Why Procure-to-Pay Software is Critical Today

ivalua

This month Gartner published its eagerly awaited Magic Quadrant for Procure-to-Pay (P2P) Suites , ranking the top 14 vendors based on ability to execute and completeness of vision. 1.Investing in Procure-to-Pay solutions is seeing the bigger picture. Procure to Pay Uncategorized

Establishing Procurement as a Competitive Advantage

ivalua

In my previous posts, I looked at how to successfully launch a digital transformation and progress to best-in-class Procurement. Procurement was tasked with supporting a board level initiative to accelerate innovation and increase margins. Leaders need to be more ambitious if they are to truly establish Procurement as a source of strategic value. The same applies to Procurement. The post Establishing Procurement as a Competitive Advantage appeared first on Ivalua.

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A Humble 2020 Procurement Resolution – Transform the World 

ivalua

For Procurement leaders, that typically translates into saving a few percent here. They are usually measurable, readily acknowledged as achievable, and perhaps most significantly, we know what we have to do to meet them. For Procurement leaders today, those missed opportunities can be great. But for the most part, Procurement objectives remain too incremental rather than transformative. . So how can Procurement leaders drive such change?

Why Agility and Creativity are the New Vital Procurement Drivers  (but don’t sacrifice “effectiveness”)

ivalua

Peter Smith, Managing Director at Procurement Excellence Ltd. If Procurement people, functions and organisations are going to be successful, it is obvious that we have to adapt to the changing wider business and social environments. Whilst we might question why there aren’t more CPOs on the Board and so on, there are far more Procurement professionals than 50 years ago, and the profession is much better recognised and established.

SCRC Meeting: Closing the Gap Between Marketing and Procurement

NC State SCRC

Our upcoming SCRC meeting on April 25 will explore a topic that has been top of mind for me and several other people for some time. To give you a clue as to what this is about, consider the typical sessions you see at, for instance, the ISM meeting, that I plan on attending this year. ” This session captures the essence of what I believe is wrong with procurement’s relationship with sales.

7 Ways to Strategically Elevate Freight Procurement

Talking Logistics

In the last decade, many companies, especially those with manufacturing operations, have evolved direct materials sourcing from an administrative function to a strategic procurement process. The embodiment of this transformation is the chief procurement officer, an increasingly common title for executives that strategically source goods and services. As a strategic process, transportation procurement may still seem very tedious and challenging.

Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. But there is a profoundly significant Procurement value chain. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Procurement is strategic! Now is the time for Procurement to SELL!

Stepping Forward to Meet Opportunity

Supply Chain Nation

Members represent all supply chain and procurement functions and span multiple industries across 30 different countries, bringing a rich diversity of experience, thinking and ambition. I’ve had incredible opportunities to be part of some fantastic initiatives, to meet and work with some outstanding people, and travel to places I wouldn’t have otherwise been to. Life is what you make it and I’m a firm believer that we need to step forward to meet opportunity.

John Cockerill selects Ivalua spend management to digitize all procurement processes and cover all spend in one single system

ivalua

As a developer of technological solutions to meet the constantly evolving needs of our customers, we need technology that can not just deliver rapid value, but also support our business over time” said Marc Szafranski, VP Supply Chain at John Cockerill.

System 158

Methods for Managing Procurement Risks

EC Sourcing Group

Methods for Managing Procurement Risks. There is always some level of risk when it comes to contract management in procurement. There are many risks in all stages of the supply chain, of which procurement is only a portion. Identifying these risks before they become a problem can help you seamlessly work your way through the procurement process more safely. What Is Contract Management in Procurement? . M ethods for Managing Procurement Risks: Evaluating Risk.

When is it Time to Invest in Procurement Technology?

Jaggaer

Or it may be an executive mandate driven by a leadership change or the arrival of an individual who understands the earnings contributions or growth that a well-run procurement organization can deliver to an enterprise. No Time Like the Present for Procurement Technology.

How Procurement can help to drive Supplier-led innovation

ivalua

A business’s ability to develop and launch new products that meet customer expectations quickly and profitably is critical to overall success. Procurement is essential for organisations looking to build relationships. To overcome these challenges, organisations need to invest in supplier collaboration and take a smarter approach to procurement so they can better-identify opportunities to collaborate. Procurement must refocus to foster, rather than block innovation.

