Precoro

DECEMBER 24, 2024

Traditionally, procurement has been a process weighed down by manual tasks, fragmented systems, and endless paperwork. Today, procurement is undergoing a transformation. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact.

Price Reduction 105

Price Reduction Sourcing Strategies Cost Reduction Strategies Expense Reduction 105

SCMDOJO

OCTOBER 27, 2023

Supplier negotiation is the most critical skill in the world of procurement. Effective supplier negotiations do not limit to the best price but a mutually beneficial agreement from both the parties that can have a profound impact on the company. The following are common types of negotiation in procurement: 1.

Negotiate Pricing 105

Negotiate Pricing Negotiating Skills Pricing Training Purchasing Training 105

Talking Logistics

MAY 1, 2023

Read more The post Negotiating With A Chatbot: A Walmart Procurement Case Study appeared first on Talking Logistics with Adrian Gonzalez. More than two-thirds of the respondents (68%) said they weren’t using AI and.

Case Study 270

Case Study Manufacturing Procurement Study Procurement 270

SCMDOJO

FEBRUARY 21, 2025

Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supply chain disruptions, a robust procurement strategy is no longer optionalits essential. The right procurement strategy ensures that organizations: Mitigate risks before they escalate. Want to future-proof your procurement function?

Optimal Sourcing 59

Optimal Sourcing Supply Chain Disruption Vendor Strategies Cost Reduction Strategies 59

Jaggaer

MARCH 24, 2025

Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Negotiating Skills 52

QAD

JANUARY 16, 2025

Despite its success, KION faced significant challenges in managing its extensive supplier network and procurement processes. For the mitigation of supply chain and business risks , we need closer integration and easy collaboration with our suppliers, said Jens Brethauer, VP of e-Procurement & Digitalization at KION.

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Negotiate Pricing Negotiating Skills 52

Procurement Academy

APRIL 24, 2025

Procurement Academy Understand how tariffs affect supplier negotiations, total cost of ownership, and sourcing strategies. Equip your procurement professionals to think on their feet and act with precision when the landscape shifts. Can your procurement team pivot supplier strategies quickly and cost-effectively?

Price Mitigation Strategies 82

Price Mitigation Strategies Cost Reduction Strategies Sourcing Strategies Buyer Training 82

SCMDOJO

FEBRUARY 16, 2025

The Role of Agentic AI in Supply Chains Supply chains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting. Analyzes supplier performance, market trends, and contract terms.

Optimal Sourcing 72

Optimal Sourcing Supply Chain Planning Software Supply Chain Software Sourcing Strategies 72

Precoro

JUNE 3, 2025

Category management isn’t just another procurement trend. What procurement teams need is a clear view of their spend, tighter control, and a strategy that delivers lasting value—exactly what category management provides. Can we consolidate suppliers or standardize specifications?

Manufacturing Procurement 45

Manufacturing Procurement Procurement Analytics Procurement Solutions Material Savings 45

Procurement Academy

APRIL 10, 2025

These changes impact the entire end-to-end supply chain, from planning and procurement to logistics and customer delivery. Teams that understand the nuances of global trade, risk management, alternative sourcing, and supplier negotiations are better equipped to assess impact and adapt fast. From the U.S.

Negotiating Skills 71

Negotiating Skills Buyer Training Agile and Lean Supply Chain Purchasing Training 71

ivalua

OCTOBER 8, 2021

During the pandemic, Procurement flexed its muscle, helping to mitigate supply chain disruptions and enable new channels for engaging with customers and fulfilling orders. Here are four ways leading Procurement organizations can influence retail recovery in 2021 and beyond: 1. