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 .

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?

Ivalua Paints a Great Procurement Picture at Ivalua NOW Chicago 2019

ivalua

“We have this long-term strategy of building a very big company with a fantastic product that we can offer to the market. The event was themed on “The Art of Procurement” relating to how the further procurement leaders mature in their transformations, the more their approach shifts from science to art. Just building great Procurement solutions that customers clearly love (in 2018 once again maintaining the industry’s highest retention rate, over 98%).

Does Your Company Have A Solid Transportation Procurement Strategy?

Logistics Viewpoints

Supply Chain professionals have a tremendous amount of demands and pressures to be aware of and transportation procurement is one of those pressures. Procurement/Sourcing Transportation Transportation Management Systems transportation sourcingThe logistics marketplace is dynamic and demands attention to truly optimize and enable strategic advantage.

The 4 Stages of Supply Chain Analytics

speakers are professing "data got sexy" and data is now a core strategy for. procurement officers believe the quality of data is a major barrier, and the. chain design, procurement, and transportation with greater precision and will. This is a long term strategy and commitment.

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. Digital Procurement – a place we are planning to visit soon (and hopefully stay).

Procurement Strategy Beyond Savings

APICS

Procurement has been a key part of supply chain management for decades. Here, we have experienced some resistance to the procurement movement, typically stemming from a lack of understanding However, the concept is a relatively new trend for law firms — the sector in which I work.

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.

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. Check out this list of 25 Procurement and Purchasing questions and answers. And you don’t need to purchase an expensive procurement technology suite to do so.

[INFOGRAPHIC] Procurement Trends: Carving a Bigger Role in Supply Chain & Manufacturing

Cerasis

As time passed, procurement gradually gained a larger role in the scope of manufacturing and order fulfillment. By the mid-1950s , procurement had become a commonplace aspect of minor business, and procurement was almost comparable to secretarial work.

SanDisk’s Story of Customer Segmentation Strategies Using Inventory Postponement

Supply Chain Shaman

When I hear companies discussing the implementation of a customer segmentation strategy, I ask a series of questions: Who is your customer? What are you trying to accomplish through the execution of a customer segmentation strategy?

Four Strategies To Deploy As Supply Chain Hits Main Street

Supply Chain Shaman

For the CFO, end-to-end is a focus on transactional flows like order-to-cash and procure-to-pay. Most are clueless about driving a better-planned order flow from tactical planning to procurement or transportation planning or how to improve forecast-value-added (FVA) processes.

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.

Expanding Your Ocean Freight Procurement Strategy

CHAINalytics

In case you missed it, our previous blog detailed … The post Expanding Your Ocean Freight Procurement Strategy appeared first on Chainalytics.

These 7 Industrial Procurement Trends will Impact Supply Chain & Logistics in 2018

Cerasis

Procurement must never be an afterthought in any enterprise. The answers to these questions lie in understanding a few of the top industrial procurement trends to expect in 2018. Companies Will Seek New Ways to Use Technology in Procurement. As with many other topics affecting industry trends in the transportation, trucking and manufacturing industries, companies are looking for ways to increase the use of technology in procurement, explains Melissa Deleen of LinkedIn.

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.

Advanced Strategies for Successful Ocean Freight Procurement

CHAINalytics

However, bankruptcies, consolidations, and the reorganization of carrier alliances has drastically reduced … The post Advanced Strategies for Successful Ocean Freight Procurement appeared first on Chainalytics.

Procurement Terminology is a Mess!

Supply Chain Game Changer

Hey Procurement! From one Procurement organization to the next, terminology differs. Procurement is a function, that is undergoing transformation; technologically and ideologically. The way we buy and sell procurement technology needs to reflect this new era.

7 Ways to Strategically Elevate Freight Procurement

Talking Logistics

In the last decade, many companies, especially those with manufacturing operations, have evolved direct materials sourcing from an administrative function to a strategic procurement process. The embodiment of this transformation is the chief procurement officer, an increasingly common title for executives that strategically source goods and services. As a strategic process, transportation procurement may still seem very tedious and challenging.