Procurement: With Great Power Comes Great Responsibility!

Supply Chain Game Changer

Hey Procurement! ” Procurement organizations can have the power to spend and control as much as 75-80% of a company’s revenue. Less enlightened organizations still think of Procurement as a back office function processing transactional purchase orders and standard contracts. But better informed and leading organizations see and recognize Procurement for its strategic value. What actually is the power that is within Procurement’s mandate?

The Hitchhiker’s Guide to Digital Procurement!

Supply Chain Game Changer

Digital Procurement article, and permission to publish here, provided by Sam Jenks at kodiakrating.com. Navigating the complexity of the global supply chain as a procurement professional can sometimes feel like taking a walk through the Amazon without a compass, or entering into outer space without an oxygen tank. It’s important that procurement teams take into account the new risk reality and challenges that face them, their organizations and their value chains.

Challenges Facing Procurement Leaders

Material Handling and Logistics

From limited visibility beyond their tier-one suppliers to teams that don't have the capabilities to deliver on the strategy, procurement officers have their work cut out for them. A clear vision is a necessity to manage a global supply chain, yet 65% of chief procurement officers report having limited visibility beyond their tier-one suppliers, according to a new survey from Deloitte. There’s no doubt that digital is a game-changer in procurement," said Michael Daher, U.S.

7 Tips: A Guide to Mastering Procurement

Material Handling and Logistics

With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing. However, it is fundamental to empowering procurement success in the modern age. Procurement helps companies adapt, meet new regulatory requirements and shift supply to optimize an evolving tariff landscape.

Becoming a Valued Busienss Partner: Procurement Analytics SCRC Meeting Insights

NC State SCRC

The December 2015 SCRC meeting was held this week in the brand spanking new Talley Student Center, and was a resounding success. After highlighting some of the results from the IBM study I worked on this past fall on procurement analytics, I introduced Rich Hughes, former Chief Procurement Officer from Procter & Gamble. In streamlining the P2P system, Rick notes that he had to take someone from procurement to go work in AP in finance to fix it.

Ivalua NOW Virtual Event to Showcase the Role of Procurement In Meeting Today’s Business Challenges

ivalua

Premier event for procurement & supply chain practitioners will showcase latest technological innovations and extensive line-up of industry leaders. The event will feature presentations from the most innovative procurement and supply chain leaders on how they are accelerating their digital transformation journeys, and meeting today’s business challenges.

Ivalua NOW Virtual Event to Showcase the Role of Procurement In Meeting Today’s Business Challenges

ivalua

Premier event for procurement & supply chain practitioners will showcase latest technological innovations and extensive line-up of industry leaders. The event will feature presentations from the most innovative procurement and supply chain leaders on how they are accelerating their digital transformation journeys, and meeting today’s business challenges.

What Are the Goals of Procurement Management?

EC Sourcing Group

What Are the Goals of Procurement Management? The goals of procurement management are generally to acquire goods and services with the highest quality at the lowest cost to create an end product. Globally, most purchasing departments have moved on from a paper trail and have decided to make their procurement processes digital, which means that they now must be able to navigate E-procurement software and eSourcing software with some intermediate ability.

10 Tips Shippers Can Use to Reduce Costs in LTL Procurement with Better Request for Pricing Bidding

Cerasis

at Cerasis, we know a thing or two about the nuances of LTL procurement. LTL procurement is something we do very well. So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. 10 LTL Procurement Cost Cutting Tips. Saving money on less-than-truckload or LTL procurement is a laudable goal, except when operational problems eclipse savings gains. Logistics LTL ltl procurement

A Procurement Resolution – Realize Your True Potential

ivalua

For Procurement leaders in particular there couldn’t be a better time to do so. A recent study by the Hackett Group found that only 63% of Procurement organizations have even developed a plan for digital transformation. 33% bluntly stated their service does not meet customer expectations. My recommendation is to set an aspirational resolution that reflects Procurement’s true potential. Alex Saric, Chief Marketing Officer, Ivalua.

Procurement Logistics: What Is It & Where Do Logistics Providers Fit In?

Cerasis

Many different terms, such as less-than-truckload (LTL), procurement and transportation management, describe supply chain management processes. Although procurement logistics might sound like it involves the purchasing of manufactured products , it is much more involved. The Definition of Procurement Logistics. The simplest way to think of procurement logistics is the procurement of materials needed to manufacture products. What Is Procurement Management?

