Jaggaer

MARCH 24, 2025

With numerous options available across the source-to-pay spectrum, weve compiled the top three key technologies CPOs should embrace in 2025: 1. These procurement technologies empower teams to move beyond traditional methods, using data-driven insights for smarter sourcing, demand forecasting, and risk management.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Negotiating Skills 52

Precoro

DECEMBER 11, 2023

To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing. Strategic sourcing is a holistic approach to supply chain management that includes tactics for optimizing the total cost of ownership, improving supplier relationships, and ensuring long-term value creation.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

Precoro

DECEMBER 24, 2024

Unlike traditional tools that often operate in isolation or rely on rigid workflows, AI connects the dots between disparate data sources, providing a more comprehensive view of procurement activities. It’s especially useful in procurement when dealing with unstructured data, such as emails, contracts, and other supplier communications.

Price Reduction 105

Price Reduction Sourcing Strategies Cost Reduction Strategies Expense Reduction 105

SCMDOJO

FEBRUARY 26, 2025

The Cost Performance Index (CPI) is a financial efficiency metric used to measure cost performance in projects and operational activities. indicates cost inefficiency, signaling a need for supplier negotiations or alternative sourcing strategies. Example: A supplier was expected to deliver components worth $500,000.

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

ivalua

JULY 8, 2025

Choosing the right Source-to-Pay (S2P) tools can be overwhelming. Key Takeaways Source-to-Pay platforms provide end-to-end visibility and control, helping organizations streamline procurement, reduce risk, and drive strategic value across the procurement lifecycle. Together these benefits make a strong case for Source-to-Pay software.

Procurement Solutions 130

Procurement Solutions Optimal Sourcing Analytics Software Forecasting Software 130

SCMDOJO

OCTOBER 7, 2024

The holistic approach requires that accentuates the role of Cost Efficiency vs Cost Effectiveness in every aspect of the supply chain, from planning, sourcing, and operations, to logistics and distribution. Cost and profitability are the vital component of any successful business.

Sourcing Strategies 92

Sourcing Strategies Negotiating Skills Cost Reduction Strategies Optimal Sourcing 92

ShipBob

DECEMBER 28, 2022

Where you get these from, or how you source them, can be a huge decision. Sourcing can seem overwhelming if you’re a brand or retail buyer not entirely sure what you’re doing, but it can significantly impact the quality, cost, and availability of your products. What is strategic sourcing? What is procurement?

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

Precoro

JUNE 3, 2025

Therefore, traditional sourcing is often reactive: a procurement manager reviews a purchase request , finds a supplier, negotiates terms, and moves on. Then, create and carry out a specific category strategy through sourcing and contract management. It’s tactical and short-term.

Manufacturing Procurement 45

Manufacturing Procurement Procurement Analytics Procurement Solutions Material Savings 45

Unleashed

JANUARY 4, 2024

Product sourcing, done the right way, can set your business up with the foundations needed for achieving maximum sales. This guide will explain how product sourcing works in modern business, best practices for finding suppliers, and list some of the most popular websites and tools for sourcing goods to sell.

Purchasing Skills 52

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 52

SCMDOJO

MARCH 19, 2024

This data can be used to identify areas for improvement and make informed decisions about sourcing, production, and distribution. Procurement Procurement involves sourcing and acquiring the materials or products needed for production. Analyze performance metrics and implement improvements to enhance efficiency. Grab yours now!

Optimal Sourcing 98

Optimal Sourcing Supply Chain Planning Software Negotiating Skills Material Savings 98

Precoro

MARCH 27, 2025

Achieved through strategies like long-term contracts and improved supplier negotiations. Both contribute to overall sourcing cost savings. Renegotiate Supplier Agreements The Hackett Group 2024 Procurement Key Issues Report reveals that procurement teams aim for a 5% to 10% cost cut through supplier negotiations.

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Expense Reduction Vendor Strategies 45

SCMDOJO

JULY 3, 2023

Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management. Throughout this course, you will gain valuable knowledge and practical insights on various aspects of the sourcing process in procurement.

Purchasing Training 98

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 98

SCMDOJO

DECEMBER 11, 2023

Through detailed analysis of procurement processes, expenditures, and supplier negotiations, organizations can identify opportunities for cost reduction. This may involve negotiating better terms with suppliers, consolidating purchasing volumes, or identifying more cost-effective alternatives, ultimately leading to significant savings.

Procurement Analytics 21

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 21

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. Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships.

Supply Chain Planning Software 98

Supply Chain Planning Software Optimal Sourcing Supply Chain Design Software Supply Chain Software 98

EC Sourcing Group

MAY 17, 2023

By classifying goods and services into logical groups, procurement professionals can streamline the eSourcing process, facilitating easier identification and comparison of suppliers, negotiating favorable contracts, and expediting the sourcing cycle. Want to learn more?

