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Why Procurement Management Tool is a Must for Efficient Purchasing

Precoro

Procurement is a complex and dynamic process involving strategic planning and several stages of execution, from sourcing to paying and reporting. Supply chain management, purchase requisitions and orders, budget management, and three-way matching – all these processes are integral to procurement as a whole.

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Artificial Intelligence: Procurement and Legal’s “New Frontier”

Proxima

Firms recognize the potential AI has to uproot the traditional way legal suppliers manage their corporate in-house work. And what for procurement teams? Procurement, when developing a cost analysis of a supplier firm, will need to consider alternative fee arrangements such as flat fees or activity value-based costing models.

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Procure-to-Pay vs. Intake-to-Pay: What You Need to Know

Precoro

The procurement landscape is ever changing, and recently, in contrast to the traditional procure-to-pay platforms, we have seen the emergence of a new type of software solution, intake-to-pay, which is marketed as a more comprehensive solution. But hold on: are we sure that wasn't all possible with procure-to-pay, anyway?

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Top 5 Sourcing and Procurement Techniques

EC Sourcing Group

Top 5 Sourcing and Procurement Techniques. With sourcing and procurement , a solid strategy is essential to ensure that your ROI is strong, your relationships with your suppliers are doing well, and that your team appropriately supports your stakeholders and company’s overall goals andobjectives. .

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Autoliv’s Supply Chain Risk Management Journey

Logistics Viewpoints

in turn, is a boutique procurement consultancy. The main take aways from the presentation earlier this year were the following: The auto industry has made supply chain risk management a priority since the Fukushima nuclear disaster in 2011. This is our “supplier board”. Soon we will do more training. Any final thoughts?

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How to Manage Supplier Risk and Performance in an Uncertain Global Economy

ivalua

A better way of looking at those relationships is as partnerships—albeit ones that require management and alignment of objectives first and foremost, but ultimately mutually beneficial relationships. The job of procurement is to ensure performance is as promised, risk is low and business objectives are being met through collaboration.

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A guide to digital supply chain management

Taulia

Key digital supply chain features Virtually all aspects of supply chain management can be digitalized. That said, there are three areas that are most often prioritized in digitalization projects: supplier management, inventory management, and the accounts payable/receivable functions.