SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started? Do not worry!

Purchasing Training 78

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 78

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?

Supply Chain Planning Software 278

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

Supply Chain Shaman

SEPTEMBER 28, 2022

Navigating through the turmoil is unprecedented: there are no easy reference models to guide behavior. In this volatile world, efficient procurement led by a CFO is not the answer. Companies driven by functional metrics struggled: they could not adapt quickly to the higher transportation costs.). What is the issue? Conclusion.

Manufacturing Procurement 195

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

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

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. What is a retail KPI?

Procurement Analytics 52

Procurement Analytics Metrics Retail Inventory Reduction 52

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

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

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

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.

Pricing Training 98

Pricing Training Purchasing Skills Procurement Analytics Purchasing Training 98

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.

Negotiating Skills 120

Negotiating Skills Price Reduction Cost Reduction Strategies Optimal Sourcing 120

Logility

AUGUST 25, 2020

Every company today runs on data – the key to using your data is choosing the right metrics for visibility into your supply chain. While Key Performance Indicators (KPIs) may be reviewed quarterly or monthly, the speed with which supply chain operations occur makes a daily view of more tactical and operational metrics a growing necessity.

Supply Chain Planning Software 173

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 173

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

ivalua

JULY 15, 2021

With this mounting pressure to commit to Net Zero and CPOs goals and incorporate sustainability metrics into all aspects of procurement decisions and processes, businesses are looking to elevate ESG strategies with a mind for climate change, ethical social practices and stronger governance models.

Material Savings 130

Material Savings Sourcing Strategies Supply Chain Strategy Sustainability 130

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

EcoVadis

MAY 31, 2018

Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric. Sustainable procurement is one of the four themes of our assessment; it has its own theme score and is included in the overall rating.

Procurement Analytics 68

Procurement Analytics Metrics Sustainability Optimal Sourcing 68

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. These activities involve numerous stakeholders, such as suppliers, manufacturers, distributors, and retailers.

Optimal Sourcing 244

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Modeling 244

Unleashed

OCTOBER 16, 2023

Raw material inventory management oversees the procurement, handling, and storage of raw materials. Examples of raw material inventory Raw material inventory refers to the materials and ingredients used in manufacturing and production. 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

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

Supply Chain Shaman

FEBRUARY 14, 2022

Organizations can align to drive value despite the allegiance to functional metrics. As long as companies are motivated by functional metrics, inventory management will be an enigma. When companies reward OEE in manufacturing and POV in procurement, companies will systemically make the wrong stuff. Mistake #5. Measurement.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

EC Sourcing Group

MARCH 12, 2023

A supplier scorecard is the result of supplier analysis based on a set of key performance indicators and metrics. Steps for building a supplier scorecard: Focus on the purpose of the scorecard by recognizing and determining the right measures and metrics, or, your KPI’s.

Procurement Analytics 52

Procurement Analytics Purchasing Skills Procurement Solutions Supply Chain Planning Software 52

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

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 16

Unleashed

AUGUST 20, 2023

In manufacturing, for example, lead time refers to the amount of time it takes for a product to move through the entire production process , from when the initial order or request was made to the final delivery. Lead time is a vital business metric that directly impacts customer satisfaction, workflow efficiency, and delivery time accuracy.

Manufacturing Procurement 52

Manufacturing Procurement Inventory Reduction Sourcing Strategies Procurement Analytics 52

NC State SCRC

SEPTEMBER 15, 2017

RACI stands for Responsible, Accountable, Consulted, and Informed – which refers to the relative governance structure that exists in an organizational relationship. What is the organizational hierarchy in procurement – category manager for the category, director of sourcing (transportation and related services), buyers, and CPO?

Optimal Sourcing 40

Optimal Sourcing Negotiating Skills Procurement Sourcing Strategies 40

NC State SCRC

JUNE 27, 2017

In my earlier book with Gerard Chick on “ The Procurement Value Proposition “, we advance the notion that buildoing a business case for investing in people, process, and technology improvement in procurement is key. This is effectively a “snapshot” in time. and “What is the potential return on investment?”

Manufacturing Procurement 40

Manufacturing Procurement Procurement Analytics Optimal Sourcing Procurement 40

Unleashed

APRIL 21, 2024

Order processing refers to both the physical and digital aspects of ensuring a customer’s order is fulfilled on time and accurately. Purchase order processing Purchase order processing is a component of procurement that ensures that goods or services are acquired efficiently and effectively.

Inventory Management Software 52

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

Supply Chain View from the Field

APRIL 10, 2013

At the Coupa INSPIRE procurement conference in San Francisco this week, the Chief Procurement Officer of Coca Cola Consolidated, Patrick Hopkins, shared his views on the “4 Truths of Procurement”, and how he has operationalized his views through the deployment of Coupa procure to pay software. Data must be right.

