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. By streamlining processes, reducing costs, and improving customer satisfaction, companies can achieve higher profitability and sustainability.

Supply Chain Planning Software 83

Supply Chain Planning Software Optimal Sourcing Supply Chain Design Software Supply Chain Software 83

ivalua

AUGUST 17, 2021

What does Procurement mean? An organization’s Procurement function is responsible for managing spend, in other words the buying goods and services that are used to make the products sold to customers as well as the purchasing of products and services used to run the organization on a day to day basis. What is Direct Procurement?

Manufacturing Procurement 130

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

Supply Chain Shaman

DECEMBER 15, 2022

When reviewing strategy decks for supply chain teams, I often see statements like “move from a functional-silo’d focus to a drive a more holistic response.” In my research, I find that the lack of alignment has a direct impact to value (operating margin and market price to book value). Functional Metrics.

Manufacturing Procurement 393

Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Procurement Analytics 393

SCMDOJO

MARCH 19, 2024

In essence, a structured supply chain department as described in the blog can help you deliver the right supply chain strategy and goals which helps cost reduction, improve customer service, on-time delivery, and better working capital. Watch What is Marketing Procurement? on our SCMDOJO YouTube Channel!

Optimal Sourcing 75

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 75

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

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

The Logistics & Supply Chain Management Society

MARCH 14, 2023

Logistics Procurement – Performance Management by LSCMS Shippers’ Council Shortly after the outset of COVID, in early 2020, supply chains have been disrupted across the globe. Freight procurement is the mainstay of any supply chain professional but price is not the be-all and end-all.

Optimal Sourcing 130

Optimal Sourcing Logistics Network Optimization Software Procurement Logistics 130

QAD

FEBRUARY 7, 2023

These can be unique to your business or industry, but factors like quantity, quality, location, and price are commonly used. Create and Maintain a Strategy The person in charge of supplier relationship management must determine a strategy for each supplier so that the relationship remains efficient.

Price Reduction 97

Price Reduction Material Savings Vendor Strategies Inventory Reduction 97

EC Sourcing Group

MAY 17, 2023

Spend classification can often go unnoticed, despite its critical influence over successful procurement strategy. Streamlining Procurement Processes: Proper spend classification ensures a structured approach to eSourcing activities.

Optimal Sourcing 52

Optimal Sourcing Negotiating Skills Negotiate Pricing Sourcing Strategies 52

Precoro

JULY 16, 2023

This individual also ensures that established purchasing practices align with the general company financial strategy and business objectives. These goals can be expressed as key performance indicators (KPIs) – relevant functional metrics that can be tracked regularly to make sure that the business makes purchases in an efficient way.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

Logistics Viewpoints

AUGUST 15, 2022

GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. Alex Zhong, Director Product Marketing at GEP.

Supply Chain Network Software 218

Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 218

Logistics Viewpoints

JUNE 1, 2023

That’s why staying on top of the latest supply chain planning trends is so important – they can make all the difference when it comes to staying competitive, reducing costs, and meeting your customers’ needs. Here are some highlights from these trends in 2023 and implications on supply chain planning.

Supply Chain Planning Software 193

Supply Chain Planning Software Supply Chain Design Software Supply Chain Planning Supply Chain Software 193

SCMDOJO

FEBRUARY 29, 2024

It is arguably true that supplier performance management is considered a business practice for measuring, analyzing, and managing supplier performance to reduce cost, and risk and also drive continuous improvement. Price isn’t everything. The questions that are most often asked are: What metrics should I use?

Vendor Strategies 55

Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

Logistics Viewpoints

OCTOBER 12, 2023

Lower-income consumers and those using food assistance programs care the most about food waste as a purchase driver—again, suggesting it is a response to higher prices.” The same “If” statement was repeated for a host of financial and operational metrics.

Supply Chain Design Software 228

Supply Chain Design Software Supply Chain Design Supply Chain Planning Software Supply Chain Planning 228

Precoro

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Precoro

MARCH 31, 2023

March 21 was the second annual iteration of World Sustainable Procurement Day , an online event organized by the Sustainable Procurement Pledge team, SPP Chapters, SPP Champions, and partners to raise awareness about the importance of ethical procurement and to share the best sustainability practices with organizations worldwide.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 52

QAD

MARCH 9, 2023

When manufacturers planned for 2022, they did not foresee that energy prices would skyrocket by 40% in Europe and 23% in the US and that inflation would run at 8-10%, depending on the region.” For many, the answer is simple: raise prices and pass on some of those cost increases. That means looking at the right metrics.

Agile and Lean Supply Chain 94

Agile and Lean Supply Chain Supply Chain Planning Software Scenario Planning Modeling 94

Unleashed

MARCH 28, 2021

Supplier Relationship Management (SRM) is a management concept frequently used by procurement and supply chain professionals. Part of an overall supply chain management strategy, SRM focusses on optimising efficiencies and creating value for all stakeholders. Reduces costs. Cost reductions. Optimises performance.

Negotiate Pricing 111

Negotiate Pricing Cost Reduction Strategies Price Reduction Negotiating Skills 111

Supply Chain Shaman

SEPTEMBER 28, 2022

Last week, after booking an additional $1B in unexpected supplier costs in the third quarter, the CFO led the company’s focus on restructuring to “support efficient and reliable sourcing of components and internal development of key technologies and capabilities.” What is the issue? These capabilities do not exist at Ford.

Manufacturing Procurement 195

Manufacturing Procurement Supply Chain Design Software Network Design Software Supply Chain Planning Software 195

Logistics Viewpoints

JULY 22, 2021

As product flows rapidly shifted and hard baked assumptions about lead times and sourcing locations were put to test, users across many organizations bypassed their planning systems and turned to excel sheets, internal data science teams or non-traditional supply chain vendors who could deliver AI based solutions at a faster turn.

