Precoro

NOVEMBER 11, 2024

These benefits aren’t just about lower prices; they’re also about reducing transportation and inventory costs, which can really add up over time. After the approval stage, the team reaches out to trusted suppliers in their catalog who can deliver the goods. They also continuously track supplier performance.

Pricing Training 105

Pricing Training Expense Reduction Price Reduction Purchasing Training 105

My Office Apps

OCTOBER 21, 2024

Vendor Relationship Management (VRM) helps businesses manage supplier interactions, track performance, and ensure smooth procurement processes. Let’s explore why these features are crucial for optimizing supplier relationships and driving business growth. Why is Vendor Relationship Management Important?

Vendor Strategies 98

Vendor Strategies Procurement Solutions Supply Chain Planning Software Optimization Software 98

Supply Chain Shaman

NOVEMBER 15, 2021

We Assumed that Transportation Would Always Be Available And That We Just Needed to Negotiate Price. Without any penalties for failure for first-pass tender acceptance, carriers and shippers have played a shell game on price. Only 29% of companies have active supplier development groups. What Should We Do.

Supply Chain Design Software 355

Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 355

Jaggaer

OCTOBER 24, 2024

Building Stronger Relationship s : Effective Approaches to Multi-Tier Supplier Collaboration A chain is only as strong as its weakest link—but what if you can’t evaluate the entire chain? Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supply chain.

Negotiate Pricing 52

Negotiate Pricing Optimal Sourcing Supply Chain Planning Software Negotiating Skills 52

SCMDOJO

JANUARY 9, 2025

Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. It involves a methodical approach aimed at developing long-term supplier relationships, mitigating risks, and improving overall cost efficiency. Done well, it can become a key driver of competitive advantage.

Optimal Sourcing 96

Optimal Sourcing Manufacturing Procurement Procurement Solutions Negotiating Skills 96

SCMDOJO

APRIL 11, 2025

Running procurement and supply chain without metrics is like driving blindfolded. A scorecard acts as your dashboard, providing crucial visibility that helps you: Make Data-Driven Decisions: Replace guesswork with facts when evaluating suppliers, processes, and inventory levels. Decoding the Metrics: What Are They Telling You?

Pricing Training 57

Pricing Training Negotiating Skills Purchasing Skills Optimal Sourcing 57

Silvon Software

APRIL 19, 2022

Procurement is one core process area being focused to better manage today’s fluctuating change, with key performance metrics leading the way to assessing and managing procurement performance. Supplier KPIs. On-time delivery measures the reliability of a company’s suppliers with regard to delivering shipments when promised.

Optimal Sourcing 124

Optimal Sourcing Procurement Analytics Manufacturing Procurement Negotiate Pricing 124

SCMDOJO

FEBRUARY 26, 2025

The Cost Performance Index (CPI) is a financial efficiency metric used to measure cost performance in projects and operational activities. indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. al, negotiating better rates , or consolidating shipments. A CPI of 0.83

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

Jaggaer

FEBRUARY 5, 2025

A successful approach requires careful assessment of supplier bids, followed by structured onboarding, continuous monitoring, and performance measurement. When assessing bids following an eAuction, the process typically involves a combination of automated tools and human decision-making, especially when evaluating factors beyond just price.

Sourcing Strategies 52

Sourcing Strategies Negotiating Skills Optimal Sourcing Price Reduction 52

Unleashed

MARCH 9, 2021

Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis. This is often managed with the help of supplier management software or inventory management software. Accelerating value capture by leveraging digitisation, supplier management software, and spend analytics.

Procurement Analytics 104

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 104

Precoro

NOVEMBER 13, 2023

One of the ways that procurement teams improve this figure is by tracking and improving the purchase price variance (PPV) metric. In this article, we'll explain what PPV is, why it matters, and how tracking this metric can benefit your procurement processes. Why Is Purchase Price Variance Important?

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Jaggaer

MARCH 24, 2025

Impact on Procurement: Gen AI leverages vast datasets to generate actionable insights, helping procurement teams predict future trends, such as market shifts, supplier performance, and demand fluctuations. Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supply chain risks.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Negotiating Skills 52

Precoro

MARCH 27, 2025

Negotiate better contract terms. For example, companies can negotiate a contract that reduces the per-unit price from $5 to $4.50 Achieved through strategies like bulk purchasing, supplier consolidation, and procurement process automation. Identify unnecessary spending. and achieve an immediate, lasting cost decrease.

