PwC and the Role of Procurement in Supply Chain Optimization

ivalua

To stay ahead of all of these risk factors and changing demands, organizations need to discard their linear supply chain models and embrace an autonomous, end-to-end connected ecosystem. The post PwC and the Role of Procurement in Supply Chain Optimization appeared first on Ivalua.

Better Ways to Address Trade-Offs with Supply Chain Optimization

Logistics Viewpoints

Supply chain optimization has also improved in significant ways that can address these trade-offs better than before. Analytical techniques like linear programming can create the mathematically “optimal” plan, but these methods must be implemented well to avoid creating other challenges.

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8 Tips to Help Procurement Optimize Supplier Master Data

ivalua

Gartner predicts that by 2023, organizations that don’t optimize supplier master data management (MDM) could have wrong information for half of their suppliers! Accurate supplier master data (SMD) is essential for procure-to-pay (P2P) automation, accuracy and analytics, but connecting data to users and systems sometimes gets bumpy. Use these eight tips to optimize your SMD for smoother processes, more accurate information and better business value.

Modeling Supply Chains with “Digital Twins”

ToolsGroup

There has been a lot of discussion around this topic lately and I wanted to offer a few insights, including around the importance of the data model in high-quality decision making using digital twins. These are virtual counterparts to the physical world that model a product’s uniqueness and its lifecycle. Digital twins drive benefits such as improved business planning and improved sourcing, procurement and supplier management.

How the Covid-19 Crisis is Moving the Shipping Industry Towards a Spot Driven Rate Procurement Model and Reduce Cost through Shipsy’s Inquiry Module

Shipsy

Rate Procurement Through Inquiries In these testing times, shippers are now exploring spot rates in Shipsy’s Inquiry module to transport their goods. Logistic Post Uncategorized COVID-19 Digital Plathform Freight procurement Freight procurement software rate procurement

A New Robust Procurement Model Driven by Data

Pivot88

The role of procurement officers is changing and becoming increasingly critical for organizations. The role of procurement went from having the main objective of driving costs down to developing the key to a strategic organization. Optimize processes through to Tier 1 and Tier 2.

Optimizing Your Supply Chain

Enterra Insights

” With that caveat in mind, I think I can assert every organization wants to optimize its supply chain. I simply can’t imagine a CEO going to his or her board of directors and telling them their goal is to implement a sub-optimized supply chain. A key step in taking a more strategic approach to [supply chain operations] is looking at the big picture and working to optimize the supply chain from end-to-end. The benefits of supply chain optimization.

Transportation Network Modeling: A Powerful Tool in Greenhouse Gas Emissions Reduction Strategy

Talking Logistics

Supply chain network and transportation optimization can help make better sourcing and multi-stop route decisions that ultimately result in route design that balances low costs with higher service. With 40 percent of GSK’s carbon footprint coming from the procurement of raw materials, the company recognised that tackling its own emissions wouldn’t be enough to reduce its carbon footprint – it would need to support suppliers to do the same.

Procurement and Supply Chain are Smarter Together – Practical Use Cases

Logistics Viewpoints

In a previous post , I made a case for how the Chief Supply Chain Officer (CSCO) and Chief Procurement Officer (CPO) are smarter together. Accordingly Supply Chain and Procurement will need continuous collaboration. Procurement Supply Chain Planning

How the Covid-19 Crisis is Moving the Shipping Industry Towards a Spot Driven Rate Procurement Model and Reduce Cost through Shipsy’s Inquiry Module

Shipsy

Rate Procurement Through Inquiries In these testing times, shippers are now exploring spot rates in Shipsy’s Inquiry module to transport their goods. Logistic Post Uncategorized COVID-19 Digital Plathform Freight procurement Freight procurement software rate procurement

Developing the Business Case for Supply Chain Optimization

Talking Logistics

Supply Chain Optimization is a widely-used term in the industry, and while many companies understand its potential to drive cost savings and service improvements, they don’t know where to start or how to justify the investment. So, how do you develop the business case for supply chain optimization? When you run a model, you give yourself the ability to isolate the variables within your supply chain.

Procurement's dirty little secrets

Kodiak Hub

Procurement is a function that is undergoing an exciting transformation in the majority of global value chains; simultaneously, within its own strategy, process, and technology. This is an exciting time to be a procurement practitioner, as well as a vendor of ProcureTech solutions.

Digital Procurement Improves Supply Chain!

