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.

The Science and the Art of Procurement

ivalua

As we move towards a new decade is the emphasis in the procurement world changing – are we going to see a new age, where the Art of Procurement comes to the fore? Much of our focus in the last twenty years or so within the procurement profession and within our specific procurement functions has been on what we might call the “Science of Procurement”. Author: Peter Smith , Managing Director at Procurement Excellence Ltd.

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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. Cloud-based systems offer many benefits throughout the procurement supply chain, reports Procurious HQ.

John Cockerill selects Ivalua spend management to digitize all procurement processes and cover all spend in one single system

ivalua

The post John Cockerill selects Ivalua spend management to digitize all procurement processes and cover all spend in one single system appeared first on Ivalua

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How Procurement can help to drive Supplier-led innovation

ivalua

Additionally, significant challenges remain for businesses who do want to collaborate more with suppliers; a lack of understanding around supplier capabilities (35%), security risks (30%), and poor data quality (28%) are cited as the biggest barriers to supplier collaboration.

Procurement: With Great Power Comes Great Responsibility!

Supply Chain Game Changer

Hey Procurement! ” Procurement organizations can have the power to spend and control as much as 75-80% of a company’s revenue. Less enlightened organizations still think of Procurement as a back office function processing transactional purchase orders and standard contracts.

GS1 Registry: Achieving Food Security with Sustainable Farming Standards

Descartes

The leading global organization that develops and maintains the most widely-used standards system in the world helps address the issues concerning food security by sharing its own standards. The summit focuses on food security and sustainable agriculture to empower farmers. Consumers are also demanding more information about their procurements. The post GS1 Registry: Achieving Food Security with Sustainable Farming Standards appeared first on Appterra Collaborative Commerce.

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 Leading Pharmaceutical Companies Through the Pandemic

Jaggaer

From early on in the Covid-19 pandemic , and for pretty obvious reasons , procurement in healthcare and pharmaceuticals has been in the spotlight like never before. The post Procurement Leading Pharmaceutical Companies Through the Pandemic appeared first on Jaggaer.

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

The 3 Pillars of Digital Procurement!

Supply Chain Game Changer

Procurement professionals have the same question looming over their head on a daily basis: “How do you plan on dealing with digitalization?”. Regardless of the sheer amount of content one could chose to consume, the theme for the day was apparent and held strong: Digital Procurement.

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.

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

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?

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.

Time to Look into the Future of Procurement!

Supply Chain Game Changer

Check out What Exactly Is Procurement? There has been transformation in the Procurement function over the past decade. A Paradigm Shift in the Procurement Function. The Evolution of Procurement’s Value Proposition. Procurement professionals need to get savvy.

What Does Augmented Analytics Mean for Procurement?

Jaggaer

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. It’s OK, we understand.

Technologies that Impact Procurement

Claritum

Claritum Article - Procurement Blog. Technologies and Procurement Table. There are a lot of articles around on what Procurement needs to do; how Procurement needs to change; and how technology will fundamentally change Procurement. This article summarises, as a table, technology areas that impact on Procurement that you might need to investigate. 2 Technologies and Procurement Table. Augmented Intelligence for Procurement professionals.

How to Build a Digital Procurement Ecosystem in 8 Minutes!

Supply Chain Game Changer

In this post, I’d like to suggest a mapping of a digital procurement ecosystem, dive into the necessity for these functionalities, and draw some conclusions as to how these focus areas can drive performance in an overall procurement organization. When building a digital procurement and sourcing ecosystem, it’s important to dig into your existing procurement process. The Digital Procurement Ecosystem. Building your own Digital Procurement Ecosystem.

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.

Procurement Integrity Breach – A Sure Way to Get Fired!

Supply Chain Game Changer

Check out Procurement Outsourcing – Keep your Integrity! I just got a call from corporate security. Security needed our support to do the full investigation. Is there anything worse than cheating your suppliers as a procurement professional? . Subscribe Here!

Ethics in Procurement – Simple, but Not Always Easy

Logistics Bureau

If you have not yet tackled the question of ethics in procurement, now is a great time to start. It does not matter whether you are a procurement professional, internal customer, external customer, senior executive, or supplier. Ethical Procurement: Some Scenarios to Consider.

