Precoro

JULY 9, 2025

Definition: Procurement transformation is the strategic overhaul of how a business buys goods and services. This approach focuses on changing procurement holistically beyond minor tweaks, starting from strategies to organizational structures. Procurement transformation has several objectives.

Procurement Solutions 45

Procurement Solutions Procurement Analytics Optimal Sourcing Supply Chain Planning Software 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.

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Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 98

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

Exiger Perspectives

OCTOBER 31, 2024

How is AI changing supply chain risk management , and what does it mean for the future? These questions were part of a recent discussion featuring Exiger CEO Brandon Daniels about AI impacts on supply chains. Arjun Mehta: How is AI impacting supply chain risk management?

Supply Chain Risk Management 52

Supply Chain Risk Management Supply Chain Planning Software Risk Management Supply Chain Software 52

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.

Optimal Sourcing 130

Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

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. S2P is the end-to-end process that encompasses all the activities between an organization and its suppliers. What is Source-to-Pay?

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Optimal Sourcing Purchasing Skills Sourcing Strategies Sourcing 130

Precoro

JULY 4, 2025

It means that the sole-source supplier controls the price and terms, which is often called a monopolistic supplier. While both procurement strategies have their uses, don’t spend precious time debating single source vs. sole source. Examples of single-source procurement What is sole sourcing?

Purchasing Skills 59

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 59

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

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.

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Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 116

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. but also external data such as supplier networks and performance, extended supply chains, and the environmental impact of their operations.

Material Savings 52

Material Savings Inventory Reduction Manufacturing Procurement Waste Reduction 52

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

Procurement Analytics 21

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 21

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?

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

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

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

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.

Purchasing Training 98

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 98

MIT Supply Chain

JUNE 13, 2013

A new tool enables procurers to negotiate product prices without bargaining away supplier goodwill. When bargaining with suppliers over a product price, how can procurement professionals secure the best deal without damaging a valued relationship by being overly aggressive? Fair deal. Identify the sub-parts.

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Negotiate Pricing Negotiating Skills Purchasing Skills Manufacturing Procurement 78

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.

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Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 105

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

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. Goals beyond the best purchasing price fall into strategic sourcing.

Negotiating Skills 105

Negotiating Skills Purchasing Skills Optimal Sourcing Sourcing Strategies 105

SCMDOJO

JANUARY 17, 2024

Managing the supply chain involves the delicate art of aligning your product supply precisely with customer demand. That is to say, there isn’t one single career in supply chain management. That is to say, there isn’t one single career in supply chain management. Planners do exactly that.

Purchasing Skills 98

Purchasing Skills Negotiating Skills Optimal Sourcing Manufacturing Procurement 98

Supply Chain Game Changer

OCTOBER 15, 2019

Subscribe to Supply Chain Game Changer. Procurement is a core function in every single company. Whether purchasing goods or services to support the company’s product offering or purchasing goods or services to support the infrastructure and operation of the company, Procurement is key.

Procurement Solutions 14

Procurement Solutions Purchasing Skills Negotiating Skills Procurement 14

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. Qualifying suppliers.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

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 Purchasing Skills Pricing Training Negotiating Skills 52

Unleashed

NOVEMBER 28, 2022

Inventory replenishment is the process of purchasing the goods, components, and raw materials needed to build and sell products. It ensures products and materials are procured and delivered to the warehouse in a cost-effective, timely way. In this strategy, replenishment is automated based on minimum and maximum stock levels.

Inventory Reduction 98

Inventory Reduction Material Savings Cost Reduction Strategies Resource Reduction 98

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. billion in October 2020.

Supply Chain Design Software 52

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

Unleashed

JANUARY 4, 2024

This guide will explain how product sourcing works in modern business, best practices for finding suppliers, and list some of the most popular websites and tools for sourcing goods to sell. Product sourcing is the process of finding reliable suppliers and purchasing inventory from them with the intention of reselling to customers.

Purchasing Skills 52

Purchasing Skills Manufacturing Procurement Optimal Sourcing Sourcing Strategies 52

Unleashed

SEPTEMBER 20, 2023

A low MOQ means a supplier or manufacturer is able to offer smaller batches of its product to customers while still able to make a good enough a profit margin on that batch to make it worth the time, cost, and effort to produce. MOQ meaning in supply chain MOQs play an important role in manufacturing and supply chain management.

Manufacturing Procurement 52

Manufacturing Procurement Negotiating Skills Optimal Sourcing Purchasing Skills 52

HICX Solutions

JUNE 9, 2025

AI in supplier management is the use of artificial intelligence (AI) technologies to streamline and enhance various supplier-related processes. What is the use of AI in supply chain management? AI helps optimize supply chain management by offering predictive supplier analytics , real-time tracking, and automation.

Optimal Sourcing 40

Optimal Sourcing Negotiate Pricing Negotiating Skills Supplier Management 40

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

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. For sure, the traditional should cost approach and solutions can help solve these issues. Examples of software. Advantages.

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Negotiating Skills Purchasing Skills Negotiate Pricing Material Savings 64

Unleashed

AUGUST 28, 2023

Cost of sales formula The cost of sales formula combines all the raw materials, labour, and direct purchases necessary to produce goods for sale. This can mean adding up production staff wages, raw material costs, and any purchases made that directly impact the manufacturing of products.

Purchasing Skills 52

Purchasing Skills Negotiating Skills Cost Reduction Strategies Examples 52

Unleashed

FEBRUARY 12, 2024

This includes the cost of capital used to purchase inventory, which could have been invested elsewhere for potential returns. Additionally, they may involve the interest expense on loans or lines of credit used to finance inventory purchases. Due to technological advancements, some inventory items may become obsolete or damaged.

Inventory Reduction 52

Inventory Reduction Purchasing Skills Cost Reduction Strategies Negotiating Skills 52

Infosys Supply Chain Management

SEPTEMBER 22, 2011

Technology Services. Sourcing & Procurement. Sourcing & Procurement. ProcureEdge – Sourcing & Procurement. Supply Chain Management. The Infosys global supply chain management blog enables leaner supply chains through process and IT related interventions.

Supply Chain Planning Software 27

Supply Chain Planning Software Supply Chain Design Software Manufacturing Procurement Supply Chain Software 27

RELEX Solutions

MARCH 21, 2018

It also has an impact on handling, storage, and wastage costs in stores and in other parts of the supply chain. When RELEX set out to change the way retailers ordered and managed replenishment back in 2005 few companies automated their ordering. An automated replenishment system never stops working. Higher service levels.

Optimization Software 28

Optimization Software Supply Chain Optimization Price Mitigation Strategies Supply Chain Planning Software 28

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

Fewer than a third of supply chain management professionals view their collaborative processes as being “effective,” according to data from Flexis. It’s a troubling statistic, because as every supply chain manager knows, collaboration is crucial for a fully optimized supply chain.

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Optimal Sourcing Negotiating Skills Negotiate Pricing Pricing Training 61