OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. Procurement can be done by a government agency, a private organization, or an individual, and it can involve purchasing anything from pencils to complex machinery. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Supply Chain Shaman

JANUARY 31, 2022

Traditional risk management policy assumes a contraction in growth: the conventional focus is the shutdown and reallocation of supply. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. The US GDP in 2021 grew at an unexpected rate of 5.7% in the second year of the pandemic. Focus on Cost.

Procurement Analytics 217

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 217

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. Measuring and reporting.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

Supply Chain Shaman

FEBRUARY 7, 2022

Traditional risk management policy assumes a contraction in growth: the conventional focus is the shutdown and reallocation of supply. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. The US GDP in 2021 grew at an unexpected rate of 5.7% in the second year of the pandemic. Focus on Cost.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195

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.

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

Jaggaer

MARCH 18, 2020

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. However, he finds hope in how procurement has adjusted in the recent past.

Procurement Analytics 81

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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? Analyze performance metrics and implement improvements to enhance efficiency.

Optimal Sourcing 74

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SCMDOJO

FEBRUARY 29, 2024

The biggest challenge is that simply offering metrics, even those that appear to be the “right” metrics, usually doesn’t produce any results. The questions that are most often asked are: What metrics should I use? What metrics do others (in my industry) use? Where do I begin?

Vendor Strategies 55

Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

Logistics Viewpoints

JULY 22, 2021

The process as is implemented in many companies focuses on balancing demand and supply based on preestablished rules and policies that serve as guardrails for the planning process. A close alignment between Procurement and Supply Chain can also yield several very interesting use cases that will help turbocharge your business.

S&OP 244

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Logistics Viewpoints

SEPTEMBER 13, 2022

In the past few decades, an increasing number of organizations have adopted environmental, social and governance ( ESG ) initiatives to help heal the planet as well as to make cost and efficiency improvements in their supply chain and procurement operations. Next, the enterprise can set targets.

Cost Reduction Strategies 211

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Logility

AUGUST 15, 2023

The average volume, rising expenditures, and varying price arrangements for each item across multiple suppliers further complicate the procurement landscape. This broad spectrum must be captured fully, including metrics on energy consumption, water usage, and overall environmental impact,” explains Vethuizen.

Supply Chain Planning Software 130

Supply Chain Planning Software Supply Chain Planning Scenario Planning Modeling 130

Supply Chain Shaman

SEPTEMBER 3, 2018

We consistently see that companies focused on functional excellence–a focus within a functional silo like manufacturing, transportation or distribution– or singular metrics– like inventory or costs– underperform against their peer groups. Reward teams for cross-functional metrics. Tie policy to action.

Supply Chain Planning Software 311

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Logility

APRIL 29, 2021

Know your vendors and apply consistent policies and procedures. As global supply chains and procurement scrutiny become more and more complex, risks increase and the range of stakeholders who demand a compliant supply chain has increased from simply regulators to investors, providers, partners, consumers, and the media.

Optimal Sourcing 203

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HICX Solutions

AUGUST 11, 2021

SXM Webinar Series with Art of Procurement. In the first of a three-part Art of Procurement Live Webinar Series ‘Putting the Supplier Experience at the Forefront of Strategic Procurement’ in partnership with HICX, we focus on how to make the business case for Supplier Experience Management (SXM). . We are discussing them.

Procurement Analytics 52

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SCMDOJO

APRIL 11, 2023

It covers the basics of procurement, including procurement strategies, contract management, and supplier selection. You’ll also learn about supply chain management and the various stages of the procurement process. Pros: It forms part of the CIPS Level 2 Certificate in Procurement and Supply Operations qualification.

Supply Chain Design Software 113

Supply Chain Design Software Course Supply Chain Planning Software Supply Chain Software 113

Proxima

MAY 15, 2020

Out of 502 participants from business owners to Directors, 86% said that they currently use sustainability as a metric to help shape decision making within their business. American Express has reported savings of $10 to $15 million annually, as a direct result of its remote working policy, while also driving business outputs up by 43%!

