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting. Analyzes supplier performance, market trends, and contract terms. Enhances AI-driven supply chain resilience.

Optimal Sourcing 72

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Sourcing Strategies 72

SCMDOJO

DECEMBER 14, 2023

In the global world of businesses, companies often seek help from sourcing agencies to figure out how to get the things they need. But what’s a sourcing agency or sourcing agent and how does it make buying things easier? Let’s explore this world of sourcing agencies and understand what they do.

Purchasing Skills 104

Purchasing Skills Optimal Sourcing Negotiating Skills Sourcing Strategies 104

SCMDOJO

APRIL 20, 2023

If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, 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.

Negotiating Skills 116

Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 116

MIT Supply Chain

JUNE 13, 2013

A new tool enables procurers to negotiate product prices without bargaining away supplier goodwill. When bargaining with suppliers over a product price, how can procurement professionals secure the best deal without damaging a valued relationship by being overly aggressive? Fair deal. Allocate NAICS Codes.

Negotiate Pricing 78

Negotiate Pricing Negotiating Skills Purchasing Skills Manufacturing Procurement 78

Precoro

JULY 8, 2022

One should keep in mind that every transaction has an additional hidden cost in labor and overheads, such as the time spent sourcing products, tracking deliveries, matching invoices, and overseeing suppliers. In the article, we look critically at the role of the purchasing manager and discuss how to determine the value of hiring one.

Purchasing Skills 98

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 98

Precoro

MARCH 27, 2025

According to McKinsey & Company, procurement accounts for 50% to 80% of a company’s cost base. That’s why organizations zero in on strategies to achieve procurement cost reduction.    The key thing to remember is that cost reduction in procurement isn’t just about slashing expenses.

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Expense Reduction Vendor Strategies 45

SCMDOJO

SEPTEMBER 18, 2023

Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. So, get ready to elevate your communication skills and gain a deeper understanding of the procurement domain.

Negotiating Skills 105

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 105

SCMDOJO

FEBRUARY 26, 2025

While CPI is normally used within project management and earned value analysis, it has significant application and importance within supply chain contexts, particularly in procurement, logistics and warehousing. Example: If a company planned to procure materials worth $100,000 but ended up spending $120,000. A CPI of 0.83

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started? Do not worry!

Purchasing Training 98

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 98

QAD

JANUARY 19, 2023

E-commerce brands must oversee design, manufacturing, sourcing, warehouse inventory, shipping and delivery. Supply chain management is typically broken into three large buckets of intricate processes and roles: Concept: the full cycle, from sourcing and procurement to fulfillment. What is Supply Chain Management?

Supply Chain Planning Software 98

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

Exiger Perspectives

OCTOBER 31, 2024

Brandon Daniels: One of the things that generative AI is doing is it’s making it so procurement and supply chain people are able to bridge a skills gap. Do we have products that are alternatives to that supplier that we can utilize? Arjun Mehta: How is AI impacting supply chain risk management?

Supply Chain Risk Management 52

Supply Chain Risk Management Supply Chain Planning Software Risk Management Supply Chain Software 52

ShipBob

DECEMBER 28, 2022

Where you get these from, or how you source them, can be a huge decision. Sourcing can seem overwhelming if you’re a brand or retail buyer not entirely sure what you’re doing, but it can significantly impact the quality, cost, and availability of your products. What is strategic sourcing? What is procurement?

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

SCMDOJO

JANUARY 17, 2024

A myriad of professionals within the field ensures timely deliveries from suppliers and orchestrates manufacturing processes to meet your requirements, contributing to a rewarding career path in supply chain management. They are in charge of purchasing, procurement, and sourcing.

Purchasing Skills 98

Purchasing Skills Negotiating Skills Optimal Sourcing Manufacturing Procurement 98

Unleashed

JUNE 8, 2023

Behind every successful product business is a thoughtful procurement strategy designed to optimise the supplier management and purchasing process. This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

Unleashed

JANUARY 4, 2024

Product sourcing, done the right way, can set your business up with the foundations needed for achieving maximum sales. This guide will explain how product sourcing works in modern business, best practices for finding suppliers, and list some of the most popular websites and tools for sourcing goods to sell.

Purchasing Skills 52

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 52

SCMDOJO

MARCH 19, 2024

While Its primary purpose is to manage the entire process, from procurement to delivery, efficiently and cost-effectively, it also coordinates with production to automate processes and planning, etc. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel! Why do you need a structured Supply Chain Department?

Optimal Sourcing 98

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 98

Unleashed

MARCH 21, 2021

The procure to pay process is complex and far more than simply making a phone call, or sending a few emails to arrange the purchase of goods. Strategically approaching the procure to pay process can see your company reap the rewards. In this guide, we’ll cover: What is the procure to pay process. Negotiating.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. It involves sourcing, negotiation, ordering, delivery, and payment for goods or services. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Unleashed

NOVEMBER 28, 2022

Inventory replenishment is the process of purchasing the goods, components, and raw materials needed to build and sell products. It ensures products and materials are procured and delivered to the warehouse in a cost-effective, timely way. This means: Researching and comparing various suppliers. Reducing overall freight costs.

