SCMDOJO

MARCH 19, 2024

This might involve optimizing inventory levels, negotiating better deals with suppliers, or implementing just-in-time manufacturing techniques. This data can be used to identify areas for improvement and make informed decisions about sourcing, production, and distribution. Grab yours now!

Optimal Sourcing 74

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 74

Locus

JUNE 3, 2022

billion metric tons—the emissions have rebounded in 2021 and 2022. Source: Statista.com. Transportation was redirected to be used in providing first aid, leading to supply chain bottlenecks, shortages and price hikes. Planning : Processes are designed to reduce emissions and meet demand with ethical sourcing.

Negotiating Skills 52

Negotiating Skills Negotiate Pricing Purchasing Skills Optimal Sourcing 52

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

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 Negotiating Skills 111

EC Sourcing Group

MAY 17, 2023

Accurate classification of products, services, and suppliers forms the foundation for improved decision-making, cost optimization, and enhanced supply chain management. Effective Supplier Management: Accurate spend classification is pivotal in managing suppliers efficiently.

Optimal Sourcing 52

Optimal Sourcing Negotiating Skills Negotiate Pricing Sourcing Strategies 52

OptiProERP

MAY 18, 2023

Procurement is acquiring goods, services, or works from an external source. It involves sourcing, negotiation, ordering, delivery, and payment for goods or services. This type of procurement involves purchasing raw materials, components, and finished goods from suppliers. So what is procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

ivalua

AUGUST 17, 2021

There are, in fact different phases of procurement value creation that tie into the Source-to-Pay process: . Creating Value occurs when sourcing and procurement uses relevant sourcing processes and tools to engage and select the best fit supplier. Creating value isn’t enough though, the value still has to be captured. .

Manufacturing Procurement 130

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

Precoro

MAY 27, 2021

For anyone responsible for procurement in an organisation, supplier management is an inevitable area of responsibility. Poor supplier performance due to the lack of oversight, analytics and clearly defined requirements. Anticipate and react to market volatility and price changes. Segment your suppliers.

Negotiate Pricing 52

Negotiate Pricing Supplier Management Procurement Analytics Negotiating Skills 52

Precoro

MAY 22, 2023

The IT procurement process encompasses a range of steps, from establishing IT requirements all the way to negotiating contracts with vendors. IT team members are aware of the requirements necessary for a technology to function properly, whereas procurement professionals are skilled at contract sourcing and negotiation.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

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. AT A HIGH LEVEL …. Influenceable and Managed Spend.

Purchasing Skills 70

Purchasing Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 70

Taulia

OCTOBER 7, 2021

The procurement process that they oversee includes sourcing, selecting and negotiating with vendors, creating purchase orders and tracking the receipt of goods. And that means monitoring performance against pre-set procurement key performance indicators (KPIs) and procurement metrics. Supplier defect rate.

Procurement Analytics 52

Procurement Analytics Procurement Solutions Optimal Sourcing Purchasing Skills 52

Precoro

SEPTEMBER 4, 2023

Morgan Working Capital Index 2020 , there is significant capital trapped in the form of working capital that can become a vital source of additional liquidity for corporations. The cash conversion cycle (CCC), also called the net operating cycle, is a metric used to measure the efficiency of a company's cash management and liquidity.

Optimal Sourcing 59

Optimal Sourcing Negotiate Pricing Inventory Reduction Material Savings 59

NC State SCRC

NOVEMBER 2, 2023

When I was there, an employee’s base pay came every 4 weeks, and it would go up based on hitting certain metrics – Net Sales and Return on Total Assets. The only metric that mattered was how you were doing vs. the market and the competition – were you getting a lower price than Hershey or Nestle?

Procurement Analytics 52

Procurement Analytics Negotiating Skills Manufacturing Procurement Optimal Sourcing 52

Supply Chain Matters

JULY 7, 2023

According to the June report summary , the primary driver of the latest decline was the inventory metric, which reportedly contracted 6.5 Consequently, the warehousing capacity metric increased a reported 6.8 Both metrics contributed to the overall contraction in the LMI along with contracting price levels for transportation.

