Procurement can’t afford to be a digital laggard in today’s complex landscape

ivalua

Leading the charge in navigating this constantly shifting trading environment is the Procurement department. However, as things stand, many Procurement teams aren’t digitally mature enough to provide this input to the business. Smart Procurement can unlock a strategic advantage .

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.

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Collaborating on Supply Chain Research

Talking Logistics

Is there a greater need for supply chain research today than in the past, and if so, why? That was my opening question to Steve Raetz, Director of Research and Market Intelligence at C.H. Robinson , in a recent episode of Talking Logistics titled, “ When Shippers, 3PLS, and Universities Collaborate on Supply Chain Research.” I asked Steve why they chose to partner with those universities, and why didn’t they just conduct the research themselves.

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.

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

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

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. Here are the top takeaways from that Webinar and from the full research.:

Category-based Procurement

Claritum

Claritum Article - Procurement Blog. Project and Category Procurement Differences. Category-based Procurement Examples. The Inherent Challenges of Category-based Procurement. Characteristics of good Category Procurement Activity. Supplier and Market research.

Project Based Procurement

Claritum

Claritum Article - Procurement Blog. Project and Category Procurement Differences. Table of the key differences between Project and Category based procurement. Types of activity suitable for Project based procurement. The inherent challenges of project-based procurement.

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.

Why Agile Procurement is Essential for CPOs in 2020

Jaggaer

Chief Research Officer at research?advisory 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. way that procurement organizations are?organizing

IKEA’s IWAY Lessons For Procurement!

Supply Chain Game Changer

Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management. SCM #SupplyChain #ikea #retail #logistics #procurement #purchasing. Subscribe Here! Email Address.

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

Sustainable procurement: a platform to rebuild

Proxima

Pre-crisis we ran some research with Finance Leaders in the US and UK. The post Sustainable procurement: a platform to rebuild appeared first on Proxima

Artificial Intelligence to Improve Decision-Making in Procurement

Jaggaer

The Gartner research note published in September 2018, entitled “ The Impact of Artificial Intelligence on Procurement Software Applications ” argues that while the benefits of such automation are significant, they are not able to deliver sustainable competitive advantage.

Procurement Transformation Delays – The Role of Personality!

Supply Chain Game Changer

Article provided to Supply Chain Game Changer by Katalin Brennan at Eyvo E-Procurement. We’ve all heard of the need for Procurement to embrace the Digital Transformation for many years. There are few procurement-specific personality surveys available. Subscribe Here!

Procurement Bots – Transformer or Destroyer?

Supply Chain Game Changer

Check out What Exactly Is Procurement? The last few years have seen a lot of real (and over) hype associated with the emergence of Software Robots (called Bots/Bot) which are disrupting the legacy procurement processes involving human interface. Subscribe Here! Email Address.

First NCSU Procurement Leadership Program a great success!

NC State SCRC

We held our first ever Procurement Leadership workshop this week, hosting a group of executives from Altria, American Red Cross, Cheniere Energy, Smith & Nephew, RSCS (YUM!

How to Procure Full Truckloads in Tight Capacity

Cerasis

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. The Solution: Shippers Must Use Out-of-the-LTL-Box Strategies Shippers must take a more strategic approach to truckload procurement, explains CH Robinson via Supply Chain 24/7.

How Are Counterfeit Drugs Procured?

Supply Chain @ MIT

A new approach focuses on the way these products are procured. Research at the MIT-Zaragoza International Logistics Program , Zaragoza, Spain, is investigating why drug dispensers such as clinics and pharmacies might acquire fake drugs. Counterfeit cures.

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.

Expert Research, What Happened with IMO 2020 Fuel Prices?

Aborn and Co.

Chris was director of supply chain at SharkNinja where he was responsible for procurement, inventory management, and new product development. An update on how things are developing with IMO 2020/VLSFO. .

