What Does “Good” Look Like: Strategic Sourcing

ivalua

If you have ever read an article about Procurement best practices, you know that a very small minority of teams are categorized as leaders and an equally small minority are considered laggards. So what does “good” strategic sourcing look like? Good” strategic sourcing….

Is Single Sourcing, or Sole Sourcing, Dead?

Supply Chain Game Changer

In many cases the use of single sourcing, or sole sourcing, Procurement strategies has limited the ability for Supply Chains to access alternate sources of supply and more rapidly support higher than normal demand levels. What is Single Sourcing or Sole Sourcing?

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Experts Choice Of Top Online Logistics Resources

Freightos

The Experts’ Choice of the Top Online Logistics Resources. So I went straight to the source and asked consultants, trade reporters, Wall Street Journal reporters and others, what their go-to logistics and supply chain sources were. is one of the industry’s most respected logistics sources. The businessman’s news source of choice, global export and import volumes (as well as buying trendings) are key to informing supply chain professionals.

Why Get a Product Sourcing Agent?

Supply Chain Game Changer

Product Sourcing Agent article and permission to publish here provided by Joyce Chen at Epic Sourcing. When starting your importation business, finding the primary resources required is one of the first and most vital steps. Who is a Product Sourcing Agent? Subscribe Here!

The Top 5 Reasons You Need a Transportation Sourcing Solution

Talking Logistics

If you are buying widgets, there are many ways to make your purchase, from going to a retail location, ordering online or using a standard procurement software tool that allows you to order lots of widgets and receive them over a specified period of time. Here are the top five reasons you need a transportation sourcing solution: 1. Freight sourcing is as unique and complex as the transportation industry itself.

Make Freight Sourcing More Efficient!

Supply Chain Game Changer

Freight sourcing team article and permission to publish here provided by Katharine Barrios at xeneta.com. Freight sourcing and procurement is a critical component of the whole supply chain and is crucial to the success of the business. In order to achieve maximum efficiency in freight sourcing and procurement, you need a strong team to handle the requirements. These are the must-haves for any effective freight sourcing team. Subscribe Here! Email Address.

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?

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. .

3 Ways Procurement Can Help Grow Revenues (Part 2)

ivalua

In part 1 of this blog I looked at how procurement can actually create new revenue opportunities. Here I’ll take a look at two other ways that procurement can help support growth. Organizations’ spend and suppliers are often an untapped resource to drive growth. Procurement

Is Procurement Drowning in Data?

Supply Chain Game Changer

Featuring Our 12 Best Procurement Articles! Procurement drowning in data article and permission to publish here provided by Sam Jenks at kodiakrating.com. Meanwhile, 60% of procurement teams have no tools or rely primarily on improvised systems for Supplier Management.

Procurement vs. Purchasing: What’s the Difference?

Logistics Bureau

The best way to understand the difference between procurement and purchasing in a business is to consider the process involved in buying a car, says Logistics Bureau’s procurement specialist, Trent Morris. Procurement First, Purchasing Follows. Getting a Job in Procurement.

Outsourcing Sourcing! 5 Lessons from Around the Globe!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals. But beyond that he had no idea on where to start to source his product. Large companies can afford to have Strategic Sourcing Procurement staff around the world. This contract needs to be between you and your Sourcing agent and with your suppliers.

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. Procurement is strategic! Now is the time for Procurement to SELL! Procurement 101.

What’s the difference between purchasing and procurement?

Unleashed

Procurement and purchasing are often used interchangeably to describe the role of procurement. What is procurement? Procurement is the process of purchasing a service or a good, usually on a large scale and for commercial purposes. The role of procurement in a business.

Strategic Sourcing: The Key to Competitive Advantage

Supply Chain Opz

Strategic Sourcing has been used by companies of all sizes for years. Professor Schoenherr is the expert in procurement and decision making and he will provide some guiding principles that practitioners can use to create more sustainable competitive advantage. This commentary highlights some of the key principles to strategic sourcing. However, priority is always given to cost cutting initiatives.