Optimal Sourcing 52

Optimal Sourcing Negotiating Skills Negotiate Pricing Sourcing Strategies 52

Precoro

JULY 9, 2025

If you don’t make an effort to make vendor relations more strategic, you’ll lose out on better deals from negotiations, early access to materials, and priority delivery.    Sourcing transformation often involves expanding the supplier network to make your supply chain more dependable.

Procurement Solutions 45

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Planning Software 45

Unleashed

JUNE 8, 2023

Procurement is the process of sourcing suppliers , negotiating sales terms, and purchasing the goods a company needs to run its daily operations. Supply Chain Dive Procurement managers, sometimes called supply chain managers , develop and manage the contracts between the business they’re procuring for and its suppliers.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

Supply Chain Game Changer

JULY 16, 2019

From one company to the next, from one industry to the next, and certainly from one individual to the next, Suppliers are viewed and managed differently. At its most basic level Suppliers are considered transactional. Companies find suppliers, negotiate prices and terms, place purchase orders and Suppliers fill those orders.

Negotiating Skills 74

Negotiating Skills Negotiate Pricing Procurement Analytics Purchasing Skills 74

Claritum

NOVEMBER 28, 2016

source: (1 page infographic) AccentureOperations , High Performance Procurement (2015). source: (p2) Deloitte – The Deloitte Global CPO Survey 2016. CPO’s will continue their focus on generating value through traditional levers over the next 12 months: source: (p7) Deloitte – The Deloitte Global CPO Survey 2016.

Optimal Sourcing 50

Optimal Sourcing Cost Reduction Strategies Vendor Strategies Procurement 50

HICX Solutions

JUNE 9, 2025

AI can enhance supplier relationship management by enabling better communication and collaboration. Organizations will increasingly use AI to continuously monitor supplier performance through key metrics such as delivery times, quality standards, and compliance rates. This eliminates errors common in manual qualification steps.

Optimal Sourcing 40

Optimal Sourcing Negotiate Pricing Negotiating Skills Supplier Management 40

OptiProERP

MAY 18, 2023

Procurement is acquiring goods, services, or works from an external source. It involves sourcing, negotiation, ordering, delivery, and payment for goods or services. So what is procurement? Goods procurement involves the acquisition of physical products or materials necessary for the operation of a business or organization.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Precoro

MAY 22, 2023

IT team members are aware of the requirements necessary for a technology to function properly, whereas procurement professionals are skilled at contract sourcing and negotiation. These may include business licenses, security certifications, regulatory compliance regulations, sustainable sourcing reports, and more.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Unleashed

AUGUST 28, 2023

The cost of sales is an inventory accounting metric that measures the accumulated costs in getting finished goods to market. The cost of sales metric is most commonly used in the retail and eCommerce industries, whereas manufacturing businesses typically calculate profitability using the cost of goods sold formula instead.

Purchasing Skills 52

Purchasing Skills Negotiating Skills Cost Reduction Strategies Examples 52

Jaggaer

JULY 2, 2020

Supplier negotiation skills are essential for anyone working in procurement. It’s become standard for companies to train their employees on negotiation tactics to get better deals from suppliers, but these skills are also useful outside of the buyer -supplier relationship. Supplier negotiation isn’t easy.

Negotiating Skills 71

Negotiating Skills Purchasing Training Buyer Training Procurement 71

Procurement Academy

MARCH 12, 2024

Together with published data sources and specialist reports, they’ll discover how to master the art of disassembling products into components to calculate each of the key cost areas. Typical examples of common cost-saving opportunities include process improvements, supplier negotiations, and efficiency enhancements.

Optimal Sourcing 69

Optimal Sourcing Negotiating Skills Purchasing Skills Buyer Training 69

Precoro

NOVEMBER 25, 2024

Why procurement reporting matters Simply put, procurement reporting is the process of gathering, organizing, and analyzing data from your sourcing and purchasing activities. They help assess the reliability of suppliers and identify which ones offer the best value. Moreover, standardized reporting builds trust in the data.

Procurement Analytics 105

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 105

Precoro

FEBRUARY 28, 2025

Procurement experts vet suppliers, negotiate agreements, and oversee contract execution. Procurement refers to dealmaking: it helps source vendors, negotiate contracts, and secure the best materials or services for the business. Strategic procurement diversifies supply sources, enhancing project flexibility.

Procurement Analytics 45

Procurement Analytics Procurement Solutions Optimal Sourcing Manufacturing Procurement 45