Supply Chain Design Software 94

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The Logistics & Supply Chain Management Society

SEPTEMBER 14, 2021

The Group’s sustainability policy is based on three pillars: Acting for People, Acting for Planet and Acting for Responsible Trade. In order to achieve this target, CEVA Logistics is incorporating environmental considerations in a variety of areas of operations, from warehousing to transportation and procurement. Acting for People.

Resource Reduction 242

Resource Reduction Supply Chain Planning Software Global Supply Chain Software 242

EcoVadis

SEPTEMBER 4, 2019

Data from this year’s Sustainable Procurement Barometer shows there’s a clear ROI for moving along the sustainable procurement maturity curve. . The fact that leaders are successfully implementing these policies and tools show how critical they all are for driving higher levels of sustainable procurement performance. .

Supply Chain Planning Software 45

Supply Chain Planning Software Optimal Sourcing Modeling Software Supply Chain Software 45

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

Procurement Analytics 16

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Supply Chain Shaman

OCTOBER 29, 2020

Cash-to-Cash Metrics. Cash-to-cash is a compound metric: (Days of Receivables+Days of Inventory)-Days of Payables=Cash Conversion Cycle. While touted as a digital procurement provider, it took the Company nine days to onboard me as a vendor, and two weeks to process a Purchase Order. In times of uncertainty, cash is king.

Optimal Sourcing 229

Optimal Sourcing Supply Chain Design Software Waste Reduction Inventory Reduction 229

QAD

MARCH 9, 2023

That means looking at the right metrics. Build an end-to-end supply chain model inclusive of procurement, production, distribution, and sales activities to pinpoint exactly where cost increases are coming from. Be influenced by metrics that transcend operations, profitability, and risk. What About Cash?

Agile and Lean Supply Chain 95

Agile and Lean Supply Chain Supply Chain Planning Software Scenario Planning Modeling 95

EcoVadis

SEPTEMBER 12, 2019

Executive commitment to sustainable procurement is at an all-time high, but several roadblocks continue to impact organizational ROI. Nearly half of procurement organizations (45 percent) indicated they only have visibility into tier-1 suppliers. The roadblocks are limiting sustainable procurement value and ROI.

Optimal Sourcing 40

Optimal Sourcing Sustainability Procurement Supply Chain Planning Software 40

Supply Chain Shaman

JULY 30, 2022

” (The use of the term “basics” is usually code for the implementation of Enterprise Resource Planning (ERP) to improve order-to-cash and procure-to-pay.). Over 90% of companies have a corporate social responsibility policy, but there is no inertia to move to outside-in processes to decrease landfill and waste.

Supply Chain Design Software 195

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Enterra Insights

JULY 18, 2023

Create an enabling policy environment for collective action, such as public-private partnerships and local NbS implementation consortiums. Transition to adaptive policies that enable NbS across infrastructure engineering, procurement, and construction. Stimulate private investment through blended financial solutions.”

Resource Reduction 130

Resource Reduction Industrial Industry Waste Reduction 130

GlobalTranz

APRIL 5, 2017

If your vendors do not understand your organization’s policies and procedures regarding inbound freight , how can they adhere to your needs? Approximately 54 percent of companies actively run metrics on inbound freight, but these metrics may be lacking. In other words, the term, “metrics,” can be deceiving.

Vendor Strategies 123

Vendor Strategies Cost Reduction Strategies Inventory Reduction Logistics 123

SupplyPike

MAY 14, 2020

Supply Chain Management (SCM) is a systematic and controlled procurement operation. Procurement usually comprises a diverse range of suppliers chosen according to a conceived ability to supply merchandise at the right price. Most manufacturers depend on just-in-time (JIT) manufacturing policies. On Time In Full Dashboard.

Supply Chain Planning Software 98

Supply Chain Planning Software Supply Chain Software Supply Chain Planning Procurement Analytics 98

SYSPRO Smarter ERP

MARCH 27, 2023

Steps to greater supply chain sovereignty One argument is that cost and efficiency should no longer be the main metrics in determining how a supply chain works. Revise sourcing policies to focus more on reliable delivery rather than just lower costs. The last three years have exposed the risks of doing that.