Supply Chain Game Changer

Digital Procurement article and permission to publish here provided by Katherine Barrios of xeneta.com. The Hackett Group has recently released their analysis of their procurement benchmarking database. It demonstrates the advantages of working with a digital procurement strategy.

Retail Recovery: 4 Ways Procurement Can Unlock Savings and Add Value

ivalua

During the pandemic, Procurement flexed its muscle, helping to mitigate supply chain disruptions and enable new channels for engaging with customers and fulfilling orders. Here are four ways leading Procurement organizations can influence retail recovery in 2021 and beyond: 1.

How Procurement Leaders Build Strong Supplier Relationships

QAD

In their list of common nightmare scenarios to try to prepare for, few procurement leaders could have predicted the business disruptions of 2020. Difficulties or delays in changing the operating model. Three steps to achieve improved sourcing and procurement via ERP are: .

Creating high-performance supply chain teams using the Kraljic model

Supply Chain Movement

Even though the era of ‘procurement through power’ is well over, I still see a lot of purchasers getting lost or sidetracked in the wrong quadrant of the Kraljic model in their quest for good prices to maximize profit. Regardless of your specific goal, optimizing your supply chain will always begin with an overview – and I personally prefer the Kraljic model to achieve that. The model itself is a simple two-by-two matrix linking profitability and risk.

How manufacturers can use ERP to improve the procurement process

SYSPRO Smarter ERP

Disruptions like the pandemic, supply shortages, global trade barriers, high customer expectations and inflation all add tremendous pressure on the procurement process. Despite this, only 33% of businesses invested in procurement and sourcing technologies.

Procurement Interview Questions & Answers

Supply Chain Game Changer

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Check out this list of 25 Procurement and Purchasing questions and answers. Subscribe Here! Email Address.

How manufacturers can use ERP to improve the procurement process

SYSPRO Smarter ERP

Disruptions like the pandemic, supply shortages, global trade barriers, high customer expectations and inflation all add tremendous pressure on the procurement process. Despite this, only 33% of businesses invested in procurement and sourcing technologies.

Disruption in Supply Networks – How intelligent network platforms optimize for variability and uncertainty

The Logistics & Supply Chain Management Society

We had to break them up into a lot of different modules, such as production management, order management, procurement, MRP, etc. It was a hub and spoke model. You can alleviate disconnects and stale data that results in poor optimization. Logistics Supply Chain.

Human Resource Planning for Procurement, Contract Management, and Supply Chain Management

NC State SCRC

As shown in the figure below, there are diverse and sometimes competing goals between procurement, contract management and supply chain management. Procurement is notorious for focusing almost exclusively on cost or price, and in taking possession of a good.

Supply Chain Cost Optimization

Vanguard Software

A better approach is implementing unified and collaborative optimization software that reduces supply chain cost and determines the optimal combination of expense, resilience, and quality. . What is Supply Chain Cost Optimization. Why is Supply Chain Cost Optimization Important?

From Siloed to Interconnected: Bring Planning, Sourcing and Procurement Together with a Common Platform 

Logility

the traditional supply chain model is falling short. Now more than ever, the conventional silos of planning, sourcing, and procurement teams must be connected into one cohesive network. Interconnected supply chain planning enables faster, more empowered decision-making.

Modern CPOs on their way to Smart Procurement

ivalua

Last week, the Ivalua team attended an interesting CPO Round Table organized by the CIPS MENA in Dubai on the theme “Enabling Smart Procurement Today.” Traditionally, the CPO’s first priority was to ensure the optimization and reduction of costs. What we can notice is that the application of Smart procurement technologies is becoming key for them to think strategically, act quickly and take the right decisions at the right moment in a permanently evolving environment.

7 Tips: A Guide to Mastering Procurement

Material Handling and Logistics

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. Procurement helps companies adapt, meet new regulatory requirements and shift supply to optimize an evolving tariff landscape.

Sourcing and Procurement: One but Not the Same

Precoro

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.

Transportation Modeling and its Role in Transportation Transformation, Part 1

BlueYonder

In their journey toward transforming their existing transportation and broader supply chain operations, many customers face challenges in substantiating their business case when it comes to crucial pillars such as better capacity allocation, asset optimization, and redefining procurement services.