Making Procurement Autonomous: Embracing the Future in the Present

Jaggaer

For more, and to learn about all four steps of the autonomous procurement process, register for our webinar, “ Four Steps to Autonomous Procurement “ In modern procurement teams, many are wondering what will happen when AI technology is truly integrated into purchasing systems.

Artificial Intelligence to Improve Decision-Making in Procurement

Jaggaer

What Is the Best Way to Secure Sustainable Competitive Advantage from New Technologies? 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.

Digitalization in Procurement: Your Questions Answered

Jaggaer

Last week JAGGAER hosted a webinar reviewing the findings of our recently released 2019 Digital Procurement Survey Report. We reviewed the key takeaways and provided recommendations for how procurement professionals can begin to take advantage of next-generation technologies. 35% of respondents said it was their main challenge in modernizing their procurement process. Digital transformation in procurement is not just automation. Procurement Resources

How Are Counterfeit Drugs Procured?

Supply Chain @ MIT

A new approach focuses on the way these products are procured. The research explores a new approach to combating drug counterfeiters: devising mitigation strategies based on the way dispensers procure medicines. The research is modeling the procurement practices of dispensers such as clinics and pharmacies that can buy product from genuine manufacturers as well as local and regional wholesalers. Counterfeit cures.

Procurement, Industry 4.0, Cybersecurity, Robotics and Automation: The Image of Manufacturing is Evolving.

Cerasis

Let’s take another look at how procurement, computing power, industry 4.0, cyber security, advanced robotics and automation became top priorities for research, development, and implementation throughout the past year’s operations in the manufacturing industry. . Procurement Operations Became Decentralized and Adaptable. Procurement is also becoming more interesting and involved. Twitter Facebook Google+ LinkedIn The post Procurement, Industry 4.0,

5 steps for Procurement to impact on financial results

Claritum

Claritum Article - Procurement Blog. Address Procurement Strategy. Focus Procurement on supplier optimisation. Don’t lose Procurement’s focus on costs. Keep Procurement up to date. It is procurement at the heart of any impact on P&L.

Procurement Challenges Condensed

Claritum

Claritum Article - Procurement Blog. I took on the challenge of writing a condensed version of all the current Procurement challenges. I believe the issue with these articles is the broad range encompassed by the word Procurement and the constant change within this domain. To my mind, your challenges depend on where you are in transformational change within your organisation, the scope of your function within Procurement and the nature of the organisation’s supply chain.

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.,

Procurement & Supply Chain Experts lined up for Ivalua NOW Virtual 2020 on May 5th!

ivalua

Like every industry Procurement & Supply Chain software vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. Next month, on May 5 th and 6 th , I’m looking forward to what looks like an interesting and worthwhile virtual Procurement conference – Ivalua NOW 2020 Virtual Edition. . Do you remember the days when we used to attend these things called “conferences”?

3 Contract Management Security Risks to Prioritize

ProcurePort

We all know that the procurement business can be tough, and one of the toughest parts of it is recognizing the biggest security risks in contract management. Vendor contracts are a top priority for anyone in procurement.

How JAGGAER and the UK Ministry of Justice Exceed Public Procurement Demands

Jaggaer

?. Public sector procurement is stuck in limbo – frequently the differences between public and private sector seem enormous, but they’re of te n exaggerated or misunderstood. We sat down with Richard Hogg, Managing Director, JAGGAER UK, and Jim Rawlings, Commercial Direc tor, UK Ministry of Justice, to talk through the challenges and misconceptions about digital procurement in the public sector. to understand the full supply chain from which we procure. ”.

Streamline Procurement Activities By Reducing Your Purchase Order Cycle Time

Unleashed

It also serves as a form of security for the supplier. The most effective way to streamline procurement activities is to include a well-considered purchase order cycle as part of your purchasing processes, one that allows you to plan for expenses and budget for the costs of doing business. The purchase order life cycle is the set of steps taken to process a purchase order to procure goods for your business and it includes the following steps: 1.

What’s Next for Digital Procurement?

Jaggaer

Our survey of the global procurement community and the subsequent report, Digital Transformation in Procurement: How Close Are We? revealed heightened awareness of digital technologies and their potential to transform the procurement function, but little progress over the past two years. For this to happen, procurement professionals must make a stronger case to the organization’s leadership to demonstrate the value it can deliver.