Negotiating Skills 52

Negotiating Skills Logistics Network Optimization Software Inventory Reduction Negotiate Pricing 52

Unleashed

MARCH 16, 2021

Liaising with suppliers and negotiating with new suppliers. Time is limited when it comes to sourcing, tendering and negotiating with suppliers. Source the right technology. Select a supplier. Select a supplier. The next step is to acquire the product or service through a supplier.

Purchasing Skills 59

Purchasing Skills Manufacturing Procurement Procurement Solutions Procurement Analytics 59

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. Your stakeholders can: Align sourcing, purchasing, logistics, and I.T. Sourcing uses P.O. performance metrics to influence vendor behavior and impact sourcing choices.

Pricing Training 145

Pricing Training Purchasing Skills Purchasing Training Negotiating Skills 145

Oracle SCM

AUGUST 1, 2018

Often this data is rolled up organizationally, geographically or in distribution through performance metrics or key performance indicators (targets change with these roll ups). Optimal inventory management using data from point of sale systems, in store inventory updates, in transit inventory and VMI on hand at supplier warehouses.

Supply Chain Planning Software 104

Supply Chain Planning Software Inventory Management Software Gartner Demand Planning Software 104

Supply Chain Shaman

MAY 21, 2013

Originally healthcare suppliers sold to physicians. At the dawn of the decade, the supplier had the power. In the last five years, while the physician is still important, the buying decisions transitioned from the supplier to the care provider. Suppliers now have a dance partner. It is now shifting again.

Modeling 236

Modeling Modeling Software Pharmaceutical Procurement Analytics 236

Unleashed

MARCH 23, 2021

Materials management involves the sourcing, procurement, storage and utilisation of direct or indirect materials (see below) used in the manufacturing process. That means someone has to analyse sales data and forecast demand in order to build a pipeline of suppliers able to meet said demand throughout its peaks and troughs.

Material Savings 98

Material Savings Purchasing Skills Manufacturing Procurement Negotiating Skills 98

Unleashed

JANUARY 10, 2023

The 5 components of the supply chain planning process: Supply chain visibility Supply chain mapping Production optimisation Product pricing optimisation Implementation of supply chain planning software Combine these and you’ll get an optimised supply chain planning strategy that brings in extra revenue and helps you cut unnecessary business costs.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Planning Supply Chain Software Supply Chain Design Software 52

EC Sourcing Group

MAY 31, 2023

Managing spending is a top priority for executive teams across industries, and purchase price variance (PPV) holds immense significance in controlling costs. PPV measures the variation between the actual purchased price and the standard baseline price of goods and services.

Negotiating Skills 52

Negotiating Skills Purchasing Skills Negotiate Pricing Procurement Solutions 52

Unleashed

OCTOBER 16, 2023

To mitigate the associated risks, these challenges of raw material inventory management must be met with strategic planning, effective inventory management, and strong supplier relationships. Reliance on a few suppliers How you procure and manage your suppliers will impact how they perform.

Inventory Management Software 52

Inventory Management Software Material Savings Inventory Management Inventory Reduction 52

Unleashed

MAY 1, 2023

James says that understanding the market can be as simple as regular communication with your customers and suppliers. Some categories are more price-elastic than others, so there’s less scope in terms of price. Some categories are more price-elastic than others, so there’s less scope in terms of price.

Forecasting 96

Forecasting Supply and Demand Modeling Forecasting Software 96

Supply Chain View from the Field

AUGUST 27, 2014

The focus is on establishing a basis for collaboration relationships with supply chain partners through focused supply market intelligence research, relationship assessment and management, negotiation, collaborative contracting, and on-going management of relationships in global supply chains.

Negotiating Skills 68

Negotiating Skills Negotiate Pricing Supply Chain Design Software Manufacturing Procurement 68

Unleashed

JANUARY 4, 2024

Where you buy your products from and how you find those suppliers largely determines your ceiling for success as an eCommerce merchant or retailer. Product sourcing, done the right way, can set your business up with the foundations needed for achieving maximum sales. What is product sourcing? Where can you source products from?

Purchasing Skills 52

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 52

Supply Chain Shaman

AUGUST 11, 2015

The rising complexity of items sold decreases the organization’s ability to forecast, and the longer lead times across multiple tiers of sourcing and supply, increases the bullwhip impact (distortion of the demand signal across multiple tiers of the value network). Implement Supplier Sensing and Supplier Visibility Programs.