S&OP 244

S&OP Supply and Demand Optimal Sourcing Supply Chain Design Software 244

Unleashed

JANUARY 29, 2024

It involves the identification and elimination of low-performing or unprofitable products and the prioritisation of those that generate the most value for your customers and the greatest revenue for the business. Reduced storage and supplier costs. SKU rationalisation is the process of analysing and your product portfolio.

Inventory Reduction 52

Inventory Reduction Cost Reduction Strategies Waste Reduction Resource Reduction 52

ShipBob

FEBRUARY 3, 2023

By monitoring particular metrics over time across your online sales, in-store sales, and operations, you’ll gain quantitative insights into your business performance. A retail KPI (or “Key Performance Indicator”) refers to a quantifiable metric used to measure how a retail business is performing. Why are retail metrics important?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

Taulia

OCTOBER 7, 2021

The procurement process is a critical business function, but how do you measure how effectively the process is managed in your business? Setting KPIs for your procurement department can help to demystify their performance and deliver insights into where improvements can be made. So which procurement metrics and KPIs should you measure?

Procurement Analytics 52

Procurement Analytics Procurement Solutions Optimal Sourcing Purchasing Skills 52

Procurement Academy

OCTOBER 25, 2021

This wider focus is known as ESG , environmental, social, and governance, and for procurement and supply chain functions, ESG’s wider focus brings challenges. How should a procurement function regard a supplier with fewer green credentials, but a better performance when it comes to social responsibility? Choices, choices, choices.

Price Reduction 98

Price Reduction Inventory Reduction Buyer Training Procurement 98

Talking Logistics

JUNE 30, 2015

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. As a strategic process, transportation procurement may still seem very tedious and challenging.

Negotiating Skills 100

Negotiating Skills Manufacturing Procurement Material Savings Procurement 100

Logility

AUGUST 15, 2023

Even before importing and selling any item, every step addresses complex challenges amplified by regulations dictating the origin of goods and ethical sourcing and labor practices. The average volume, rising expenditures, and varying price arrangements for each item across multiple suppliers further complicate the procurement landscape.

Supply Chain Planning Software 130

Supply Chain Planning Software Supply Chain Planning Scenario Planning Modeling 130

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

GlobalTranz

SEPTEMBER 23, 2021

on-highway diesel fuel prices are up $0.898 from the end of August 2020. A Possible Stimulus on the Horizon May Increase the Challenge of Procurement Through Peak Season. Many faced repeated price increases of more than 10-15 percent over just a few years ago. transportation metrics ?that According to the?

Prescriptive Analytics Software 308

Prescriptive Analytics Software Optimal Sourcing Pricing Training Negotiating Skills 308

Material Handling & Logistics

OCTOBER 30, 2018

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.

Optimal Sourcing 110

Optimal Sourcing Procurement Solutions Procurement Analytics Procurement 110

ThroughPut

JULY 24, 2022

In 2020, the strongest players started rethinking their planning strategies. While acknowledging the need to reassess planning approaches is indeed a positive sign, however, the unfortunate truth is that existing planning capabilities will not cut it if retail businesses want to remain relevant over the next decade.

Supply Chain Planning Software 96

Supply Chain Planning Software Supply Chain Software Forecasting Software Optimization Software 96

SYSPRO Smarter ERP

MARCH 27, 2023

Instead of the old vertically integrated business models (where one manufacturer performed most activities), international supply chains using specialized suppliers led to lower costs of production and services, improved quality, and better pricing. Revise sourcing policies to focus more on reliable delivery rather than just lower costs.

Manufacturing Procurement 104

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

OptiProERP

APRIL 9, 2024

Sales representatives or an automated system generates quotes based on product specifications, pricing, and terms. Collaboration between production, procurement, and logistics teams is essential to optimize resource utilization and minimize lead times. Quote-to-Cash Steps 1.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Inventory Management Software 52

Supply Chain Shaman

FEBRUARY 14, 2022

Orchestration enables companies to effectively manage trade-offs between source, make, deliver and sell.) Organizations can align to drive value despite the allegiance to functional metrics. We source this data from Y charts. As long as companies are motivated by functional metrics, inventory management will be an enigma.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

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. Metric: The number of orders containing defective products divided by the total number of orders placed. Availability. Order accuracy.

Negotiate Pricing 75

Negotiate Pricing Supplier Management Optimal Sourcing Procurement Analytics 75

Supply Chain Matters

FEBRUARY 17, 2023

The same source, Birinyi Associates, indicated that U.S. According to a published report by S&P Global Market Intelligence , more than one in five listed S&P 500 Companies increased their earnings-per-share metric by a least 4 percent by the third quarter of last year. firms announced a record $1.26

Supply Chain Transformation 52

Supply Chain Transformation Supply Chain Planning Software Cost Reduction Strategies Expense Reduction 52

Unleashed

APRIL 21, 2024

This guide breaks down the order processing steps and definition, and then explores a few helpful strategies for improving it. Inventory sourcing: The locations of ordered items are identified in the warehouse or distribution centre – or reordered from the supplier if no stock is available. What is order processing?

Inventory Management Software 52

Inventory Management Software Analytics Software Supply Chain Design Software Demand Planning Software 52

NC State SCRC

NOVEMBER 2, 2023

Lessons Learned from a Career in Procurement As part of our weekly Supply Chain Leadership, I interviewed Howard Richman, who I am co-authoring a new book with (“Procurement Confidential”). At Mars, procurement (commercial as it was called) was one of the most highly regarded of the professions.

Procurement Analytics 52

Procurement Analytics Negotiating Skills Manufacturing Procurement Optimal Sourcing 52