Procurement and the Need for Speed

ivalua

In my last two articles ( here and here ) I’ve been talking about the need for Procurement to think about how we can move beyond our historical transactional role and embrace approaches to help drive competitive advantage and real value for our organisations. So, what should “speed” mean for Procurement leaders, and why is it so important for us today, as well as for Ferrari and McLaren? . Author: Peter Smith , Managing Director at Procurement Excellence Ltd.

50th Symposium Procurement and Logistics

Supply Chain Movement

50 th Symposium Procurement and Logistics. This year we are celebrating two important anniversaries: for 50 years the symposium has been THE meeting place for buyers, logistics experts and Supply Chain Managers for exchanging information about current trends in their fields and networking with colleagues. Register today and travel to Germany‘s capital to THE meeting place for specialists and managers from purchasing, Supply Chain Management and logistics.

Optimizing Retail Supply Chains to Meet Demand and Reduce Costs

CH Robinson Transportfolio

It’s no secret that retail supply chains can be particularly complex; trying to continuously meet changing consumer demands while also driving growth can result in missed opportunities to manage cost and drive efficiency. Change your thinking on retail procurement. Robinson’s supply chain and procurement solutions, connect with an expert today. The post Optimizing Retail Supply Chains to Meet Demand and Reduce Costs appeared first on Transportfolio.

Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Procurement is strategic! Now is the time for Procurement to SELL! The Procurement Value Chain Continuum. Procurement 101.

Why Agile Procurement is Essential for CPOs in 2020

Jaggaer

His insights are numerous, and can all be heard in his full podcast episode, but among them is his main focus in 2020, the opportunity presented by agile procurement. Bartolini’s view of modern procurement is one of an industry at a crossroads. But for top CPOs , this demand is becoming harder and harder to meet. While digitalization has dramatically increased procurement performance over the last decade, the function is beginning to approach a plateau. “We’re

Inefficient Procurement processes are costing UK businesses almost £2m per year, reveals research

ivalua

29 th August 2019, London – Research from Ivalua , a leading provider of global spend management cloud solutions , has shown that Procurement, supply chain and finance professionals are spending almost a third (31%) of their time dealing with inefficient paper-based or manual Procurement processes, which is costing UK businesses on average £1.94m annually* and limiting Procurement teams’ ability to deliver more strategic value. Ivalua is the Procurement empowerment platform.

EPE – European Procurement Excellence 2016

Supply Chain Movement

EPE – European Procurement Excellence. Providing procurement value in a complex world. In a world in which procurement is emerging as the key value driver for maintaining a company‘s competitive edge, the role of CPO is becoming more strategic. Procurement leaders are continuously developing strategies to deal with these challenges. Be part of our procurement and supply chain community! Date: 22 June, 2016.

Procurement Technology – What it can and can’t replace in a Manufacturer’s Journey Towards Supply Chain Resilience and Agility

ivalua

A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. Supplier Data is at the core of every procurement activity, and it is critical for those dealing with direct materials in manufacturing.

Apple Procurement Leader Hails from NC State

NC State SCRC

Today’s WSJ front page shares the important role of one of Apple’s top senior executives who runs much of the procurement and supply chain activity for Apple – Tony Blevins. At that meeting, we discussed the importance of individuals’ “learning agility”, as many who come to Apple have never before experienced anything like the rush of responsibility and quick decision-making that comes to them. He wanted to weaponize procurement in a short-term way.

Procurement Experiences, Trends and the Future!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? Secondarily, we will include information from other procurement professionals and procurement firms about their experiences, what they forecast, and what they are seeing. We have worked in hundreds of different industries and spend areas over many years in thousands of procurement projects. The Next in Procurement.

5 Best Practice Effectively Roll-out Digital Procurement Software

ivalua

Anyone who has been through a Procurement software implementation will know, it’s not always simple. Here are a few points which I hope demonstrate my knowledge of the Procurement process and show my understanding of how the Procurement function needs to operate to be successful.

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. However, I am aware of one from Pierre Mitchell that found the Myers-Briggs ESTJ type is the dominant one in procurement with over 20% of survey takers. All change will meet some resistance whether or not people admit it.