Collaboration between Finance and Procurement Leaders is more important than ever

Proxima

For procurement leaders, finance leaders are often a key stakeholder or indeed the person they directly report to. But do finance leaders value the performance of procurement? This suggests that the mindset is certainly there among finance leaders for views of procurement to shift.

New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives

ivalua

REDWOOD CITY, Calif. , March 31, 2020 /PRNewswire/ — 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.

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Five Ways AI Will Turbocharge Procurement

HICX Solutions

The basic purchase-to-pay (P2P) processes for managing and recording the procurement transaction are already automated to some extent in many organisations. The post Five Ways AI Will Turbocharge Procurement appeared first on HICX Solutions.

Hospitals Suffer from a Lack of Market Transparency: New Evidence from a Research Project with SCWorx

NC State SCRC

Trillion industry, yet is often described by experts as a “cottage industry” due to the lack of maturity surrounding its contract management and supply chain practices. Research suggests that up to 40% of funds spent are non-value-added in nature.

Chatting about the future of procurement with Charlotte de Brabandt

Xeeva

During our discussion, we chatted about the impact of technology on the future of procurement, and how to prepare for these inevitable changes. XEEVA: As technology is evolving, procurement and supply chain are also evolving at a faster rate. CHARLOTTE: I think the whole role of procurement will change in the future. Keeping that in mind, the role of procurement will change, and so will the leadership function. Business Strategy Procurement

SCRC Research on Drug Shortages: Lawsuits, Low Cost Countries, and Litigation

NC State SCRC

I also collaborated with a group of researchers at the University of Palermo on research related to the relationship between the common practice of offshoring and product recalls, which are also unfortunately becoming increasingly common (and are often the root cause of shortages). Our prior research suggested that the increased complexity associated with an extended (but financially controlled) supply chain does not lead to lower product recall volumes.

Differences Matter in EU and U.S. Transportation Procurement

TMC

As companies expand globally through mergers or organic growth, many are faced with the decision whether to combine logistics teams and apply a universal truckload procurement strategy across multiple regions. We’ve done research to understand those differences. Truckload Procurement.

Tariffs and Procurement: A perfect match?

Proxima

According to recent Procurement Leaders research , 40% of category managers are anticipating risk associated with tariffs. How Procurement fits into the equation. This is where Procurement comes in. The post Tariffs and Procurement: A perfect match?

Frequency of “Supply Chain” in Books

SCM Research

The following Google Ngram Viewer graph shows the frequency of the terms “supply chain”, “logistics” and “procurement” in books published between 1975 and 2008. Practice Research Logistics Procurement Supply Chain Management

5 Differences Between Europe and U.S. Transportation Procurement

TMC

As companies expand globally through mergers or organic growth, many are faced with the decision of whether or not to combine logistics teams and apply a universal truckload procurement strategy across multiple regions. We’ve done research to understand those differences.

IKEA’s IWAY Has Lessons For Every Procurement Team!

Supply Chain Game Changer

Check out Procurement Report Card: Most Executives Think Procurement Isn’t Strategic Enough! Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management.

The expanding scope of procurement analytics: Some initial thoughts

NC State SCRC

Procurement analytics, which supports decision making in procurement management, typically handles problems and decisions that are related to cost reduction, supplier management, cost modeling, procurement-led innovation, market strategies, supply chain risk, and stakeholder value improvement (Handfield, Jeong, and Choi 2019). While this role of procurement analytics improves the efficiency of internal operations (e.g.,

The State of Supply Chain Trends Part II: AI, Procurement, & the New Lean

Cerasis

Understanding how different factors affect the supply chain remains a top priority for research firms around the globe. From artificial intelligence to refocusing on procurement, the state of supply chain continued to explode throughout 2016, and you need to understand why. Procurement’s Role Did Become More Important. The 2016 state of supply chain prediction called for enhanced procurement capabilities, focusing on establishing new supplier-vendor relationships.

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