Precoro

SEPTEMBER 6, 2021

This month, we continue our Procurement Basics series and would like to introduce our readers to yet another set of often misused business terminology. As both sourcing and procurement are related to obtaining supplies for the organization, confusing these two terms is easy. Procurement. Builds supply channels and systems.

Optimal Sourcing 97

Optimal Sourcing Manufacturing Procurement Purchasing Skills Procurement Solutions 97

SCMDOJO

FEBRUARY 13, 2023

The procurement department is an integral part of any organization, playing a crucial role in the purchasing process. To get the most out of any procurement team, all the associated key roles need to be filled with qualified individuals that understand both technology and the principles of supply chain management.

Negotiating Skills 87

Negotiating Skills Purchasing Skills Negotiate Pricing Procurement Analytics 87

Logistics Viewpoints

DECEMBER 14, 2021

Now he shops across all the apps he has on his smartphone and chooses the one he thinks has the best quality for the least price on that day. To keep customers like my dad satisfied, RGD and Quick-commerce companies need to invest in new technologies to optimize the supply chain and logistics operations. Route Optimization.

Supply Chain Planning Software 195

Supply Chain Planning Software Forecasting Software Supply Chain Design Software Optimization Software 195

My Office Apps

JANUARY 16, 2024

Start Your Year with Cloud-Based ERP: The Ultimate Guide to Operational Excellence Begin your year on a transformative note by embracing the power of Cloud-Based Enterprise Resource Planning (ERP) systems. Cost-Efficiency: Operates on a subscription model, reducing upfront costs and handling maintenance, updates, and security.

Optimal Sourcing 84

Optimal Sourcing Eliminating Excel in Purchasing Manufacturing Procurement Procurement Analytics 84

Supply Chain Shaman

JANUARY 31, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Current technologies and processes focus on volume trade-offs. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. A Decline in Innovation.

Procurement Analytics 221

Procurement Analytics Manufacturing Procurement Supply Chain Planning Software Sourcing Strategies 221

Elementum

FEBRUARY 7, 2024

AI-driven systems improve understanding and management of workflows. Defining Business Process Automation Business Process Automation (BPA) involves the utilization of technology to execute recurring tasks within an organization’s operations. Businesses gain agility and can focus human resources on strategic work.

Sourcing Strategies 78

Sourcing Strategies Supply Chain Software Optimal Sourcing Predictive Analytics Software 78

ThroughPut

FEBRUARY 2, 2024

is advanced supply chain analytics. Advanced supply chain analytics is turning the current uncertainty into strategic foresight. This technology sifts through complex data to forecast potential disruptions and market trends, allowing companies to plan ahead instead of reacting in the moment.

Prescriptive Analytics Software 52

Prescriptive Analytics Software Analytics Software Supply Chain Planning Software Predictive Analytics 52

Supply Chain Shaman

FEBRUARY 7, 2022

Companies that viewed the pandemic as another risk management event will struggle the most with Q1 and Q2 earnings reports. Current technologies and processes focus on volume trade-offs. The Chief Financial Officer gained more presence with procurement and IT reporting to finance. A Decline in Innovation.

Procurement Analytics 195

Procurement Analytics Manufacturing Procurement Sourcing Strategies Optimal Sourcing 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

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.

Optimal Sourcing 110

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.

Procurement Analytics 105

Procurement Analytics Optimal Sourcing Manufacturing Procurement Inventory Reduction 105

Supply Chain Shaman

FEBRUARY 14, 2022

I wrote my first report on Sales and Operations Planning (S&OP) while sitting on the floor in the Atlanta airport in 2005 when I was an AMR Research analyst. I wrote many reports on airport floors in those days–electrical plugs were just too scarce.) Sales and Operations Maturity Model from 2005-2008. Let me explain.

S&OP 195

S&OP Supply and Demand Procurement Analytics Manufacturing Procurement 195

Supply Chain Shaman

JULY 30, 2022

However, two decades later, there is still no technology solution to enable demand visibility or help companies use channel data to translate demand into an inventory, replenishment, or manufacturing strategy. End-to-End Definition Implementation of enterprise data architectures to improve order-to-cash and procure-to-pay. The reason?

Supply Chain Design Software 195

Supply Chain Design Software Supply and Demand Supply Chain Planning Software Data 195

Logistics Viewpoints

MAY 19, 2022

Containerization eventually reduced shipping and loading costs by at least 75%. The trade with Asia we take for granted today was only possible by mitigating a significant supply chain trade-off – reducing costs without appreciable impacts to quality and service. The myth of the “perfect plan”.