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Expense Reduction Vendor Strategies 45

Unleashed

MARCH 28, 2021

Supplier relationship management is often referred to as the B2B equivalent of customer relationship management. We’ll define this crucial management concept and explain how you can implement and improve supplier relationship management to leverage business success. What is supplier relationship management?

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Optimal Sourcing 111

Talking Logistics

OCTOBER 29, 2013

You write an RFQ, screen candidates, create a short list, select the provider, and negotiate service requirements and a cost structure. performance metrics to influence vendor behavior and impact sourcing choices. Inconsistent supplier participation levels impact expected order and cargo volumes under management.

Pricing Training 170

Pricing Training Purchasing Skills Purchasing Training Supply Chain Planning Software 170

SCMDOJO

FEBRUARY 21, 2025

Build strong supplier partnerships for long-term stability. Supplier Financial Instability: Bankruptcy or operational shutdowns of key vendors. Damaged supplier relationships and business reputation. Improved Supplier Collaboration: Stronger relationships lead to better service levels and pricing.

Optimal Sourcing 53

Optimal Sourcing Supply Chain Disruption Vendor Strategies Cost Reduction Strategies 53

Procurement Academy

OCTOBER 19, 2023

A crucial part of successful procurement strategies is the art and science of negotiation. Procurement negotiation refers to a buyer (usually from a company) and a seller (usually from a supplier) working together and discussing the likes of pricing, terms, conditions, and other aspects of a procurement contract.

Negotiating Skills 52

Negotiating Skills Pricing Training Negotiate Pricing Purchasing Training 52

Supply Chain View from the Field

JULY 22, 2015

I had the opportunity to engage in a negotiation seminar with a large insurance company last week, and had the team work on a software contract role play. In the scenario, there was both a buyer and supplier, and there were multiple facets to consider in the negotiation. Data Security and Rights.

Pricing Training 60

Pricing Training Purchasing Training Negotiate Pricing Negotiating Skills 60

Precoro

DECEMBER 11, 2023

The dynamic landscape of modern business comes with increasing product variety and volatile prices, making it more important than ever to stay competitive on the market. As part of the larger procurement process, sourcing involves finding and evaluating suppliers for goods or services that need to be purchased.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

SCMDOJO

APRIL 15, 2025

Perhaps a critical supplier goes out of business, a natural disaster halts shipments, or new regulations are introduced that throw a wrench in your entire process. Operational risks: Supplier bankruptcies, poor quality control, or delays in logistics. Use analytics tools to monitor supplier performance and spot red flags early.

Vendor Strategies 66

Vendor Strategies Sourcing Strategies Price Reduction Resource Reduction 66

Silvon Software

APRIL 23, 2019

Companies that focus on strategic sourcing can generate substantial economic value not just by eliminating waste, reducing costs and improving administrative efficiency, but also by building stronger supplier relationships that can make them more competitive, profitable and nimble. These metrics are noted in the following sections below.

Purchasing Skills 90

Purchasing Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 90

Precoro

JULY 16, 2023

Its main recommendations include buying without personal prejudice from suppliers who offer the optimum value, avoiding conflicts with suppliers, and working in good faith. By tracking the cost savings, the purchasing manager can determine how effectively they are negotiating with suppliers and planning the logistics.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Precoro

MAY 19, 2023

To monitor supply chain performance, stakeholders of successful companies typically define supply chain metrics that are relevant to the given business and track these KPIs regularly. By setting benchmarks for metrics, analysts can recognize unsettling trends and take preventive measures on time.

Procurement Analytics 98

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 98

Taulia

JULY 21, 2022

The supply chain activities involved in the procurement process , from sourcing the right suppliers to taking delivery of materials and products, are vital to the overall health of any business. That makes the performance of suppliers in your supply chain a large factor in optimizing the effectiveness of your broader operational strategy.

Negotiate Pricing 75

Negotiate Pricing Supplier Management Optimal Sourcing Procurement Analytics 75

Freightos

APRIL 23, 2025

billion rate data points monthly to provide the most comprehensive view of the market, helping you identify savings opportunities and make data-driven decisions. It handles everything from rating and booking to shipment management, invoice auditing, and beyond.

Optimal Sourcing 156

Optimal Sourcing Benchmarking Manufacturing Procurement Procurement 156

Supply Chain Shaman

NOVEMBER 15, 2021

We Assumed that Transportation Would Always Be Available And That We Just Needed to Negotiate Price. Without any penalties for failure for first-pass tender acceptance, carriers and shippers have played a shell game on price. Only 29% of companies have active supplier development groups. What Should We Do.

