Speed, Collaboration and Innovation – Key Words for the New Procurement Decade

ivalua

What does this mean for procurement and supplier management? Working collaboratively is often complex, involving internal stakeholders beyond the procurement function too, which highlights another critical success factor – the need for effective programme and project management.

4 ways IT & Procurement team collaboration increases resilience

ivalua

The Hackett Group report recommendations on IT & Procurement collaboration and how it can benefit your organization in the time of Covid-19 and beyond. Procurement has been uniquely placed on the business front line of this crisis in helping to pivot supply chains from producing make-up to face masks and to finding thousands of items of remote working equipment overnight, or from manufacturing parts for car engines to ventilators. Blending of IT and procurement teams.

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Procurement 2020… Will anything change?

All Things Supply Chain

It seems as though procurement has been anticipating the arrival of 2020 since the minute the ‘Y2K’ buzz wore off. Predictions and research, webinars and report titles… ‘Procurement 2020’ has… General Procurement Management Supply Chain Management procurement

Why Supply Chain Managers & Procurement Should Collaborate

Cerasis

The roles of logistics and procurement in an efficient supply chain cannot be overstated. According to Paul Myerson , reports Industry Week, up 70 percent of a company’s costs come from procurement and logistics operations. However, both logistics and procurement often become isolated in modern companies, resulting in inefficient practices and a sluggish production value. So, why do supply chain managers not take advantage of this data with respect to procurement?

21st Century Procurement Skills (Guest Post by Christoph Flöthmann)

SCM Research

Our guest post today comes from Christoph Flöthmann, an expert in strategic and digital procurement, who has recently co-authored a new report. Digitalization already has a major impact on procurement, as we write in our new report: 21st Century Procurement Skills. This is ultimately driving procurement effectiveness, efficiency and compliance. Practice Research Digitalization Procurement Report

Procurement Report Card: Most Executives Think Procurement Isn’t Strategic Enough!

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. Check out What Exactly Is Procurement? As we’ve chronicled on the Argentus Blog, it’s no secret that the world of Procurement is changing and fast. Procurement, you’ve come a long way, baby!

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.

10 Key Logistics & Procurement Supply Chain Practices to Know and Master to Reduce Spend.

Cerasis

However, following these 10 practices can help you learn how to reduce spend in the procurement supply chain. As a result, an external benchmarking tool , explains Olga Rissin of CHAINalytics , offers the benefits of reducing internal spend and accessing outside data, which further drives competitive advantage and lower spend in managing the procurement supply chain. However, 48 to 72 hours would be an ideal lead time, reports Steve Raetz of Logistics Viewpoints.

Using Procurement Analytics to Simplify Your Supplier Reconciliation

Logility

However, with a simple software-based supplier reconciliation process using procurement analytics in place, an organization can automate this cumbersome process to save hundreds to thousands of man hours every year. Electronic report distribution to suppliers.

86% of UK businesses face barriers developing digital skills in procurement

ivalua

A shortage of digitally savvy talent, and a lack of training for technical and soft skills, hinder digital procurement initiatives. 24th September 2020, London – Research from Ivalua, a leading provider of global spend management cloud solutions, has shown that a majority of UK businesses (86%) face significant barriers developing digital skills in procurement. Challenges in hiring digital skills in procurement.

Why Procurement leaders must act now to tackle the digital skills shortage

ivalua

The role of procurement has transformed over the last decade, from cost-cutter to a vital ally that can inform and enable business strategy. COVID-19 has only served to cement the procurement department’s status as a key stakeholder. Procurement leaders now have a seat at the top table when it comes to making decisions on supply chain opportunities and risk. As a result, the skills procurement professionals need today have evolved to become more technical and analytical.

Global Supply Chain Report 2017 (Guest Post by Dexter Galvin)

SCM Research

Our latest Global Supply Chain Report 2017 , written in partnership with BSR and the Carbon Trust, revealed emissions savings of 434 million tonnes disclosed by suppliers in 2016. billion as a result of their carbon-cutting measures – double what was reported in 2015. While the savings achieved by suppliers were certainly impressive, around half of the 4,300 companies we surveyed didn’t report any emissions reduction activities at all.

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Objectives of Procurement Management

EC Sourcing Group

Objectives of Procurement Management. The objectives of procurement management can range from the most general, such as “buying goods and services,” to the more complex, such as “supporting organizational goals within the team.” Procurement and purchasing is one stop on the supply chain , but everyone suffers if there’s a break in the chain. Read on to learn more about the objectives of procurement management , and how this relates to contract management as well as to ethics.

The Hitchhiker’s Guide to Digital Procurement!

Supply Chain Game Changer

Digital Procurement article, and permission to publish here, provided by Sam Jenks at kodiakrating.com. It’s important that procurement teams take into account the new risk reality and challenges that face them, their organizations and their value chains. Operational procurement?

8 Tips to Help Procurement Optimize Supplier Master Data

ivalua

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. The advice comes from this report: “ Gartner Supplier Master Data: Gain Control Over Your Supplier Master Data Before It’s Too Late.” To cover your full master data needs, Procurement should work with all internal stakeholders to map out the supplier lifecycle from end to end.

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Ivalua Study: Tech Challenges Hinder Procurement

ivalua

New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives. 31 March, Redwood City, CA – Ivalua, a leading provider of global spend management cloud solutions , has announced the latest findings of a worldwide study of supply chain, procurement and finance business leaders on Effective Procurement Performance Measurement. The post Ivalua Study: Tech Challenges Hinder Procurement appeared first on Ivalua

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Digital Procurement – Pack your bag, you are going on a journey

ivalua

The Hackett Group and Ivalua have been working together for some months to assess the status of Digital Procurement transformation and lessons learned from early adopters. Digital Procurement – a place we are planning to visit soon (and hopefully stay). There is no doubt that Digital Procurement is a reality for many organisations. It’s boring, and it’s so not sexy, but everyone knows that adage, rubbish in, rubbish out and this just as true for Digital Procurement.

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.

Ivalua Now and the Art – or is it the Science – of Procurement?

ivalua

It’s a question that you can answer for yourself at Ivalua Now – The Art of Procurement , being held, appropriately enough, at The Louvre, Paris 10 th – 12 th April. The event is free to attend and aims to attract hundreds of procurement and supply chain professionals to discuss and learn more about the latest industry trends and processes. In the process, these advances are enabling procurement leaders to look beyond their traditional remit.

Hey Procurement! It’s Time to SELL!

Supply Chain Game Changer

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. But there is a profoundly significant Procurement value chain. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers. Procurement is strategic! Now is the time for Procurement to SELL!

Unleash the Power of AI to Unlock the Potential of Procurement Enterprise

Jaggaer

Now, as companies start to seek, and create competitive advantages, the procurement function is in the spotlight. Typically, resistant to change and reliant on manual methods, procurement departments tend to be slow when adapt ing to technological developments. Autonomous Procuremen

Procurement Value Measurement A Spotlight Report from The Hackett Group

ivalua

The post Procurement Value Measurement A Spotlight Report from The Hackett Group appeared first on Ivalua

Groups 100

International Procurement in Emerging Markets

SCM Research

Procurement companies that are sourcing in emerging markets realize great opportunities and competitive advantages. However, procurement companies face challenges and risks in emerging markets. The study International Procurement: Challenges and Opportunities in Emerging Markets provides insights into approaches by top performers in dealing with these challenges and analyzes what it is that raises them above their competitors in their sourcing activities in emerging markets.

Procurement Can Prepare for  Supply Chain Risk

ivalua

Alex Saric, Smart Procurement Expert, Ivalua. Procurement has a vital role to play in identifying and managing risk. However, our latest report which talks about how how global supply chains have left organisations blind to risk. The report, conducted with Vanson Bourne, focuses on UK businesses, found that the majority of organisations (84%) say the expanding global supplier landscape is making it challenging to keep on top of supply chain disruption.

