Integrated Supplier Management Boosts Performance

QAD

The disruption caused by the COVID-19 pandemic has certainly increased the awareness among manufacturers for improved communication and collaboration with suppliers. Manufacturers require integrated supplier management to ensure the timely flow of goods and information.

Supplier Motivation, A Key Component of Supplier Management

ivalua

Convinced that their sizes and brands will attract suppliers anyway, they entrench themselves behind the gates of rigid procurement processes. This multi-channel strategy tailored to suppliers’ capabilities is what differentiates best-in-class from a peer group as a report from The Hackett Group reveals. This translates into a powerful lesson learned for Procurement: motivate your suppliers rather than merely manage them.

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What Is Strategic Supplier Management?

EC Sourcing Group

What Is Strategic Supplier Management? Perhaps one of the toughest tasks of all in the entire supply chain and procurement process is mitigating the human factor and evaluating the relationships you have with your suppliers and strategic partners. Supplier management is not talked about nearly enough as other procurement processes or management, yet it is still a critical aspect of the entire chain. Strategic supplier management.

A Look at Direct v. Indirect Supplier Management in Three Industries

ivalua

Doug Keeley, Product Marketing Manager, Ivalua. The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is supplier management. This includes supplier information management, supply chain risk management/mitigation, and supplier performance management. Who is the supplier, who are the points of contract, what are the terms of service or delivery?

Factoring Risk & Business Continuity into Holistic Supplier Management

Jaggaer

What is the optimal way to categorize your suppliers so that you can manage them better and maximize business continuity? The latest Supply Chain Resilience Report published by the Business Continuity Institute in partnership with the Chartered Institute of Procurement & Supply (CIPS) provides some fascinating insights. The report, therefore, provides a very useful insight into supply chain management and resilience from the perspective of this community.

Your Procure-to-Pay Suite Won’t Cut It For Supplier Management – Here’s Why

HICX Solutions

The continued growth in the adoption of procurement-to-pay (P2P) or source-to-settle (S2S) suites in the last few years is testament to the significant value they deliver to procurement teams in businesses of all sizes. Exercising control of the procurement process enables businesses to achieve continuous cost savings, purchasing compliance and a level of automation of repeat processes in accounts payable. It’s not a mistake that many procurement leaders make twice.

Strategic Procurement: 4 Tactics for Economic Recovery in 2021

ivalua

In August 2020 Gartner published this report “4 Tactics Procurement Can Use to Sustain Influence as Economic Conditions Improve” This blog summarizes the key points of the report which you can read in full, here. Procurement Teams Step-up.

5 Pillars of Effective Supplier Management

Claritum

Claritum Article - Procurement Blog. This article focuses on effective supplier management. The five pillars of effective supplier management covered in this article are: Supplier Information Management. Supplier Lifecycle Management. Supplier Performance Management. Supplier Risk, Diversity and Compliance Management. Supplier Relationship Management. 1 Supplier Information Management.

Intalere partners with Ivalua & Consus Global to digitize and transform their sourcing, supplier management and contract lifecycle management processes

ivalua

The solution will support Intalere’s Supplier Management, eSourcing, Contract Lifecycle Management and transactional procurement processes. New York, NY January 07, 2021. We are excited to announce that Intalere, a healthcare supply chain GPO based in St. Louis, Mo.

How Modern Software Empowers Procurement with Agility and Resilience in Times of Crisis

ivalua

In a recent webinar, “ How to Leverage S2P Platforms to Enable Supply Chain Resilience ,” procurement experts from Forrester, Ivalua and Procurement Leaders discussed how digital transformation and the technologies that enable it can help companies mitigate risk and be more agile and resilient.

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. Procurement teams are becoming a more intrinsic part of business strategy, able to help organisations manage and predict supply chain risk, unlock innovation, create sustainable cost savings, and help grow revenue. However, as things stand, many Procurement teams aren’t digitally mature enough to provide this input to the business. Alex Saric, CMO, Ivalua.

The Importance of Using Supply Chain Management Software in Procurement

EC Sourcing Group

The importance of using supply chain management software is notable because of the importance of the supply chain itself. Read on to learn more about types of supply chain management software and how to pick the best type for your company’s needs. . Contract management.

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

ivalua

For the vast majority of organisations, suppliers must play their part when it comes to agile business and speed to market. 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?

Solving the Procurement Data Dilemma: The future of technology in Procurement

HICX Solutions

In the final interview in our series on ‘ Solving the Procurement Data Dilemma ,’ Gren Manuel speaks to Nic Walden. Nic leads the procurement executive advisory programme in the UK for consultancy The Hackett Group. Technology to drive Procurement as a strategic function.

Supply Chain and Procurement Transformation in 2021

Bristlecone

According to a pre-COVID report published by the Federal Emergency Management Agency ( FEMA ), 40% of businesses do not reopen following a natural disaster. This year, we’ll see continued focus on building resiliency into supply chain and procurement functions. Managing Change.

Solving the Procurement Data Dilemma: The future of technology in Procurement

HICX Solutions

In the final interview in our series on ‘ Solving the Procurement Data Dilemma ,’ Gren Manuel speaks to Nic Walden. Nic leads the procurement executive advisory programme in the UK for consultancy The Hackett Group. Technology to drive Procurement as a strategic function.

Procurement in 2021: Insights from five leaders

Proxima

Five procurement leaders outline what 2021 has in store. This time last year few procurement leaders would have forecast the challenges that would be thrown their way in 2020. Procurement is expected to be at the centre of making those changes a reality.

