Transportation Sourcing in an Omni-channel World

Talking Logistics

Unfortunately, many retailers are jumping in without a plan — that is, they are taking a short-term, silo’ed approach to transportation sourcing and execution, and as a result, are failing to meet their desired outcomes. Also, is multi-functional engagement important and, how does omni-channel impact transportation sourcing? According to Joe, enVista’s Director of Transportation, “The key to omni-channel sourcing is that it requires you to understand your goals and objectives.

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

ivalua

No organisation does everything itself, and whether we’re looking at buying raw materials, components, innovative technology, or sourcing the best in marketing or professional services, the whole process of engaging and working with suppliers must reflect this need for speed and agility. . What does this mean for procurement and supplier management? That’s not something many procurement professionals traditionally consider. .

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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.” What Is Procurement Management?

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

We need to look at alternative sources of procurement, of production, alternative factories, alternative countries. In the longer term he says they are focused on “Diversification of sourcing, reducing the dependence of single-source suppliers, and developing relationships with the key partners or IT [vendors] … and invest like no other into demand planning and control towers to give us the most fine-tuned information,” and ability to start making “crystal-ball like” predictions.

Understanding Your Sourcing Footprint is the Key to Procurement Analytics

Supply Chain View from the Field

Direct conversations through on-site engagement with different lines of business is the most direct and effective means of understanding how sourcing processes are occurring today, as well as understanding how the sourcing need evolves and is expressed to suppliers. Supplier registration processes need to be designed around sourcing engagement processes, which track the supplier life cycle. Procure to Pay Strategic Sourcing Supply chain analytics

Responsible Sourcing! Making Sustainability Happen for Real!

Supply Chain Game Changer

Sustainability is created at the source of our products, services, and consumption. Sustainability is created from Responsible Sourcing. How can you make Responsible Sourcing a Reality? If you can excite the people around you about sourcing responsibly, chances are you’ll be able to formulate a network of internal champions. in this case, responsible sourcing. Source Smarter. Source: Purina. Gauge Output, Report and Refine. Source: Nestlé.

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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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.

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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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. How do you build a Sourcing Strategy?

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. But now with strategic sourcing and category management, the process has become much easier to track, monitor and control.

Ivalua Recongized for Procurement Excellence at Future of Sourcing Awards

ivalua

11, 2019 /PRNewswire/ — Ivalua, a global leader in spend management , today announced that it was selected as the winner of both the Innovations in Third Party Management and Innovations in Digitization awards, presented at the Future of Sourcing Awards event in Carlsbad, CA. Fannie Mae has undertaken a multi-year digital transformation of its complete source-to-pay process to improve efficiency, mitigate risk and ensure transparency. SOURCE Ivalua.

International Procurement in Emerging Markets

SCM Research

Emerging markets have been playing an important role in sourcing activities. Rapid growth has raised their value in world trade as both sourcing regions and sales markets. Procurement companies that are sourcing in emerging markets realize great opportunities and competitive advantages. However, procurement companies face challenges and risks in emerging markets. Practice Procurement Report Supply Chain Management

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

What Does Augmented Analytics Mean for Procurement?

Jaggaer

Read up on How Augmented Analytics Will Transform Your Organization: A Gartner Trend Insight Report. And even if you got that far, you would also need to understand the underlying data and how to extract the subsets you needed from the data source. And that, of course, includes procurement professionals. So, let’s examine Gartner’s words in more detail, but from the specific perspective of procurement. As is well known, procurement generates massive volumes of data.

Digitized Procurement: Your Setting-off Point to Autonomy

Jaggaer

In five to ten years, procurement in many of the world’s leading companies will be “truly digital”. They will have succeeded in transforming their procurement organizations to leverage artificial intelligence-based technologies to achieve autonomous procurement. Autonomous Procurement: The Reality versus the Hype. Over the coming months, we will identify and describe the four levels of development stages on the road to autonomous procurement.

Artificial Intelligence to Improve Decision-Making in Procurement

Jaggaer

Our recently published report, “ Digital Transformation in Procurement: How Close Are We? ”, which is based on a global survey with responses from 391 CPOs and other senior procurement decision makers, showed that most progress had been made with the automation of supplier management, procure-to-pay and spend management processes. Strategically, a digital assistant simplifies strategy development and execution within the procurement function.