The Pros and Cons: International and Domestic Sourcing

Unleashed

It’s easy to oversimplify the differences between sourcing for parts locally or internationally. When considering where to purchase from, the prevailing idea seems to be that domestic sourcing allows for better control and shorter lead time, but international sourcing is more cost-effective.

Procurement Outsourcing – Keep your Integrity!

Supply Chain Game Changer

Like so many professionals Procurement people are very proud. But at some point in their careers, especially in the age of Outsourcing, they are likely to have to deal with potential suppliers who provide Procurement services. Procurement typically negotiates deals for other functions like I/T, HR, Manufacturing and every other area in the company. When selling Procurement Outsourcing services you need to have a lot of credibility to begin. Subscribe Here!

Big Tech and Auto Battle for the World’s Cobalt Resources

Elementum

As a finite but clearly valuable resource locked mostly in countries with difficult-to-track labor standards, cobalt’s supply chain has fallen under intense scrutiny in recent months, and companies are rushing to get their share. However, as standards for sourcing become more strict, these big players may lose business if they fail to provide visibility into their supply chains. firm Freeport-McMoran and Eurasian Resources Group.

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.

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. didn’t buy off on procurement?as

What Powers Artificial Intelligence (AI)? A Guide to Procurement!

Supply Chain Game Changer

But few people really understand what it is, how it works and more importantly, why it is so important to Procurement. This paper seeks to answer those questions and specifically address its benefits to the Procurement process by addressing the following checklist: Checklist.

ANCA Streamlines Procurement with the QAD Supplier Portal

QAD

Inevitably, the procurement process is complex and challenging to manage. ANCA builds their machines in Australia but these precision components are sourced from around the world. Procurement System Improvement Goals. Streamlined Component Procurement.

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

GlobalTranz

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?

Arkad S.p.A. Selects Ivalua & PwC To Drive Its Procurement Transformation Journey

ivalua

has selected Ivalua’s platform to drive its Procurement digital transformation journey with PwC as implementation partner. procurement digital transformation started on December 2020 with the Go-Live of the Ivalua Supplier Management module. REDWOOD CITY, Calif.,

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When is it Time to Invest in Procurement Technology?

Jaggaer

Or it may be an executive mandate driven by a leadership change or the arrival of an individual who understands the earnings contributions or growth that a well-run procurement organization can deliver to an enterprise. No Time Like the Present for Procurement Technology.

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. In 1995 IKEA faced an organizational shift in purchasing and sourcing methodology. Subscribe Here!

Big Tech and Auto Battle for the World’s Cobalt Resources

Elementum

As a finite but clearly valuable resource locked mostly in countries with difficult-to-track labor standards, cobalt’s supply chain has fallen under intense scrutiny in recent months, and companies are rushing to get their share. However, as standards for sourcing become more strict, these big players may lose business if they fail to provide visibility into their supply chains. firm Freeport-McMoran and Eurasian Resources Group.

7 Signs of Excellent Procurement Teams!

Supply Chain Game Changer

Procurement teams article and permission to publish here provided by Sam Jenks. Procurement is a function that has long been at cross-roads; dare to transform within people, process & technology, or keep doing what has always worked just fine. Source: Procurement Leader 2017.

Procurement Predictions for 2021 - Claritum

Claritum

Claritum’s top ten 2021 predictions for Procurement. Medium sized organisations will use procurement automation and buyer portals in the cloud, to address concerns of spend management, remote working and data security.

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? Secondarily, we will include information from other procurement professionals and procurement firms about their experiences, what they forecast, and what they are seeing. We have worked in hundreds of different industries and spend areas over many years in thousands of procurement projects. Subscribe Here!

New online insight hub revealed to increase intelligence resources for supply chain decision makers

EFT

The Insight Hub doesn’t just give us an opportunity, for the first time, to house all this industry leading content in one place, it also gives us the scope, resources and platform to create, commission and curate a far broader collection of business-critical intelligence than ever before.

Top strategies for procurement to help support revenue growth

ivalua

With businesses’ focus shifting from damage control to restoring growth, innovative CPOs are encouraging their procurement teams to prioritise supplier innovation and revenue growth opportunities. . Procurement is notoriously bad at marketing itself, to its own disservice.

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

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

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.