SYSPRO Smarter ERP

MARCH 2, 2022

To deal with the new challenges in managing and planning the supply chain , the procurement department is one of the functions that should look at changing. It is no longer sufficient for procurement to focus just on supplier costs, placing orders and ensuring goods are received. The situation changes with a larger number of suppliers.

Optimal Sourcing 116

Optimal Sourcing Manufacturing Procurement Supply Chain Planning Software Supply Chain Software 116

Supply Chain Game Changer

JULY 14, 2021

Featuring Our 12 Best Procurement Articles! Procurement and Sustainability are your business’ Yin and Yang. Procurement and Sustainability are two disciplines and business functions that exist in a perfectly harmonious contradiction. Procurement is fundamentally centered around the act of acquisition and/or buying.

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Optimal Sourcing Procurement Sustainability Material Savings 98

Logistics Bureau

AUGUST 2, 2021

On this blog and the one published by our sister company Logistics Bureau, we often receive questions relating to metrics suitable for monitoring procurement performance. To answer some of those inquiries, we decided to release the following brief overview of what we believe to be the most helpful procurement KPIs.

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Procurement Analytics Procurement Solutions Optimal Sourcing Procurement 98

Supply Chain Shaman

APRIL 18, 2023

For organizations layered in functional metrics and driving a cost agenda, this is a tough nut to crack. In the face of variability, this is two-to-six weeks too long to make allocation or procurement decisions. A planning master data layer measures and tracks shifts in lead times, conversion rates, and quality. Shift in cycles.

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Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Supply Chain Software 374

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

Precoro

JULY 16, 2023

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. We have selected 5 fundamental KPIs that purchasing managers should consider.

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Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

GlobalTranz

APRIL 25, 2016

3 Key Metrics for Measuring Supply Chain Performance Beyond Cost Reduction. Inventory measurement is critical and it is money after all in that it took a capital expense to procure. 10 Soft Metric Considerations in Measuring Supply Chain Performance. The goal is to keep inventory levels at a minimum to meet customer needs.

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Procurement Analytics Supply Chain Performance Metrics Supply Chain Software 120

Supply Chain Shaman

FEBRUARY 18, 2021

Initially, the output was published to procurement to design strategic buying strategies. Procurement became an island–isolated from the demand signal except for MRP. Watermelon Metrics Don’t Drive The Right Results. I love the metaphor of watermelon metrics. What are functional metrics?

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Supply Chain Planning Software Supply Chain Design Software Supply and Demand Procurement Analytics 278

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.

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Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

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.

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Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

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?

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Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 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?

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Procurement Analytics Procurement Solutions Optimal Sourcing Purchasing Skills 52

Precoro

DECEMBER 11, 2023

As part of the larger procurement process, sourcing involves finding and evaluating suppliers for goods or services that need to be purchased. Strategic sourcing involves the meticulous evaluation of suppliers and the overall procurement process to extract maximum value from both. Create a purchasing process.

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Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

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.

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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.

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Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 52

Proxima

AUGUST 9, 2023

Public Sector Procurement is complex and must look at aspects beyond price and quality when awarding contracts. Below we outline some of our key learnings and how we’ve seen social value being effectively embedded into public sector procurement processes.

Procurement 52

Procurement Resource Reduction Supply Chain Design Software How To 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?

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Procurement Analytics Metrics Retail Inventory Reduction 52

Logistics Viewpoints

OCTOBER 12, 2023

While working on this at Walmart, we created a hypothesis: if highly perishable produce is moved through a supply chain faster, it will improve the customer freshness perspective because the produce will be of a higher quality. The same “If” statement was repeated for a host of financial and operational metrics.

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

ThroughPut

SEPTEMBER 18, 2020

As a plant manager involved in strategic operational decisions for manufacturing or supply-chain management , your primary focus would always be on ensuring that the final output of your plant is in compliance with internal and external quality standards. Even if available, how sure are you of the accuracy of these metrics?

Quality 52

Quality Manufacturing Procurement Real-time Visibility Optimal Sourcing 52

SCMDOJO

FEBRUARY 29, 2024

Your supplier may charge you an agreed-upon price, but if the service is unmarked or the merchandise is of poor quality, you won’t be able to meet your savings goals. Most companies rely on on-time delivery, price reduction, and quality service from suppliers to make more profit. What metrics do others (in my industry) use?

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Vendor Strategies Resource Reduction Price Reduction Procurement Analytics 55

ivalua

MARCH 24, 2021

The role that procurement plays in manufacturing organizations is a difficult one. This function must simultaneously balance cost reduction, quality, and assurance of supply in their quest to maximize profits. . Procurement needs digitization at its core to enable automation, efficiency, and innovation within the supply chain.

