Precoro

JUNE 3, 2025

Businesses often use it in retail and purchasing. Category management isn’t just another procurement trend. It’s a way for companies to group similar goods or services (like IT infrastructure, facilities, or raw materials) and manage them holistically instead of handling every purchase in isolation.

Manufacturing Procurement 45

Manufacturing Procurement Procurement Analytics Procurement Solutions Material Savings 45

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

Precoro

MARCH 27, 2025

Rising costs, supply chain chaos, and economic swings put businesses under enormous pressure to protect their margins. According to McKinsey & Company, procurement accounts for 50% to 80% of a company’s cost base. That’s why organizations zero in on strategies to achieve procurement cost reduction. 

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Expense Reduction Vendor Strategies 45

ivalua

OCTOBER 8, 2021

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. Decentralize Procurement. Rethink What’s Normal.

Optimal Sourcing 130

Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

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 116

Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 116

Supply Chain Game Changer

NOVEMBER 24, 2018

For his entire career my Father worked in the field of Procurement. But the job titles that he had during his career alternatively included either the word Procurement or the word Purchasing. When I was young I thought I had a somewhat clearer understanding of what my Dad’s Purchasing job was. Procurement.

Procurement Analytics 76

Procurement Analytics Purchasing Skills Optimal Sourcing Negotiating Skills 76

Precoro

JULY 8, 2022

The question arises: when to separate purchasing management tasks into an autonomous operational role and hire a designated professional? There is no universal answer to this question, as purchasing process, procurement policies, goals, and volumes differ not only in the industries but even from company to company.

Purchasing Skills 98

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 98

SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started? Do not worry!

Purchasing Training 98

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 98

SCMDOJO

SEPTEMBER 18, 2023

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. So, get ready to elevate your communication skills and gain a deeper understanding of the procurement domain.

Negotiating Skills 105

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 105

ivalua

MARCH 9, 2023

It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. The last phase of the process, also known as Procure-to-Pay includes the ordering of goods/services, receiving of these, invoicing and payment to suppliers.

Optimal Sourcing 130

Optimal Sourcing Purchasing Skills Sourcing Strategies Sourcing 130

Precoro

DECEMBER 11, 2023

As part of the larger procurement process, sourcing involves finding and evaluating suppliers for goods or services that need to be purchased. Sourcing tasks include sending out requests for proposals (RFPs), evaluating supplier bids, selecting vendor partners, negotiating contracts , and then managing supplier relationships.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

Precoro

MAY 22, 2023

This process, known as IT procurement, requires comprehensive steps with clear objectives and vendor selection criteria to ensure that technology investments align with business goals and yield a return on investment (ROI). This article encompasses the best practices for planning and executing successful IT procurement strategies.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Pricing Training Purchasing Skills 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. Strategically approaching the procure to pay process can see your company reap the rewards. In this guide, we’ll cover: What is the procure to pay process. Negotiating.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

Jaggaer

APRIL 9, 2025

As a leading vendor of procurement technology and solutions to manufacturing companies around the world, JAGGAER is witness to these changes as they happen, and even before they happen. Next came AI assistance, whereby AI supported humans with advanced AI applications on top of industrial IoT analytics.

Material Savings 52

Material Savings Inventory Reduction Manufacturing Procurement Waste Reduction 52

Unleashed

JUNE 8, 2023

Behind every successful product business is a thoughtful procurement strategy designed to optimise the supplier management and purchasing process. This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

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 Purchasing Skills Negotiating Skills 52

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

SCMDOJO

JANUARY 17, 2024

They are in charge of purchasing, procurement, and sourcing. They supervise the whole operation, from forecasting demand and planning production to procurement and logistics. Their role involves sourcing and purchasing high-quality products at competitive prices.

Purchasing Skills 98

Purchasing Skills Negotiating Skills Optimal Sourcing Manufacturing Procurement 98

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 52

Procurement Analytics Metrics Supply Chain Software Inventory Reduction 52

Supply Chain Game Changer

JULY 16, 2019

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. At its most basic level Suppliers are considered transactional. suppliermanagement #procurement #purchasing.

Negotiating Skills 74

Negotiating Skills Negotiate Pricing Procurement Analytics Purchasing Skills 74

QAD

JANUARY 19, 2023

Supply chain management is typically broken into three large buckets of intricate processes and roles: Concept: the full cycle, from sourcing and procurement to fulfillment. This integration of supply and demand requires a special mix of business operations, procurement, accounting, and production.

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

ShipBob

DECEMBER 28, 2022

Strategic sourcing is a unique purchasing method that aligns your sourcing strategy with your business goals. Rather than making a purchasing decision off of the initial cost, strategic product sourcing allows you to refine your sourcing process by conducting ongoing market analysis and forming strong relationships with suppliers. .