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. Navigating the complexity of the global supply chain as a procurement professional can sometimes feel like taking a walk through the Amazon without a compass, or entering into outer space without an oxygen tank. It’s important that procurement teams take into account the new risk reality and challenges that face them, their organizations and their value chains.

A Seat at the table – Procurement’s Search for Enhanced Visibility and Influence

HICX Solutions

There are many who have argued that Procurement needs a seat at the C-suite table to ensure that data projects and digital transformation initiatives receive the attention that they require for success. Procurement’s Search for Enhanced Visibility and Influence. “We

Procurement Can Prepare for  Supply Chain Risk

ivalua

Alex Saric, Smart Procurement Expert, Ivalua. Globalisation has made is much easier for UK businesses to trade across borders, allowing access to lower cost sources of supply and new markets. 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. Procurement has a vital role to play.

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.

Why The Time Is Now for Sustainable Procurement

Jaggaer

Earth Day (April 22nd) is a celebration of commitment to creating a safer, healthier and cleaner world, making it a natural time to reflect on the power and value of sustainable procurement programs. With that, global businesses are committing to key sustainability objectives such as reducing greenhouse gas emissions , eliminating slave labor , avoiding plastics , conserving water used in production , tapping into renewable energy sources and more. Procurement at the pivot point.

Lessons from the Latest Forrester Wave Reports

ivalua

This month Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave™: Source-To-Contract Suites, Q4 2019. It covers spend analysis, sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s Strategic Sourcing Application Suites Magic Quadrant. Alex Saric, CMO, Ivalua.

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How Big Data Analytics is Revolutionizing Sourcing Processes for Walter Charles III

Jaggaer

To better understand the impact of big data analytics on procurement, we turned to industry veteran Walter Charles, CPO at Allergan, who sees big data as a major disruptor. To get the details on big data and augmented analytics, download the Gartner report, How Augmented Analytics Will Transform Your Organization: A Gartner Trend Insight Report. . How Big Data Analysis Plays into Procurement. Sourcing with Big Data. “Big Data” is everywhere.

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.

What Does It Take To Make Sourcing Truly Strategic?

USC Consulting Group

Marketplace pressures have forced procurement professionals to abandon traditional sourcing practices and implement more responsive strategies designed to promote organizational efficiency, agility and flexibility for growth, not to mention cost reductions. For businesses on the outside looking in, it might be difficult to understand how strategic sourcing differs from other long-established procurement practices.

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?

How to ride the Source to Pay Wave? 4 Lessons you can learn from Forrester

ivalua

Last year Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave : Source-To-Contract Suites, Q4 2019. It covers spend analysis , sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s Strategic Sourcing Application Suites Magic Quadrant. Alex Saric, CMO, Ivalua.

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.

Inefficient Procurement processes are costing UK businesses almost £2m per year, reveals research

ivalua

29 th August 2019, London – Research from Ivalua , a leading provider of global spend management cloud solutions , has shown that Procurement, supply chain and finance professionals are spending almost a third (31%) of their time dealing with inefficient paper-based or manual Procurement processes, which is costing UK businesses on average £1.94m annually* and limiting Procurement teams’ ability to deliver more strategic value. Ivalua is the Procurement empowerment platform.

Why Agile Procurement is Essential for CPOs in 2020

Jaggaer

His insights are numerous, and can all be heard in his full podcast episode, but among them is his main focus in 2020, the opportunity presented by agile procurement. Bartolini’s view of modern procurement is one of an industry at a crossroads. According to Ardent Partners’ 2019 CPO Rising Report , nine out of ten CPOs face pressure to deliver more on savings. However, he finds hope in how procurement has adjusted in the recent past. “We’ve sourcing?and

Sorting out Risk in FinTech Source Chains

NC State SCRC

But emerging technology is now beginning to create new ways to think about sourcing risk, which in the past has been a very manual, encumbered process. This has caused banks to look at the flow of activities in the “source chain”, which refers to the way that third parties use bank data for different opreations. Today, this end to end sourcing process has literally hundreds of different steps in the process. Let’s examine the source chain in more detail.

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. 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! The Procurement Value Chain Continuum. Procurement 101.

What Does Source to Pay Mean in the “New Normal” of Procurement

ProcurePort

In May 2020, The Washington Post reported that “over 100,000 small businesses had closed forever as the nation’s pandemic toll escalated.” Operations have slowed down as companies ask what is source to pay process under the “new normal”? Procure-to-Pay