Supply Chain Design Software 195

Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 195

Supply Chain Shaman

NOVEMBER 15, 2021

We Assumed that Transportation Would Always Be Available And That We Just Needed to Negotiate Price. Without any penalties for failure for first-pass tender acceptance, carriers and shippers have played a shell game on price. Only 29% of companies have active supplier development groups. What Should We Do.

Supply Chain Design Software 195

Supply Chain Design Software Supply Chain Planning Software Sourcing Strategies Supply and Demand 195

Supply Chain Game Changer

JANUARY 5, 2021

Purchase Price Variance, or PPV, is a common term in the realm of Purchasing/Procurement and Finance. For some, PPV is a mechanical metric only, measured and reported on but without any further attention paid to it. What exactly is PPV, how can it be managed, and what is the strategic value of investing time and energy in this metric?

Pricing Training 82

Pricing Training Purchasing Skills Purchasing Training Negotiating Skills 82

Supply Chain Game Changer

NOVEMBER 3, 2022

This modern approach allows manufacturers and suppliers to share real-time data about product availability, production, and sales. Procurement is one of the most important parts of supply chain management because it determines which suppliers you work with and how much they charge for their products or services.

Supply Chain Planning Software 115

Supply Chain Planning Software Supply Chain Software Negotiate Pricing Negotiating Skills 115

Supply Chain Shaman

DECEMBER 4, 2018

For the past five years, the team at Supply Chain Insights identified Supply Chains to Admire Award Winners by analyzing performance by peer group on the key metrics of growth, operating margin, inventory turns and Return on Invested Capital (ROIC). The company also taught them to understand the basics of negotiation and risk management.

Supply Chain Software 34

Supply Chain Software Supply Chain Planning Software Supply Chain Design Software Manufacturing Procurement 34

Precoro

MAY 13, 2025

It means a transaction or action provides the most significant benefit for a comparatively low price. Types of cost efficiency metrics Here are five main types of cost efficiency metrics: Cost per unit : Total cost divided by units produced (e.g., Practice proactive pricing A low-cost strategy can improve cost efficiency.

Sourcing Strategies 45

Sourcing Strategies Cost Reduction Strategies Purchasing Skills Negotiating Skills 45

Supply Chain Shaman

AUGUST 11, 2015

Procurement focus shifted from traditional programs focused on solely on contract management, price and term negotiations, and supplier scorecards to include the evolution of supplier development to manage product quality and multi-tier supplier relationships in and across value chain relationships. Things Happen.

Supply Chain Design Software 150

Supply Chain Design Software Supply Chain Planning Software Supply Chain Design Supply Chain Software 150

Procurement Academy

JANUARY 16, 2025

Effective auditing requires the auditor to identify and record audit trails, beginning with understanding how the process interacts with other process inputs, outputs, suppliers and customers. It can lead to better supplier selection and improved communication. Our team are available if you have any questions.

Procurement Analytics 52

Procurement Analytics Sourcing Strategies Optimal Sourcing Negotiating Skills 52

Supply Chain Shaman

DECEMBER 4, 2018

For the past five years, the team at Supply Chain Insights identified Supply Chains to Admire Award Winners by analyzing performance by peer group on the key metrics of growth, operating margin, inventory turns and Return on Invested Capital (ROIC). The company also taught them to understand the basics of negotiation and risk management.

Supply Chain Software 30

Supply Chain Software Case Study Supply Chain Planning Software Supply Chain Design Software 30

SCMDOJO

DECEMBER 11, 2023

Access to data on supplier performance, market trends, and cost analyses enables leaders to optimize procurement strategies for improved efficiency and effectiveness. Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction.

Procurement Analytics 20

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 20

SCMDOJO

MARCH 19, 2024

This might involve optimizing inventory levels, negotiating better deals with suppliers, or implementing just-in-time manufacturing techniques. Moreover, by selecting reliable suppliers, negotiating favorable terms, and ensuring timely delivery, the supply chain department can optimize procurement processes and minimize costs.

Optimal Sourcing 97

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 97

SCMDOJO

OCTOBER 15, 2024

What is the heck behind lean productivity, profitability, and good relations with suppliers and customers? Moreover, it pertains to the effective way of investment, acquiring the inventories, supplier management, handling of inventories over time, and selling it to customers. Then, using that cost to pay the vendors and suppliers.

Inventory Management Software 98

Inventory Management Software Optimization Software Negotiating Skills Supply Chain Software 98