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

Supply Chain Matters

DECEMBER 13, 2022

This action represents a reported 77 percent premium to the company’s closing stock price on November 22, 2022, the last full trading day prior to media reports involving a potential transaction. The announcement further coincides with Coupa Software’s report of fiscal third quarter financial performance.

Supply Chain Design Software 52

Supply Chain Design Software Supply Chain Planning Software Supply Chain Software Negotiate Pricing 52

Unleashed

JANUARY 4, 2024

Product sourcing is the process of finding reliable suppliers and purchasing inventory from them with the intention of reselling to customers. Suppliers are identified through various online or offline methods, such as trade shows, business-to-business marketplaces, and word of mouth. Where can you source products from?

Purchasing Skills 52

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 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. It represents your true cost of creating and selling a product. What is cost of sales? Cost of sales is the accrued total of all the costs of supplying a product.

Purchasing Skills 52

Purchasing Skills Negotiating Skills Cost Reduction Strategies Examples 52

KEPLER Consulting

MARCH 23, 2018

The purpose of this article is to share our experience in the use of machine learning to generate quick saving opportunities and homogenize purchased pricing across business units / regions in large groups. Refer to our article “ Supply Chain optimization: a total cost approach ”. Control supplier quotes on new projects.

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Negotiating Skills Purchasing Skills Negotiate Pricing Material Savings 64

Unleashed

SEPTEMBER 20, 2023

A minimum order quantity functions as a safety net for your profit margins and can help inform key decisions around production and purchasing. Why purchasers should care about MOQ It’s not just business owners who should care about MOQ. In turn, this affects their budgets and informs their procurement strategy.

Manufacturing Procurement 52

Manufacturing Procurement Negotiating Skills Optimal Sourcing Purchasing Skills 52

Unleashed

FEBRUARY 12, 2024

Capital costs Capital costs represent the opportunity cost of the funds tied up in inventory. This includes the cost of capital used to purchase inventory, which could have been invested elsewhere for potential returns. The monthly labour cost for these employees is $3,500.

Inventory Reduction 52

Inventory Reduction Purchasing Skills Cost Reduction Strategies Negotiating Skills 52

CormSquare

JANUARY 11, 2017

Supplier negotiations can be a tough topic to deal with. When suppliers eliminate competition by minimizing prices or creating technology interferes with competitors, it often seems like companies are forced to accept the prices of the goods. By utilizing following steps, you can do supplier negotiations like never before.

Negotiate Pricing 52

Negotiate Pricing Negotiating Skills Purchasing Skills Supplier Negotiating 52

Procurement Academy

MARCH 12, 2024

Calculating the Cost Breakdown: This process involves working with cost, finance, logistics and manufacturing process experts. 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.

Optimal Sourcing 69

Optimal Sourcing Negotiating Skills Purchasing Skills Buyer Training 69

Xeeva

MAY 4, 2017

Click To Tweet Whether you’re procuring raw materials to create a product or buying more copy paper for the office printer, every financial decision your organization makes is aimed at one goal: raising the bottom line. Related: It’s time to think differently about indirect procurement. Purchase History.

Procurement Solutions 41

Procurement Solutions Material Savings Procurement Analytics Predictive Analytics Software 41

Precoro

DECEMBER 18, 2023

Medical institutions might not typically consider optimizing the healthcare procurement process a top priority. Yet procurement in healthcare influences the overall well-being of medical institutions and, ultimately, the quality of patient care. However, procurement in the healthcare industry has some unique aspects.

Procurement Solutions 59

Procurement Solutions Optimal Sourcing Procurement Analytics Procurement 59

6 River Systems

JANUARY 10, 2019

Secondary and contingent supplier planning. Keep in touch with cross-functional colleagues. “Whether you’re in procurement, supplier quality, production control or logistics, supply chain is only one ingredient in the pie of successfully bringing a product to market. Can we see the purchase order confirmation?

Optimal Sourcing 61

Optimal Sourcing Negotiating Skills Negotiate Pricing Pricing Training 61

Precoro

NOVEMBER 25, 2024

Let’s be honest: managing procurement can feel like a juggling act — with pending requisitions, undelivered purchase orders, unpaid invoices, budget tracking, and stock transfers all in the mix. That’s where procurement reporting dashboards come in and let procurement managers see what’s really going on.

Procurement Analytics 105

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 105

Precoro

FEBRUARY 28, 2025

By bringing procurement and project management under one umbrella, businesses can streamline operations, speed delivery, and drive growth that lasts. This guide explores the benefits of project procurement management and outlines key steps for creating a Project Procurement Management Plan (PPMP) that drives business growth and innovation.

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Procurement Analytics Procurement Solutions Optimal Sourcing Manufacturing Procurement 45