Procurement 83

Procurement Material Savings San Francisco SAP 83

Supply Chain Opz

MARCH 31, 2015

After that, we collect various metrics of each purchasing book as below, - Citation counts: a basic bibliometric method showing how many times a book is cited by other publications. Of course, this metric will not be used in isolation. Rudzki and Robert J. Monczka, Robert B. van Weele 6) Purchasing and Supply Management by P.

Procurement Analytics 100

Procurement Analytics Purchasing Skills Eliminating Excel in Purchasing Negotiating Skills 100

Procurement Academy

OCTOBER 2, 2023

In specialist industries, like supply chain or procurement, this task is even more crucial. They should have a readily available list of references that demonstrates their quality. For example, at Skill Dynamics, we can track each learner’s progression, satisfaction, and developing competence, among many other metrics.

Buyer Training 52

Buyer Training Training Price Mitigation Strategies Supply Chain Planning Software 52

QAD

FEBRUARY 7, 2023

Not to be confused with supplier risk management, supplier relationship management refers more to effectively managing supplier relationships to achieve better business outcomes. This requires establishing KPIs and specific metrics of success to assess performance against.

Price Reduction 98

Price Reduction Material Savings Vendor Strategies Inventory Reduction 98

QAD

AUGUST 12, 2021

Sustainable manufacturing refers to the ability to manage manufacturing operations “in an environmentally and socially responsible manner,” according to the Organization for Economic Cooperation and Development. In other examples, you’ll find ERP provides the necessary insights and metrics, like OEE , to enhance production execution.

Waste Reduction 98

Waste Reduction Resource Reduction Material Savings Inventory Reduction 98

SCMDOJO

DECEMBER 14, 2023

In supply chain management, total lead time is a crucial metric encompassing the period from customer order to delivery, be it in B2B or B2C scenarios. Procurement Lead Time: Efficient procurement lead time ensures timely access to raw materials, a fundamental step toward efficient production. Q: Why is it called lead time?

Inventory Reduction 75

Inventory Reduction Vendor Strategies Waste Reduction Cost Reduction Strategies 75

Supply Chain Game Changer

SEPTEMBER 15, 2020

Manage Procurement Spend Like It’s Your Own Business! Specifically in the area of Procurement there has been a history associated with attempts to direct spending toward diversity owned businesses. The general reaction I recall getting from the Procurement community at the time was less than aggressive. Conclusion.

Procurement 81

Procurement Supply and Demand Resource Reduction Just-in-Time 81

SCMDOJO

MARCH 8, 2024

Reduction of Minimum Order Quantity (MOQ): MOQ refers to the minimum quantity of a product that a supplier is willing to sell. Lead Time Reduction: Lead time refers to the time it takes for an order to be fulfilled from the moment it is placed. Optimize the process where required based on feedback and performance.

Inventory Reduction 79

Inventory Reduction Optimal Sourcing Resource Reduction Cost Reduction Strategies 79

ThroughPut

SEPTEMBER 10, 2021

Supply chain material flow is monitored across the stages of Planning , Procuring, Producing, Delivering, and Returning. Data procured through real-time metrics can drive up sales , bring down wastages and lead to a robust supply chain. Regulate supply chain material flow. Quality Control.

Optimal Sourcing 52

Optimal Sourcing Supply Chain Optimization Optimization Software Supply Chain Planning Software 52

Supply Chain Shaman

JUNE 6, 2013

Closing the gaps happens when there are aligned metrics, clarity of vision and aligned planning processes. They also are clear that the supply chain is defined outside-in based on the channel requirements and the underlying rhythms and cycles of fulfillment, manufacturing and procurement. Metrics Alignment. They lack cohesion.

Supply Chain Planning Software 278

Supply Chain Planning Software Supply Chain Planning Optimal Sourcing Scenario Planning 278

Unleashed

MARCH 31, 2021

However, when people refer to supply chains, they often use the terms ‘supply chain’ and ‘logistics’ interchangeably. When we refer to the ‘supply chain’, we’re referring to the network of suppliers, manufacturers, producers, shipping companies and more who, when combined, produce, ship and sell products and services to end-users.

Supply Chain Planning Software 69

Supply Chain Planning Software Logistics Network Optimization Software Supply Chain Software Agile and Lean Supply Chain 69

Supply Chain View from the Field

NOVEMBER 12, 2014

I was in Houston yesterday evening, speaking to a large group of procurement executives at a roundtable held by KPMG’s Procurement Advisory Group, at the fabulous Brennan’s restaurant on Smith Street. However, with the price of oil down in the $70′s, I did sense a bit of uneasiness in the air.

Procurement Analytics 102

Procurement Analytics Procurement Solutions El Paso Houston 102