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?

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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.” Layering CRM and SRM on top of ERP made sales and procurement more efficient but less effective in working with trading partners and serving the organization.

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Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software Procurement Analytics 382

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

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

MARCH 8, 2024

In this blog, we’ll explore some key inventory optimization strategies that can benefit businesses of all sizes and industries. Top 5 Inventory Optimization Strategies Explained Managing inventory efficiently is vital for any business.

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Inventory Reduction Optimal Sourcing Cost Reduction Strategies Resource Reduction 83

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.

Optimal Sourcing 98

Optimal Sourcing Procurement Sustainability Material Savings 98

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!

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Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 83

ivalua

JUNE 11, 2021

Companies are being pressured on all sides to commit to Net Zero and CPOs should build their Net Zero goals by evaluating sustainability metrics into all aspects of their procurement decisions and processes. Now is the time to act, and to engage your supply chain on this important global issue. Sounds interesting? Sign up HERE.

Supplier Management 130

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Supply Chain Shaman

APRIL 9, 2021

This included one-number forecasting, Integrated Business Planning (with tight integration to the budget), labor arbitrage strategies (chasing low-cost labor with extended supply chains), and tax-efficient supply chain strategies. Focus on functional metrics without alignment to a balanced scorecard to drive value. Mistake #3.

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Supply Chain Planning Software Procurement Analytics Supply Chain Performance Manufacturing Procurement 349

Supply Chain Shaman

JANUARY 7, 2015

While Joe is trying to balance the feedback from Filipe and Frank, he is often asked to change his metric targets by his CFO named Lou. After two years of research, I think that we throw the supply chain out of balance and limit its potential through the use of traditional and functional metrics. Achieving Balance in Metrics.

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Metrics Agile and Lean Supply Chain Manufacturing Procurement Modeling 150

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. Risk management. Collaboration with Finance.

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

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.

Procurement Analytics 98

Procurement Analytics Procurement Solutions Optimal Sourcing Procurement 98

Silvon Software

JUNE 23, 2020

As I mentioned in my previous post, Sales Dashboards – 16 Metrics for Manufacturers , a strategy for measuring business performance should also incorporate metrics that focus on the supply chain and other operational areas of the enterprise. You can refine as you go! DSO – Days Sales Outstanding. Past Due Orders.

Manufacturing Procurement 85

Manufacturing Procurement Metrics Gartner Supply Chain Planning Software 85

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. Rationalize global strategies to focus on building markets based on in-market sourcing. Tougher than most understand.

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Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Supply Chain Software 362

Silvon Software

APRIL 18, 2023

While clearly important in today’s constantly changing business environment, so many companies continue to struggle with how to measure and improve their performance – grappling with questions like: Which metrics really matter? Each requires its own portfolio of metrics. Even where the same metrics are used, there are differences.

Inventory Reduction 62

Inventory Reduction Sourcing Strategies Resource Reduction Material Savings 62

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

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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

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 267

Proxima

AUGUST 9, 2023

Public Sector Procurement is complex and must look at aspects beyond price and quality when awarding contracts. Social value, which is the impact that an organisation has on society, is a key factor, and we are proud to have supported several public sector organisations on the development and delivery of their social value strategies.

Procurement 52

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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

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 79

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 79

ivalua

AUGUST 19, 2021

Historically, so much of what Procurement teams did went unnoticed. Of course, over the last few years, the role of Procurement has become more visible, in large part due to broader recognition of the value and closely monitored and tracked performance metrics that are now more mainstream. Here are some of my takeaways.

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Supply Chain Shaman

MARCH 21, 2024

We explore the concept of holistic inventory strategies focused on the form and function of inventory. The class discovers the current blackholes of the supply chain (direct procurement and contract manufacturing. The shift from Inside-out to Outside-in is impossible using a crawl, walk, and run strategy. The So What?

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Inventory Reduction Supply Chain Planning Software Cost Reduction Strategies Supply Chain Design Software 376

Unleashed

OCTOBER 6, 2021

Here we explain how you can do this with 16 cost reduction strategies in inventory management?that Using this strategy improves efficiencies in product delivery, frees up capital and reduces warehousing costs. The benefit of broader exposure is a key reason this strategy is used. It also avoids the need to dip into safety stock.

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Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

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

JUNE 29, 2023

Configure to Order: This strategy involves customizing standard products based on customer specifications. PO Collaboration involves close coordination with suppliers to procure materials based on order specifications, tracking delivery timelines, and aligning production schedules to meet customer delivery expectations.

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Manufacturing Procurement Procurement Analytics Material Savings Inventory Reduction 185

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. Building risk strategy.

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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

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

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.

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Supply Chain Network Software Manufacturing Procurement Procurement Analytics Optimal Sourcing 218

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

Unleashed

DECEMBER 21, 2023

Keep reading to uncover the risks and challenges of inventory management , learn about the types of solutions available, and discover some of the most effective inventory management strategies in modern business. Perpetual inventory software systems enable real-time tracking of key metrics, including your current stock on hand value.

Inventory Reduction 52

Inventory Reduction Inventory Management Software Vendor Strategies Cost Reduction Strategies 52

ivalua

SEPTEMBER 14, 2022

With 30% of respondents indicating their organizations are suffering from an inability to assess risk across suppliers, many are investing in new strategies to minimize the frequency and impact of disruption. Effective supplier management will be agile enough to identify disruption and the impact it will have on suppliers and take action.

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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.

Negotiating Skills 52

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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

Silvon Software

JUNE 1, 2023

Ideally, your S&OP KPIs should consist of a mix of strategic, tactical, and operational metrics. At times, finding the right metrics can feel incredibly challenging, and there might be a tendency to measure things for the sake of measurement. The KPIs here highlight procurement, production, logistics, and customer fulfillment.

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S&OP Supply and Demand Optimal Sourcing Supply Chain Planning Software 92

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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