Unleashed

JANUARY 8, 2024

Procurement management directly impacts your bottom line, making it a critical component of running a profitable product-based business. In this article, we look at the different stages of procurement management. We’ll also explore project procurement management and the relationship between procurement and supply chain management.

Procurement Solutions 52

Procurement Solutions Pricing Training Negotiating Skills Purchasing Skills 52

Precoro

MAY 22, 2023

In today’s fast-paced corporate world, it's difficult to overstate the significant role that technology plays in the success of many organizations. 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.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 52

Precoro

AUGUST 26, 2021

Purchasing? Or procurement? Although quite similar, procurement and purchasing are two distinctive processes , and understanding the difference between them can help facilitate your organization’s success. Scroll down to find: Procurement and purchasing: side-by-side comparison table ; Procurement and purchasing defined.

Pricing Training 98

Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 98

SCMDOJO

APRIL 20, 2023

If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.

Negotiating Skills 95

Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 95

SCMDOJO

SEPTEMBER 18, 2023

In the dynamic landscape of supply chain management, precise terminology is paramount. Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference.

Negotiating Skills 97

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 97

Resilinc

MARCH 26, 2024

Welcome to part three of our AI in Supply Chain blog series. In this blog, we explore the different types of predictive AI models for supply chain risk management. In this blog, we explore the models used in Resilinc’s predictive AI and explain how they help streamline supply chain risk management.

Modeling 113

Modeling Supply Chain Risk Management Modeling Software Risk Management 113

Precoro

MAY 19, 2023

According to McKinsey survey of global supply chain leaders , only 53% of respondents describe the quality of data in their supply chain planning systems as “sufficient” or “high.” less likely to be affected by supply chain disruptions.

Procurement Analytics 98

Procurement Analytics Metrics Supply Chain Planning Software Supply Chain Software 98

SCMDOJO

JUNE 6, 2023

For businesses to succeed, supply chain optimization is essential to succeed. It helps reduce costs, increases efficiency, and can enhance customer satisfaction. Supply chain optimization can achieve this with the help of data analytics. They can understand their supply chain operations with more precision.

Optimal Sourcing 72

Optimal Sourcing Modeling Supply Chain Optimization Analytics Software 72

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. What Is Procurement Process?

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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

Precoro

JULY 8, 2022

One should keep in mind that every transaction has an additional hidden cost in labor and overheads, such as the time spent sourcing products, tracking deliveries, matching invoices, and overseeing suppliers. In the article, we look critically at the role of the purchasing manager and discuss how to determine the value of hiring one.

Purchasing Skills 98

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 98

OptiProERP

MAY 18, 2023

So what is procurement? Procurement is acquiring goods, services, or works from an external source. It involves sourcing, negotiation, ordering, delivery, and payment for goods or services. What Are the Types of Procurement?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Procurement Solutions 52

Precoro

APRIL 6, 2022

If you're reading this now, then you’ve probably noticed how outdated traditional procurement systems recede into the past and are replaced by new modern solutions. What is Cloud Procurement? These services include: Software; Analytics; Networking; Data storage; Servers and more. Three Categories of Cloud Procurement.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Modeling Software Analytics Software 98

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.

Manufacturing Procurement 130

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 130

Precoro

OCTOBER 2, 2023

The procurement landscape is ever changing, and recently, in contrast to the traditional procure-to-pay platforms, we have seen the emergence of a new type of software solution, intake-to-pay, which is marketed as a more comprehensive solution. But hold on: are we sure that wasn't all possible with procure-to-pay, anyway?

Procurement Solutions 59

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Design Software 59

Supply Chain Matters

DECEMBER 13, 2022

Our Supply Chain Matters This Week in Supply Chain Technology column reflects a number of significant recent announcements that depict an ongoing active cycle of tech developments. Updates included in this edition include: Coupa Software Entering Definitive Agreement to be Acquired. million, compared to $23.5

Supply Chain Design Software 52

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Negotiate Pricing 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. It is a key part of your company’s supply chain. Strategically approaching the procure to pay process can see your company reap the rewards. Measuring and reporting.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

Supply Chain Trend

AUGUST 13, 2020

Preview In his 2019 Foresight article, Niels van Hove examined eight technological hurdles that must be overcome to enable autonomous or ‘lights out’ supply-chain planning. He reasoned that to support such planning we need to implement a third wave of integrated supply-chain planning software. Key Points.

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Supply Chain Software Supply Chain Planning Software Supply Chain Design Software Forecasting Software 147

SCMDOJO

AUGUST 16, 2023

Among these strategies, the role of supply chain capability stands out as a key factor in driving success. A well-optimized supply chain not only ensures efficient delivery and cost-effectiveness but also provides companies with a competitive advantage in the market.

Inventory Reduction 74

Inventory Reduction Vendor Strategies Price Reduction Supply Chain Planning Software 74

Oracle SCM

MARCH 3, 2020

Procurement professionals are now playing an increasingly strategic role within their organizations. Procurement of raw materials and components that go into the manufacturing process is essential to ensure final product quality and strong financial performance. The new procurement professional needs a broad set of skills.

Manufacturing Procurement 78

Manufacturing Procurement Procurement Analytics Negotiating Skills Procurement Solutions 78

Taulia

JULY 21, 2022

The supply chain activities involved in the procurement process , from sourcing the right suppliers to taking delivery of materials and products, are vital to the overall health of any business. But how can supplier performance be measured? The importance of supplier KPIs.