5 Procurement Strategies For Small Medium Enterprises

CormSquare

Subsequently, procurement tends to be an afterthought, when it should be approached strategically! Small businesses spend between 40% – 65% of sales revenue on procurement of inputs. Improved Internal Procurement Processes. Outsource Procurement Needs.

10 Strategies for Improving Supplier Relationship Management (SRM)!

Supply Chain Game Changer

Supplier Collaboration is a Win-Win Strategy! Supplier Relationship Management (SRM) is the hallmark of the Modern Procurement Function. The better your organization is at transferring this knowledge the better your procurement function will be at meeting its mandate.

Commodity (or Category) Management – What is your Buying Strategy?

Supply Chain Game Changer

Check out What Exactly Is Procurement? A well constructed Procurement Strategy will raise the value of the Supply Chain to your company. Are you executing a Buying Strategy or are you just blindly placing purchase orders ? What is a Commodity Management Strategy?

Successfully Launching a Digital Procurement Transformation

ivalua

In an earlier post , I wrote about the importance and overall success factors involved in digitally transforming Procurement. The one tried and true approach is for Procurement leaders to build and sell the business case. Alex Saric, CMO, Ivalua.

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

Procurement Strategy Summit – Dubai, 16-17 October 2019

ivalua

Ivalua is the Gold partner of the Procurement Strategy Summit that will take place in Dubai from 16 to 17 October 2019. Key topics will be discussed in this year’s edition : How to handle the journey towards digital procurement ? How to leverage the talent management of procurement professionals ? Come and meet the Ivalua team to discuss your journey through digital procurement.

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!

Manage Procurement Spend Like It’s Your Own Business!

Supply Chain Game Changer

Hey Procurement! Procurement. And all of this is managed by Procurement personnel. In What Exactly is Procurement? Now also consider that companies can spend as much as 75% or more of their revenue on the Procurement of goods and services. Subscribe Here!

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!

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.

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.

eWorld Procurement & Supply

Supply Chain Movement

eWorld Procurement & Supply. eWorld Procurement & Supply in association with The Chartered Institute of Procurement & Supply (CIPS), is the UK’s leading event focusing on the use of leading-edge technologies and techniques within the procurement & supply chain functions.

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.

Empowered Consumers Require Omnichannel Strategies

Enterra Insights

Steve Osburn ( @skosbu ), Managing Director at Kurt Salmon — a part of Accenture Strategy specializing in Supply Chain, observes, “E-commerce customers in the U.S. A recent study from Accenture Strategy found that 62 percent of U.S. To meet changing consumer behavior, retailers are finding omnichannel strategies essential. ” Omnichannel strategies can help meet consumer demands. Understand your business and customer strategy.

PROCUREMENT BEYOND SAVINGS

Eyvo

Many of us think of digital procurement as a way to reduce purchase costs and increase efficiencies. Another aspect of what makes digital procurement stand out is that of mitigating risk and increasing spend visibility. Talent Gap in Procurement. by Bhargavi Nake.

DISRUPTIVE TECHNOLOGIES IN PROCUREMENT – IS THE CHANGE COMING?

Eyvo

Digital procurement has been the talk of the town in the industry. As a result, companies should be ready for such disruptions in every aspect of procurement. The influence of disruptions in procurement can be seen in – better supplier relationships and effective management, strategic sourcing and better spend measurability. These technologies can potentially change the way procurement works. There are changes which are already happening in the procurement processes.

eWorld Procurement & Supply – 22 September 2015

Supply Chain Movement

eWorld Procurement & Supply. The Leading Bi-Annual Event for Procurement Innovation. The UK’s most comprehensive business forum for Procurement, Sourcing and Supply Chain Technologies. Soft skills for procurement professionals. Sustainable procurement strategies.