ivalua

JUNE 9, 2025

Requisitioning and Ordering AI streamlines purchasing by surfacing preferred suppliers and flagging non-compliant requests, reducing rogue spending and ensuring purchases align with negotiated contracts. IVA also simplifies follow-up actions to help improve supplier performance.

Optimal Sourcing

Precoro

DECEMBER 24, 2024

AI can process large amounts of historical supplier performance data across multiple metrics, allowing procurement teams to make more informed, data-driven decisions instead of relying solely on anecdotal evidence or subjective evaluations. Predicting potential supply chain disruptions or supplier performance issues.

Price Reduction

Jaggaer

MARCH 24, 2025

Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supply chain risks. Together, they enable procurement teams to move from reactive to proactive, optimizing sourcing strategies, improving supplier negotiations, and ensuring more accurate, real-time decision-making.

Optimal Sourcing

Jaggaer

FEBRUARY 5, 2025

Secondly come eProcurement, Supply Chain Collaboration, Invoicing, and Payments. Analytics – optimized by artificial intelligence- and automated workflows help businesses identify new sourcing opportunities, adapt to market shifts, and respond to supply chain disruptions more effectively.

Sourcing Strategies

Precoro

JUNE 3, 2025

With today’s growing cost pressures and increasingly complex supply chains , quick fixes no longer cut it. Therefore, traditional sourcing is often reactive: a procurement manager reviews a purchase request , finds a supplier, negotiates terms, and moves on. It’s tactical and short-term.

Manufacturing Procurement

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

Precoro

MARCH 27, 2025

Rising costs, supply chain chaos, and economic swings put businesses under enormous pressure to protect their margins.   Make no mistake: cost avoidance can make a significant difference in your long-term spending and prevent future financial risks, such as inflation or supply chain disruptions.

Cost Reduction Strategies

SCMDOJO

MARCH 19, 2024

In today’s fast-paced business landscape, having an efficient supply chain department is more important than ever. A streamlined supply chain can make a significant impact on the overall success of a business, improving operational efficiency, increasing customer satisfaction, and driving revenue growth.

Optimal Sourcing

Taulia

JUNE 12, 2023

Blog Expert Advice 8 min read 12 Jun 2023 By Taulia Share: Share via linkedin Share via twitter Share via facebook Share via email Copied Copy page URL to clipboard 10 supply chain KPIs and metrics to track We’ve listed the 10 top supply chain KPIs you can use to measure your supply chain performance and find opportunities for optimization.

Procurement Analytics

SCMDOJO

APRIL 29, 2024

Are you interested in understanding how businesses effectively manage their supply chains? Look no further – this guide is here to help you grasp the fundamentals of supply chain management (SCM) and how it can lead to success. It encompasses activities such as procurement, supplier selection, and evaluation.

Supply Chain Planning Software

SCMDOJO

OCTOBER 7, 2024

The Global Supply Chain is thriving with each passing day. However, the game-changer is how Cost Efficiency and Cost Effectiveness play their role in the supply chain. Businesses should adopt a strategic approach and make decisions by considering how cost-effective vs efficient throughout the supply chain.

Sourcing Strategies

Precoro

DECEMBER 11, 2023

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. That includes tracking how well the suppliers perform and if the company's needs are met.

Negotiating Skills

SCMDOJO

JULY 3, 2023

Read More: Top 10 Supply Chain Management Courses to Boost Your Career ] Accreditation and Industry Recognition Check to see if the training programme is acknowledged by the procurement sector or accredited by the relevant professional organizations. Total Cost of Ownership – Post-Covid Supply Chain Realities Lesson 5.

Purchasing Training

Supply Chain Game Changer

JULY 16, 2019

Subscribe to Supply Chain Game Changer. Supplier Relationships – Don’t go over to the Dark Side! Shortly after I joined the Commodity/Category Management Procurement organization I was invited to attend the annual Strategic Supplier Awards event. There were Executives from dozens of Suppliers in attendance.

Negotiating Skills

EC Sourcing Group

MAY 17, 2023

Accurate classification of products, services, and suppliers forms the foundation for improved decision-making, cost optimization, and enhanced supply chain management. Effective Supplier Management: Accurate spend classification is pivotal in managing suppliers efficiently.

Optimal Sourcing

Unleashed

JUNE 8, 2023

This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success. Procurement is the process of sourcing suppliers , negotiating sales terms, and purchasing the goods a company needs to run its daily operations.

Procurement Solutions

Unleashed

MARCH 21, 2021

It is a key part of your company’s supply chain. The procure to pay process is a strategic way of organising a company’s purchasing habits as well as managing supplier relationships. Qualifying suppliers. Choosing your suppliers. Negotiating. Evaluating supplier performance. Creating POs.

Procurement Analytics

HICX Solutions

JUNE 9, 2025

These may include processes related to: Supplier evaluation Supplier onboarding Performance tracking, Supplier risk management Contract analysis By automating repetitive tasks and analyzing large datasets, AI improves efficiency, reduces errors, and enhances decision-making. What is the use of AI in supply chain management?

Optimal Sourcing

Unleashed

JANUARY 4, 2024

The product sourcing process can include: Market research Product research Vendor procurement Price comparison Supplier negotiations Product sourcing acts as the first and most important step in the successful execution of a business’s procurement strategy. Where can you source products from?

Purchasing Skills

Claritum

NOVEMBER 28, 2016

30% Cost control and supplier negotiations. Supply chain and logistics constitute almost £3 trillion in “value at stake: the combination of increased costs that [as a result of digital innovations] will migrate among companies and industries from 2013 to 2022. Shared leadership and metrics, but emerging integration.

Optimal Sourcing

ShipBob

DECEMBER 28, 2022

Strategic sourcing is often considered the first step in setting up a successful supply chain. Additionally, consider the different types of sourcing that fall within the supply chain and how they relate to your business goals. Stronger supply chain risk management. Why is sourcing important?

Sourcing Strategies

OptiProERP

MAY 18, 2023

The procurement process can be complex, involving various steps such as identifying the need for the goods, researching potential suppliers, negotiating contracts, and managing inventory. It also helps establish a more robust supply chain and uses procurement management best practices.

Optimal Sourcing

Precoro

MAY 22, 2023

Strong companies depend on a range of hardware and software solutions to support key business processes like customer service, financial management, and supply chain operations. In today’s fast-paced corporate world, it's difficult to overstate the significant role that technology plays in the success of many organizations.

Procurement Solutions

Unleashed

AUGUST 28, 2023

The cost of sales is an inventory accounting metric that measures the accumulated costs in getting finished goods to market. Cost of sales is the accrued total of all the costs of supplying a product. Scrutinize all areas of your supply chain to identify instances of waste. What is cost of sales?

Purchasing Skills

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

Precoro

NOVEMBER 25, 2024

In addition, procurement teams can use procurement analytics dashboards to track contract adherence, verify that orders match the agreed-upon terms, and ensure that suppliers meet regulatory standards. They help assess the reliability of suppliers and identify which ones offer the best value. What is a procurement dashboard?

Procurement Analytics

Precoro

FEBRUARY 28, 2025

Procurement experts vet suppliers, negotiate agreements, and oversee contract execution. These strategic connections yield better service and negotiating power. Procurement teams transform purchasing into a competitive advantage by analyzing response time and quality consistency metrics. Ensured  Compliance.

Procurement Analytics