Optimal Sourcing 232

Optimal Sourcing Modeling Supply Chain Optimization Optimization Software 232

ivalua

MAY 30, 2023

Ivalua Spend Management Insights [ivory-search] 3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation May 30, 2023 | | Procurement Strategy by Sara Omer What is the Saudi Vision 2030 Program? Procurement and supply chain teams will play a crucial role in making this vision a reality.

Manufacturing Procurement 49

Manufacturing Procurement Procurement Solutions Resource Reduction Price Reduction 49

QAD

MAY 23, 2023

The International Labor Organization reports that 27.6 ESG Regulations are Driving Investment in Sustainable Procurement Regardless of where you stand on the ethics behind ESG issues, you’d think consumer demand would be a clear driver for sustainable product development.

Procurement Solutions 91

Procurement Solutions Supply Chain Planning Software Supplier Management Modeling Software 91

AIMMS

OCTOBER 17, 2023

According to a Proxima report “Investing in a Sustainable Supply Chain,” there has been a significant change in the priorities of investors. Efficient inventory management Demand Forecasting: Use demand analytics to predict demand more accurately, thus reducing overstocking or stockouts.

Optimal Sourcing 156

Optimal Sourcing Supply Chain Planning Software Modeling Waste Reduction 156

Logility

APRIL 21, 2020

In fact, demand forecasts are used throughout the supply chain including supply chain design, purchasing, operations, inventory, and sales and marketing. Value-add forecasting is one way companies are now realizing incremental improvements in their forecast quality and reliability. Uncovering hidden opportunities. Price optimization.

Forecasting 157

Forecasting Optimal Sourcing Forecasting Software Modeling 157

Synovos

FEBRUARY 21, 2023

Importance of Supplier Relationships in Indirect Procurement Challenging times call for closer relationships between organizations and their MRO suppliers Strong and successful indirect procurement strategies depend on strong and successful supplier relationships. Indirect procurement can be somewhat hidden, though.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Procurement 52

The Logistics & Supply Chain Management Society

APRIL 26, 2022

Brand loyalty is no longer the driver for consumer purchasing decisions. People simply want to purchase products from businesses which provide a more transparent and streamlined service, and who deliver on their customer promise, even if it means inflated prices to obtain it. AI WILL FACILITATE AGILE AND RESILIENT DECISION-MAKING.

Supply Chain Planning Software 246

Supply Chain Planning Software Supply Chain Design Software Agile and Lean Supply Chain Supply Chain Software 246

SCMDOJO

JUNE 6, 2023

Supply chain optimization can achieve this with the help of data analytics. Data analytics helps businesses make data-driven decisions and initiatives. How does data analytics help supply chain optimization? Let’s explore the roles which data analytics play in this process. Why is it crucial?

Optimal Sourcing 72

Optimal Sourcing Modeling Supply Chain Optimization Analytics Software 72

Supply Chain Game Changer

NOVEMBER 15, 2018

Procurement professionals have the same question looming over their head on a daily basis: “How do you plan on dealing with digitalization?”. Recently I had the pleasure of attending EBG Network’s 8th Annual Source to Pay Summit, which gathered some of the Nordic’s largest organizations and procurement profiles.

Procurement Solutions 53

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Planning Software 53

Unleashed

AUGUST 17, 2021

There is a range of manufacturing software now available to help businesses streamline their processes and maximise efficiency. Here we look at 15 types of manufacturing software, and for each answer three questions: What are the main functions of this software? What type of business is this software suited to?

Inventory Management Software 97

Inventory Management Software Manufacturing Procurement Supply Chain Design Software Supply Chain Planning Software 97

NC State SCRC

JULY 5, 2019

Procurement analytics, which supports decision making in procurement management, typically handles problems and decisions that are related to cost reduction, supplier management, cost modeling, procurement-led innovation, market strategies, supply chain risk, and stakeholder value improvement (Handfield, Jeong, and Choi 2019).

Procurement Analytics 40

Procurement Analytics Optimal Sourcing Analytics Software Procurement Solutions 40

Precoro

MARCH 11, 2024

However, certain healthcare delivery models don’t always prioritize these vital aspects, especially considering the ever-increasing costs of healthcare services. Yet there’s a proactive approach that addresses the high cost of healthcare: value-based purchasing (VBP).

Procurement Analytics 105

Procurement Analytics Procurement Solutions Purchasing Training Purchasing Skills 105

SYSPRO Smarter ERP

JULY 3, 2023

It is estimated by McKinsey that 40% of the potential value that could be created from analytics comes using ML techniques, However, many business leaders are unsure where to apply ML to reap the greatest rewards. Having an ERP system in place can be a major advantage when considering how and where to start an AI/ML project.