Don’t Fear Optimization (It’s Just a Word)

Talking Logistics

Author’s Note: The following is the forward I wrote for a new textbook published by MercuryGate (a Talking Logistics sponsor) on “ Modern Technology for Transportation Optimization ,” which is available for purchase on Amazon.com. The word “optimization” is ubiquitous in the supply chain and logistics industry. And if optimization technology is so beneficial, why aren’t more companies leveraging it after all these years?

Supply Chain Optimization Software – A Comprehensive Guide for Manufacturers

ThroughPut

What is supply chain optimization? Supply chain optimization is a key component of the manufacturing supply chain process, helping companies control their input costs to be able to provide effective goods or services to their customers. What does supply chain optimization involve?

From “Rules of Thumb” to Non-Linear Algorithmic Optimization

Logility

Today, with the availability of powerful solutions using algorithmic optimization, machine learning, and running on lightning fast computer systems, using rules of thumb to determine the best way to manage your supply chain is archaic. Companies still use rules of thumb like ‘days of supply’ to manage inventory when it has been proven that reductions of up to 30% in overall inventory can be achieved through the adoption of inventory optimization. Inventory Optimization

Supply Chain Optimization Software – A Comprehensive Guide for Manufacturers

ThroughPut

What is Supply Chain Optimization? Supply chain optimization is a key component of the manufacturing supply chain process, helping companies control their input costs to be able to provide effective goods or services to their customers. What does supply chain optimization involve?

Procurement Experiences, Trends and the Future!

Supply Chain Game Changer

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. We have worked in hundreds of different industries and spend areas over many years in thousands of procurement projects. The Next in Procurement.

3rd CEE Procurement & Supply Forum

Supply Chain Movement

3rd CEE Procurement & Supply Forum. Though, within the last years its significance has changed: It is focusing on finding optimal suppliers in times of international crises, strategic changes and investing in long term supplier relationships. New models of cooperation and systematic collaboration with suppliers from CEE can generate significant advantages for both parties. Date: 19 October, 2016. Venue: Prague, Czech Republic. Organisation: BME Verband. URL: www.bme.de/en/all-events/cee/.

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory optimization is also considered as the next level of inventory management for warehouse and supply chain managers. Which is why, manufacturers can achieve holistic Inventory Optimization, by considering both supply and demand fluctuations. .

Inventory Optimization 101 – Smart & Effective Inventory Management

ThroughPut

What is Inventory Optimization? Inventory optimization is also considered as the next level of inventory management for warehouse and supply chain managers. Which is why, manufacturers can achieve holistic Inventory Optimization, by considering both supply and demand fluctuations. .

Procurement Technology Review of EC eSourcing and EC Optimize

EC Sourcing Group

Review of Procurement and Sourcing Technology Tools from EC Sourcing Group. FROM GUEST BLOGGER, KUMAR KANNEN at Procural www.procuralservices.com. I particularly like the combination of standard eRFX, reverse auction and optimizer functionality in a single solution.

Time to Look into the Future of Procurement!

Supply Chain Game Changer

Check out What Exactly Is Procurement? There has been transformation in the Procurement function over the past decade. A typical Purchasing Function is limited to the transactional job of collecting information about the requirements of user departments and carrying out commercial checks and balances to finally procure the product & service based on c ost reduction only and focused on supply continuity. A Paradigm Shift in the Procurement Function. Subscribe Here!

Optimizing Liberty Global’s Supply Chain: An Interview with Willem Vesters

AIMMS

We had the pleasure to speak with Willem Vesters, Liberty Global’s VP Global Supply Chain Planning, to learn more about their optimization journey. Visibility into the Network side of the business was limited to the company’s engineering and procurement department. How do we create a view to calculate and optimize a return out of that expanded customer base? How do we get the insights needed to start optimizing towards cash, revenue or capital investment?

7 Trending Business Practices Disrupting Procurement!

Supply Chain Game Changer

7 KPIs Your Procurement Team May Be Ignoring! Procurement is a business function that has undergone a lot of change in the last few years. Due to globalization, growing consumer demands on transparency, the pertinence of sustainable development and technological advancements, procurement and supply chain professionals have been highlighted as an integral part of their organizations. As a believer in the power of procurement, this recognition makes me happy.

What is Optimized Sourcing?

EC Sourcing Group

What is Optimized Sourcing? eSourcing is an essential piece of how to optimize the procurement process, as the process deals with finding, selecting, collaborating, and evaluating current and potential suppliers. Sourcing Optimization: Software and Setting Rules.