Inventory Reduction 98

Inventory Reduction Material Savings Cost Reduction Strategies Resource Reduction 98

SCMDOJO

APRIL 29, 2024

From sourcing raw materials, manufacturing, and storage, to transportation and distribution, SCM ensures efficiency and cost-effectiveness throughout the entire journey. Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships.

Supply Chain Planning Software 98

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

Unleashed

SEPTEMBER 20, 2023

A business’s MOQ for each product is typically determined through analysis of profit margins, operational efficiencies, and manufacturing requirements. This could be when a supplier or manufacturer needs a high number of a particular item, or when it’s more cost-effective to produce that unit in bigger numbers.

Manufacturing Procurement 52

Manufacturing Procurement Negotiating Skills Optimal Sourcing Purchasing Skills 52

KEPLER Consulting

MARCH 23, 2018

The purpose of this article is to share our experience in the use of machine learning to generate quick saving opportunities and homogenize purchased pricing across business units / regions in large groups. Utilize benchmarking to identify gaps across BU/Regions and optimized sourcing strategies. asking to your supplier).

Negotiating Skills 64

Negotiating Skills Purchasing Skills Negotiate Pricing Material Savings 64

Unleashed

AUGUST 28, 2023

The cost of sales metric is most commonly used in the retail and eCommerce industries, whereas manufacturing businesses typically calculate profitability using the cost of goods sold formula instead. For example, you could still manufacture your products if you stopped paying for marketing activities.

Purchasing Skills 52

Purchasing Skills Negotiating Skills Cost Reduction Strategies Examples 52

HICX Solutions

JUNE 9, 2025

By providing detailed insights, AI will enable companies to develop stronger, mutually beneficial supplier relationships. How is AI transforming procurement & supply chains? AI is transforming procurement and supply chains by shifting operations from reactive, manual processes to proactive, intelligent systems.

Optimal Sourcing 40

Optimal Sourcing Negotiate Pricing Negotiating Skills Supplier Management 40

Unleashed

FEBRUARY 12, 2024

This includes the cost of capital used to purchase inventory, which could have been invested elsewhere for potential returns. Additionally, they may involve the interest expense on loans or lines of credit used to finance inventory purchases. Capital costs Capital costs represent the opportunity cost of the funds tied up in inventory.

Inventory Reduction 52

Inventory Reduction Purchasing Skills Cost Reduction Strategies Negotiating Skills 52

Infosys Supply Chain Management

SEPTEMBER 22, 2011

Industrial Manufacturing. Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. On the other hand manufacturers get plagued by obsolescence and inventory costs impacting margins. Automotive. Communication Services. Consumer Packaged Goods.

Supply Chain Planning Software 27

Supply Chain Planning Software Supply Chain Design Software Manufacturing Procurement Supply Chain Software 27

KEPLER Consulting

NOVEMBER 20, 2017

To reduce Supply Chain costs, once the traditional levers have been activated (supplier negotiations, transport schemes optimization, inventory reduction, etc.), manufacturers have decided to go further by progressing on the notion of total cost. However small lots have a double negative effect.

Optimal Sourcing 40

Optimal Sourcing Modeling Supply Chain Optimization Cost Reduction Strategies 40

Procurement Academy

MARCH 12, 2024

Calculating the Cost Breakdown: This process involves working with cost, finance, logistics and manufacturing process experts. Together with published data sources and specialist reports, they’ll discover how to master the art of disassembling products into components to calculate each of the key cost areas.

Optimal Sourcing 69

Optimal Sourcing Negotiating Skills Purchasing Skills Buyer Training 69

6 River Systems

JANUARY 10, 2019

Keep in touch with cross-functional colleagues. “Whether you’re in procurement, supplier quality, production control or logistics, supply chain is only one ingredient in the pie of successfully bringing a product to market. Are products being manufactured to job specifications? Can we see the purchase order confirmation?

Optimal Sourcing 61

Optimal Sourcing Negotiating Skills Negotiate Pricing Pricing Training 61

Precoro

NOVEMBER 25, 2024

Let’s be honest: managing procurement can feel like a juggling act — with pending requisitions, undelivered purchase orders, unpaid invoices, budget tracking, and stock transfers all in the mix. That’s where procurement reporting dashboards come in and let procurement managers see what’s really going on.

Procurement Analytics 105

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 105

Precoro

FEBRUARY 28, 2025

By bringing procurement and project management under one umbrella, businesses can streamline operations, speed delivery, and drive growth that lasts. This guide explores the benefits of project procurement management and outlines key steps for creating a Project Procurement Management Plan (PPMP) that drives business growth and innovation.

Procurement Analytics 45

Procurement Analytics Procurement Solutions Optimal Sourcing Manufacturing Procurement 45