Supply Chain Design Software 150

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

Enterra Insights

JUNE 21, 2021

This is often done using highly competitive bids and power-based negotiations approaches. In a fair and balanced value exchange, organizations check their power at the door and instead focus on getting to a fair price versus value tradeoff (such as quality/service). However, it is important to propagate these metrics vertically.”

Modeling 130

Modeling Scenario Planning Optimal Sourcing Modeling Software 130

ShipBob

JANUARY 28, 2022

In this article, we break down what inventory KPIs entail, why they matter, and which metrics are most valuable for you to track. . Key performance indicators (KPIs) are the quantifiable metrics companies use to gauge their progress toward a specific goal. . Not sure what those metrics are? Stock availability. Cost per unit.

Inventory Management Software 98

Inventory Management Software Inventory Management Inventory Reduction Inventory 98

Proxima

DECEMBER 10, 2020

In a recent article, The Financial Times identified changes to bonus plans as adding non-financial metrics to bonus qualifications and excluding months of poor profits increased during the worst of the pandemic. Think about re-engineering products or services, changing suppliers, outsourcing, make vs buy, digitization, automation and more.

Expense Reduction 52

Expense Reduction Cost Reduction Strategies Price Reduction Negotiating Skills 52

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 16

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 16

Supply Chain View from the Field

JANUARY 14, 2015

Such systems are also instrumental in establishing aligned tactical and strategic performance metrics systems that drive improved economic outcomes (Bendoly et al., This however may be due to the supplier segmentation process that occurs when organizations have access to better spend data. procurement activities.

Manufacturing Procurement 60

Manufacturing Procurement Negotiating Skills Purchasing Skills Procurement Analytics 60

Supply Chain Trend

DECEMBER 22, 2023

I would now split planning into basic planning decisions (change a price to close a projected value gap) and complex planning decisions (align internal functions, supplier, and customer around a new product introduction, relationship complexity that a machine can’t solve). Decision quality will become a performance metric in IBP.

Supply Chain Planning Software 78

Supply Chain Planning Software Supply Chain Planning Scenario Planning Negotiating Skills 78

NC State SCRC

NOVEMBER 5, 2016

Contract management analytics are critical for tracking transactional compliance with contract pricing, terms and conditions, but also as a vehicle for workflow management around negotiation of contract renewals, and aggregation of supplier performance data on service level agreements, delivery, quality, and service performance.

Negotiating Skills 40

Negotiating Skills Analytics Software Supply Chain Planning Software Modeling Software 40

Unleashed

JUNE 15, 2023

It’s an important inventory accounting metric for any company selling physical goods as it directly impacts profit margins and product pricing. It’s possible to reduce Cost of Goods Sold by buying in bulk or when a discount is available, negotiating with or changing suppliers, and sourcing cheaper labour.

Purchasing Skills 52

Purchasing Skills Negotiating Skills Examples Cost Reduction Strategies 52

Elementum

MAY 1, 2018

Potential Sources of Disruption. Identifying sources of risk and developing a plan are only part of the story. Establish appropriate metrics that correspond with the steps outlined in your contingency plan. What alternative plants/factories/sources of supply do they have at their disposal? Cyberattack and data breach.

Pharmaceutical 94

Pharmaceutical Supply Chain Planning Software Supply Chain Planning Supply Chain Design Software 94

Supply Chain View from the Field

APRIL 10, 2015

Kevin and I worked together years ago to help define the a baseline framework for strategic sourcing and category management that was deployed within the Lubricants group, and which later became deployed across the entire Shell Procurement organization. Rather, it requires true collaboration with trusted supplier partners.

Negotiating Skills 60

Negotiating Skills Negotiate Pricing Optimal Sourcing Sourcing Strategies 60

Unleashed

APRIL 3, 2024

The contribution margin formula is essential for making the right decisions for your business – especially when creating budgets, accounting for inventory , and pricing products. The contribution margin ratio is a financial metric used to assess a company’s profitability. What is the contribution margin?

Expense Reduction 52

Expense Reduction Price Reduction Waste Reduction Resource Reduction 52