Manufacturing Procurement 98

Manufacturing Procurement Optimal Sourcing Manufacturing Data 98

Supply Chain Game Changer

NOVEMBER 22, 2018

Check out What is Virtual Procurement and Why Should You Care? Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? Secondarily, we will include information from other procurement professionals and procurement firms about their experiences, what they forecast, and what they are seeing.

Manufacturing Procurement 63

Manufacturing Procurement Procurement Solutions Optimal Sourcing Procurement Analytics 63

SYSPRO Smarter ERP

SEPTEMBER 8, 2021

A recent report The Fictiv 2021 State of Manufacturing report has shown that many companies are in the process of becoming more digitally proficient and organized. It may be difficult to decide how to spend a limited budget on new digital technology. It ties into the ERP system where quotes and purchase orders are managed.

Supply Chain Planning Software 115

Supply Chain Planning Software Supply Chain Design Software Inventory Management Software Forecasting Software 115

Supply Chain Game Changer

NOVEMBER 13, 2018

Check out What Exactly Is Procurement? And What is Purchasing? There has been transformation in the Procurement function over the past decade. From the starting point of the traditional buy-sell, transaction-based purchasing, the practice has moved through stages of change that redefines most aspect of the business.

Manufacturing Procurement 73

Manufacturing Procurement Optimal Sourcing Procurement Analytics Cost Reduction Strategies 73

ToolsGroup

SEPTEMBER 20, 2022

AI technology is continually revolutionizing how equipment and humans operate on the manufacturing shop floor as well as improving the behind-the-scenes supply chain planning operations. Industrial engineers incorporate these technologies in designing and fabricating advanced manufacturing systems. How Does AI Work?

Manufacturing Procurement 156

Manufacturing Procurement Supply Chain Design Software Optimal Sourcing Supply Chain Planning Software 156

Supply Chain Shaman

MARCH 12, 2019

The IT taxonomy for visibility is supply chain analytics. As a result, when I was a Gartner analyst and technology providers would provoke me to write a Magic Quadrant on visibility solutions, I would laugh. When we ended the discussions, we agreed that visibility is supply chain capability not a well-defined technology classification.

Prescriptive Analytics Software 182

Prescriptive Analytics Software Manufacturing Procurement Procurement Analytics Analytics Software 182

ThroughPut

MARCH 25, 2024

Our 2024 guide provides supply chain managers and planners with the latest tools and insights to refine their demand forecasting processes. Demand forecasting is the process of predicting future customer demand for a product or service. Demand forecasting predicts future customer demand using historical data and market analysis.

Forecasting 52

Forecasting Forecasting Software Modeling Demand Planning Software 52

Synovos

FEBRUARY 6, 2024

AI advancements in the areas of machine learning and large language models are important developments for integrated supply,” observes Robert Kline, Chief Technology Officer for the global technology team at RS Integrated Supply, a Maintenance, Repair and Operations (MRO) supply chain services company.

Trends 52

Trends Logistics Network Optimization Software Procurement Solutions Optimal Sourcing 52

ivalua

JUNE 29, 2020

With rising costs and declining margins, health systems must become more efficient and productive. Now, of course the systems of healthcare differ but overall the level and growth is certainly a concern. This becomes even more complex due to the high amount of clinical variation which drives up costs and complexity.

Supply Chain Planning Software 219

Supply Chain Planning Software Supply Chain Software Agile and Lean Supply Chain Optimal Sourcing 219

Unleashed

OCTOBER 6, 2021

that are each proven to reduce a company’s costs.? Consider Vendor Managed Inventory One way to save costs in inventory is to shift the responsibility of its management to your suppliers using a VMI system. Calculations for key figures like reorder points, safety stock and EOQ are handy tools for reducing your inventory costs 6.

Inventory Reduction 95

Inventory Reduction Cost Reduction Strategies Material Savings Vendor Strategies 95

ThroughPut

FEBRUARY 23, 2024

A report by McKinsey shows that early adopters of AI in the supply chain have improved their inventory levels by 35%, reduced logistics costs by 15%, and enhanced service levels by 65%, vis-a-vis competitors who were slow to embrace AI. AI tools can consider different factors like demand patterns, lead time, storage capacity, etc.,

Predictive Analytics Software 59

Predictive Analytics Software Supply Chain Planning Software Optimal Sourcing Predictive Analytics 59

Supply Chain Game Changer

MARCH 6, 2019

7 KPIs Your Procurement Team May Be Ignoring! It was a natural progression of time and technology. The correlation between technology and time is a special one. For every year that passes of time, it seems our technology advances 5 years, and begins to disrupt our lives — professionally and privately. Subscribe Here!

Manufacturing Procurement 50

Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 50