Manufacturing Procurement 104

Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Modeling 104

Supply Chain Shaman

JUNE 5, 2013

Integration of corporate social responsibility metrics in planning. There is a lack of clarity on what drives value and metrics are functional. Inventory is often focused on as a singular metric, not as part of a complex supply chain system. Procurement. Procurement programs are implemented as standalone processes.

Supply Chain Planning Software 216

Supply Chain Planning Software Supply Chain Planning Supply and Demand Supply Chain Design Software 216

ivalua

FEBRUARY 24, 2021

But procurement organizations often fall into the trap of focusing on short-term cost reduction strategies, and in doing so, fail to reap the benefits of strategic supplier relationships. In some organizations, this task belongs to Procurement, and in others the responsibility lies with the AP team. Inquiry about payment status?

Cost Reduction Strategies 130

Cost Reduction Strategies Resource Reduction Negotiating Skills Optimal Sourcing 130

Supply Chain Opz

MARCH 26, 2015

It makes decisions for policies, activities and procedures to make sure the right amount of each item is held in stock at any time.” - from Inventory Control and Management by Donald Waters According to the same author, inventory control is the function and it's also known as Inventory Management or Stock Control. What is Storage Policy?

Inventory Reduction 113

Inventory Reduction Inventory Forecasting Manufacturing Procurement 113

Taulia

AUGUST 29, 2023

This, in turn, can ensure that products received from suppliers are consistently of an appropriately high quality, procured at the right cost, and delivered on time. These metrics can help the company evaluate the efficiency and effectiveness of its supply chain processes and identify any shortcomings.

Supply Chain Planning Software 52

Supply Chain Planning Software Material Savings Optimal Sourcing Sourcing Strategies 52

SCMDOJO

AUGUST 16, 2023

The ability to analyze this data enables the retail giant to make informed decisions on product procurement, inventory management, and demand forecasting. One of the key elements of the EDLC policy is the direct procurement of items from suppliers, eliminating intermediaries in the process.

Inventory Reduction 74

Inventory Reduction Vendor Strategies Price Reduction Supply Chain Planning Software 74

EcoVadis

MAY 19, 2016

Procurement technology should make it easy to source ethically. Supply chain transparency is one of the key challenges facing Procurement and Sourcing in the coming years. The same is true of Procurement solutions: the abilities – and limits – of the technology play a key role in shaping buyers’ expectations of their own abilities.

Optimal Sourcing 40

Optimal Sourcing Procurement Solutions Procurement Analytics Optimization Software 40

ToolsGroup

SEPTEMBER 25, 2019

Digital transformation is not seen as a singular activity but a set of interrelated activities that span across people, process, technology, policy, and metrics,” said George Fowler, group vice president in Spinnaker’s Supply Chain business unit.

Supply Chain Planning Software 136

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Supply Chain Software 136

Supply Chain Shaman

MAY 7, 2015

I find that the path to building an end-to-end value network usually goes through five distinct phases: improving transactional efficiency, data sharing, formulation of policy, building relationships and engaging in joint value creation. These leaders orchestrate the trade-offs between functions with a focus on shared metrics.

Sourcing Strategies 150

Sourcing Strategies Resource Reduction Optimal Sourcing Cost Reduction Strategies 150

Precoro

OCTOBER 10, 2022

In today's competitive market, where it's not all about cost savings, tracking procurement performance and aligning it with business goals and objectives is a must-have. So how do you measure the effectiveness of procurement operations within your organization? What Are Procurement KPIs, and Why Use Them?

Procurement Analytics 52

Procurement Analytics Optimal Sourcing Manufacturing Procurement Procurement Solutions 52

Precoro

MAY 27, 2021

For anyone responsible for procurement in an organisation, supplier management is an inevitable area of responsibility. Formulate business requirements Procurement is not just about cutting costs and looking for the cheapest deal. This can be successfully executed by well fostered cross-team communication and shared business goals.

Negotiate Pricing 52

Negotiate Pricing Supplier Management Procurement Analytics Negotiating Skills 52