Negotiate Pricing 75

Negotiate Pricing Supplier Management Optimal Sourcing Procurement Analytics 75

ToolsGroup

DECEMBER 20, 2021

Global Trade Authority Rob Garrison, CEO and Co-Founder of Mercado Labs, shares insights from over 30 years of supply chain experience working with a variety of Fortune 500 companies. Here, he explains what caused current global supply chain disruptions, and shares the five steps needed to overcome today’s supply chain issues.

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Supply Chain Disruption Supply Chain Planning Software Supply Chain Design Software Supply Chain Software 194

Taulia

OCTOBER 7, 2021

The procurement process is a critical business function, but how do you measure how effectively the process is managed in your business? Setting KPIs for your procurement department can help to demystify their performance and deliver insights into where improvements can be made. So which procurement metrics and KPIs should you measure?

Procurement Analytics 52

Procurement Analytics Procurement Solutions Optimal Sourcing Purchasing Skills 52

Unleashed

MARCH 28, 2021

Supplier relationship management is often referred to as the B2B equivalent of customer relationship management. We’ll define this crucial management concept and explain how you can implement and improve supplier relationship management to leverage business success. What is supplier relationship management? Reduces costs.

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Negotiate Pricing Cost Reduction Strategies Price Reduction Negotiating Skills 111

QAD

JANUARY 19, 2023

Supply chain management (SCM) is essential to any business strategy. Supply chain management is never boring, and there’s always more to learn. What is a Supply Chain? Simply put, a supply chain controls the flow of raw materials and goods. What is Supply Chain Management?

Supply Chain Planning Software 95

Supply Chain Planning Software Supply Chain Design Software Optimal Sourcing Supply Chain Software 95

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

Unleashed

MARCH 16, 2021

Having grown sufficiently, you may find your SME business now has the need for a dedicated purchasing manager – and perhaps even a purchasing department. So if you’re a business owner who is wondering how to run a purchasing department, then check out our practical guide below. Goals of purchasing.

Purchasing Skills 59

Purchasing Skills Manufacturing Procurement Procurement Solutions Procurement Analytics 59

EC Sourcing Group

FEBRUARY 8, 2023

If you’re still performing sourcing manually or are curious about how to streamline your sourcing methods , read on to learn about these five ways traditional sourcing methods hold you back, and why tech-enabled sourcing strategies in procurement are a far better choice. Sourcing Strategies in Procurement: What Is Traditional Sourcing?

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Sourcing Strategies Negotiating Skills 52

SCMDOJO

JULY 18, 2023

Contract management plays a crucial role in the procurement process, as it helps ensure compliance, mitigate risks, and optimize supplier relationships. By effectively managing contracts, organizations can maximize the value of their procurement activities and minimize potential issues.

Optimal Sourcing 93

Optimal Sourcing Procurement Analytics Manufacturing Procurement Procurement Solutions 93

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. By negotiating lower MOQs with suppliers, businesses can reduce the amount of inventory they need to purchase at once.

Inventory Reduction 79

Inventory Reduction Optimal Sourcing Resource Reduction Cost Reduction Strategies 79

Silvon Software

APRIL 23, 2019

Companies that focus on strategic sourcing can generate substantial economic value not just by eliminating waste, reducing costs and improving administrative efficiency, but also by building stronger supplier relationships that can make them more competitive, profitable and nimble.

Purchasing Skills 70

Purchasing Skills Manufacturing Procurement Procurement Analytics Procurement Solutions 70

LevaData

MAY 16, 2022

If so, which negotiation strategies—or alternative sourcing decisions—might reduce the gap? Does a proliferation of component stock-keeping units provide an opportunity for component aggregation and consequent price reduction? And does your supplier base have inherently greater risk exposure than those of your competitors or peers?

Purchasing Skills 80

Purchasing Skills Negotiate Pricing Negotiating Skills Price Reduction 80

Precoro

MAY 27, 2021

For anyone responsible for procurement in an organisation, supplier management is an inevitable area of responsibility. Poor supplier performance due to the lack of oversight, analytics and clearly defined requirements. Poor supplier performance due to the lack of oversight, analytics and clearly defined requirements.

Negotiate Pricing 52

Negotiate Pricing Supplier Management Procurement Analytics Negotiating Skills 52

Unleashed

JANUARY 10, 2023

Supply chain planning is the key to coming out on top. Optimising your supply chain processes will give your business the best chance at thriving in a competitive landscape. In this supply chain planning guide: What is supply chain planning? And it all starts here.

Supply Chain Planning Software 52

Supply Chain Planning Software Supply Chain Planning Supply Chain Software Supply Chain Design Software 52

Precoro

NOVEMBER 7, 2022

In order to run a successful business, you need a dedicated procurement team to obtain these essential goods and services, ensure timely delivery, and nurture good relationships with your vendors. Paying for offices, utilities, technology subscriptions, and cleaning services is also part of the procurement team's responsibility.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Solutions Optimal Sourcing Procurement Analytics 52

GlobalTranz

SEPTEMBER 12, 2016

Many different terms, such as less-than-truckload (LTL), procurement and transportation management, describe supply chain management processes. In some cases, these conditions may be applied to all supply chain processes. However, each term covers a different portion of the supply. Replacement parts.

Manufacturing Procurement 120

Manufacturing Procurement Optimal Sourcing Procurement Solutions Procurement Analytics 120

ToolsGroup

JUNE 27, 2022

In this article, we’ll break down what vertical integration is, its benefits and disadvantages, its application in supply chain, and the factors to consider when deciding whether it’s the correct strategy for your company. Vertical Integration in Supply Chain: To Integrate or Not To Integrate? Some people can’t.

Price Reduction 156

Price Reduction Cost Reduction Strategies Material Savings Supply Chain Planning Software 156