Procurement in 2021: Insights from five leaders

Proxima

Five procurement leaders outline what 2021 has in store. This time last year few procurement leaders would have forecast the challenges that would be thrown their way in 2020. Procurement is expected to be at the centre of making those changes a reality.

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. The first two articles covering Bespoke Procurement and Project-based procurement. I, therefore, chose to keep this article at the highest level and explore the nature of category-based procurement.

Solving the Procurement Data Dilemma: Using supplier data to drive successful relationships

HICX Solutions

In our second interview in the series on ‘Solving the Procurement Data Dilemma,’ which supports a full survey carried out by HICX and Raconteur on the subject, Gren Manuel speaks to Richard Wilding, OBE. New demands on Procurement. Procurement for resilience, not just cost.

Data 52

Solving the Procurement Data Dilemma: Using supplier data to drive successful relationships

HICX Solutions

In our second interview in the series on ‘Solving the Procurement Data Dilemma,’ which supports a full survey carried out by HICX and Raconteur on the subject, Gren Manuel speaks to Richard Wilding, OBE. New demands on Procurement. Procurement for resilience, not just cost.

Data 52

Procurement Terminology is a Mess!

Supply Chain Game Changer

Procurement language article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. From one Procurement organization to the next, terminology differs. Procurement is a function, that is undergoing transformation; technologically and ideologically. Maybe we are camouflaging procurement with language: if no-one else understands what we do (or say) we will be safe from being replaced or consumed by other functions.

Supplier Management and Sourcing in the Fashion Industry – Under the Spotlight

Jaggaer

More than virtually any other sector, sourcing and supplier management in the fashion industry have been exposed to intense scrutiny in recent years, while the functions have become of increasingly strategic importance to business success. Supply chains are multi-tiered and therefore difficult to manage. The “fast fashion trend”, which means that collections are distributed in shorter, and shorter periods of time, has transformed the procurement function.

Italy 40

Collaboration will drive future sourcing and supplier management success

ivalua

Historically, if you asked sourcing leaders to name the one competency they felt they needed their procurement and sourcing teams to master in order to achieve ongoing sourcing and supplier management success, most would likely have said negotiation skills. And as time passed, this critical talent has evolved well beyond the ability to squeeze vendors and suppliers down to the lowest price. But collaboration is not reserved for suppliers.

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. Some of these are supported by artificial intelligence, for example to map inbound supplier invoices for automated data entry.

FUTURE OF PROCUREMENT IN TIMES OF COVID-19

Eyvo

What lies ahead for procurement post the changing times? While the danger still looms upon us and the fate of the vaccine is uncertain, it is time we look at the future of procurement and move cautiously. If we are to be pragmatic, digitally led steps towards procurement and working together towards boosting employee confidence is the way to go. Supply chain and procurement have been one of the worst affected since the pandemic began. E-Procurement Software

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.

You Can’t Achieve Procurement Success Without A Strong Foundation

HICX Solutions

When it comes to managing your organisation’s suppliers , it’s likely that one of your main concerns is increasing supply chain efficiency. In fact, according to a survey carried out by PayStream Advisors , 39% of enterprise-level (companies with revenues greater than $2bn) procurement and sourcing professionals listed ‘increasing supply chain efficiency’ as their main aim when it comes to managing suppliers.

Corporate Sustainability: Why Procurement Should Pave the Way

Jaggaer

In it, they redefined the role of business away from simply supporting shareholders, instead stating that a company has an obligation to “protect the environment,” and “deal fairly and ethically with suppliers. ” This shift is just one indication that businesses are increasing emphasis on corporate sustainability amid social and market pressures. Get the details on building sustainable supplier relationships. First and foremost, communication with your suppliers is key.

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. Maybe we are camouflaging procurement with language: if no-one else understands what we do (or say) we will be safe from being replaced or consumed by other functions. Also, Supplier Management isn’t truly under the umbrella of eSourcing despite the common belief.

Procurement Technology – What it can and can’t replace in a Manufacturer’s Journey Towards Supply Chain Resilience and Agility

ivalua

A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. There are many supply chain management lessons to learn from the Covid-19 crisis. Risk & Performance Management.

Collaboration Will Drive Future Sourcing and Supplier Management Success

ivalua

Historically, if you asked sourcing leaders to name the one competency they felt they needed their procurement and sourcing teams to master in order to achieve ongoing sourcing and supplier management success, most would likely have said negotiation skills. And as time passed, this critical talent has evolved well beyond the ability to squeeze vendors and suppliers down to the lowest price. But collaboration is not reserved for suppliers.

Scottish Councils Deliver Streamlined Contract and Supplier Management

Jaggaer

“The automation has streamlined the Council’s contract management and supplier performance processes and as such we feel that this has increased our business efficiency and improved internal and third-party collaboration by reducing operating expenses.” – Tommy Burns, Procurement Project Officer – East Ayrshire Council. B oth councils adopted JAGGAER’s contract lifecycle management software , which complemented their use of (public contracts Scotland) PCS-Tender.

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. Supplier management is, of course, challenging at the best of times, and for a variety of reasons.

Hitting The Brakes On Out Of Control Supplier Master Data W/ Cyrille Naux

ivalua

Managing Director, Art of Procurement. Everything procurement delivers – from savings to risk mitigation to value – is predicated on having access to clean, trustworthy data. If this foundation does not exist or if it is shaky, then buyers don’t know how much the company is spending with a given supplier, let alone how they can improve the efficiency or impact of a given spend category. How 100% spend insight is not the same as 100% spend under management.