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Manufacturing Procurement Supply Chain Design Software Supply Chain Software Optimal Sourcing 130

Synovos

FEBRUARY 21, 2023

Improve Operational Efficiency and Eliminate Internal Complexity Through Digital Procurement From better spend visibility to reduced order times and more, can your organization afford to miss out on the benefits of digital procurement? “Any good procurement team needs access to reliable data.”

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Optimal Sourcing Sourcing Strategies Procurement Analytics Cost Reduction Strategies 52

Logility

AUGUST 15, 2023

The average volume, rising expenditures, and varying price arrangements for each item across multiple suppliers further complicate the procurement landscape. Compliance spans various dimensions such as environmental sustainability, quality, and security.

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Supply Chain Planning Software Supply Chain Planning Scenario Planning Modeling 130

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.

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Optimal Sourcing Procurement Solutions Procurement Analytics Procurement 110

Silvon Software

SEPTEMBER 26, 2023

Fortunately, modern analytic tools like Silvon’s Stratum solution offer pre-defined metrics and data visualization capabilities to simplify the process of creating and sharing KPI dashboards and reports to management and departmental teams throughout the business.

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Procurement Analytics Optimal Sourcing Manufacturing Procurement Inventory Reduction 94

The Logistics of Logistics

FEBRUARY 11, 2022

OTIF is a key supply chain metric. Starting his career in carrier procurement and management within a Fortune 100 logistics company, Lynch has held positions of responsibility in all areas of?third-party?logistics. Andrew Lynch and Joe Lynch discuss the true cost of OTIF failure. About Andrew Lynch. third-party?logistics.

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Cost Reduction Strategies North America Logistics Network Optimization Software Manufacturing Procurement 206

Supply Chain Game Changer

NOVEMBER 23, 2018

If we can draw a comparison between Thanksgiving dinners and procurement, they are essentially an every day example of why supplier quality management is important. A quality fit can help a procurement team create top-line growth and customer satisfaction. Quality will cost. Standardize Quality Indicators .

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Quality Cost Reduction Strategies Resource Reduction Vendor Strategies 42

NC State SCRC

JULY 27, 2021

I recently spoke at the National Contract Management Association on the subject of human capital in supply chains , and the need for building leadership skills in our procurement and supply chain professionals. ” The study finds that that successful companies: link performance metrics to broader strategic goals.

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Negotiating Skills Optimal Sourcing Procurement Negotiate Pricing 52

GlobalTranz

OCTOBER 16, 2015

, 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.

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Negotiating Skills Price Reduction Cost Reduction Strategies Optimal Sourcing 120

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

The Logistics & Supply Chain Management Society

AUGUST 14, 2023

Breaking Boundaries: Exploring Generative AI’s Impact on Supply Chains Supply chains encompass many interconnected activities, from procurement, production, and inventory management, to logistics and distribution. Data Quality and Quantity: To create effective generative AI, high-quality training data is necessary.

Optimal Sourcing 244

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

OptiProERP

APRIL 9, 2024

Collaboration between production, procurement, and logistics teams is essential to optimize resource utilization and minimize lead times. Quality control measures are integrated at various checkpoints to ensure compliance with specifications and standards.

Optimal Sourcing 52

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

Supply Chain Shaman

JANUARY 31, 2022

The Chief Financial Officer gained more presence with procurement and IT reporting to finance. As a result, focusing on cost and efficiency, and functional metrics throws the supply chain out of balance. Instead, most companies manage based on functional metrics—lowest manufacturing, procurement, or transportation costs.

Procurement Analytics 217

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 217

Supply Chain Shaman

SEPTEMBER 3, 2018

According to my research, top-performing supply chains possess three very different qualities. A supply chain that produces products at the same cost, quality and customer service given the level of demand and supply volatility. Reward teams for cross-functional metrics. Focus functional metrics to improving reliability.

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Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 311

Elementum

FEBRUARY 7, 2024

Procurement: Automated Procurement Processes AI enhances procurement by automating supplier selection, contract management, and purchase order processing. This not only speeds up procurement cycles but also ensures compliance and optimizes costs through intelligent vendor evaluation and selection.

Sourcing Strategies 78

Sourcing Strategies Supply Chain Software Optimal Sourcing Predictive Analytics Software 78

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

Cost Reduction Strategies Supply Chain Planning Software GEP Supply Chain Network Software 211

Supply Chain Shaman

FEBRUARY 7, 2022

The Chief Financial Officer gained more presence with procurement and IT reporting to finance. As a result, focusing on cost and efficiency, and functional metrics throws the supply chain out of balance. Instead, most companies manage based on functional metrics—lowest manufacturing, procurement, or transportation costs.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 195