Procurement and Suppliers on the Same Page: How to Craft an Effective Terms & Conditions Sales Document

Cerasis

Editor's Note: Today's blog is the second part of Chuck Intrieri's series on how procurement and suppliers can avoid issues with their contracts. Procurement and suppliers often assume that small print is highly complicated legal jargon that is both boring and largely irrelevant. It Would Benefit Both Procurement and Suppliers To Write in a Clear, Friendly, and Organized Manner. Procurement

Challenges Facing Procurement Leaders

Material Handling and Logistics

From limited visibility beyond their tier-one suppliers to teams that don't have the capabilities to deliver on the strategy, procurement officers have their work cut out for them. A clear vision is a necessity to manage a global supply chain, yet 65% of chief procurement officers report having limited visibility beyond their tier-one suppliers, according to a new survey from Deloitte. There’s no doubt that digital is a game-changer in procurement," said Michael Daher, U.S.

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

How to Procure Full Truckloads in Tight Capacity

Cerasis

Unfortunately, the use of full truckload shipments and expenditures have hit an all-time high, reports Kate Patrick of Supply Chain Dive. These rates will have natural implications for smaller shippers seeking to lower overall transportation and freight spend, and paired with a “blurred lines between peak shipping and shopping seasons,” shippers will experience increasing trouble when trying to procure full truckload capacity. Conducting annual procurement exercises.

What Are the Goals of Procurement Management?

EC Sourcing Group

What Are the Goals of Procurement Management? The goals of procurement management are generally to acquire goods and services with the highest quality at the lowest cost to create an end product. Globally, most purchasing departments have moved on from a paper trail and have decided to make their procurement processes digital, which means that they now must be able to navigate E-procurement software and eSourcing software with some intermediate ability.

Procurement – How to Enable Spend Aggregation!

Supply Chain Game Changer

Check out Procurement: The Spend Aggregation Obstacle Course! Aggregating your procurement spend for the purpose of delivering greater value is a sound objective. We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course!

A Procurement Resolution – Realize Your True Potential

ivalua

For Procurement leaders in particular there couldn’t be a better time to do so. A recent study by the Hackett Group found that only 63% of Procurement organizations have even developed a plan for digital transformation. A Forrester study on enabling smarter procurement found only 22% believe their reporting and analysis is where it should be and only 22% that they have the required agility to respond to changing requirements.

Procurement Logistics: What Is It & Where Do Logistics Providers Fit In?

Cerasis

Many different terms, such as less-than-truckload (LTL), procurement and transportation management, describe supply chain management processes. Although procurement logistics might sound like it involves the purchasing of manufactured products , it is much more involved. The Definition of Procurement Logistics. The simplest way to think of procurement logistics is the procurement of materials needed to manufacture products. What Is Procurement Management?

Want better supplier adoption of your procurement portal? Start by asking your own sales staff.

OneSCM

A good portion of the value provided by automating procurement and payables processes comes from the labor and cost savings generated from fewer errors and less manual work. The procurement portal has to have enough transactional volume running thru it. For companies of this size and influence, supplier adoption of the procurement portal simply becomes a criteria for inclusion in the company’s approved vendor list (AVL).

Procurement and the Need for Speed

ivalua

In my last two articles ( here and here ) I’ve been talking about the need for Procurement to think about how we can move beyond our historical transactional role and embrace approaches to help drive competitive advantage and real value for our organisations. So, what should “speed” mean for Procurement leaders, and why is it so important for us today, as well as for Ferrari and McLaren? . Author: Peter Smith , Managing Director at Procurement Excellence Ltd.

10 Tips Shippers Can Use to Reduce Costs in LTL Procurement with Better Request for Pricing Bidding

Cerasis

at Cerasis, we know a thing or two about the nuances of LTL procurement. LTL procurement is something we do very well. So we thought we would impart upon all the shippers out there some tips on how to reduce overall costs for effective LTL Procurement. 10 LTL Procurement Cost Cutting Tips. Saving money on less-than-truckload or LTL procurement is a laudable goal, except when operational problems eclipse savings gains. Logistics LTL ltl procurement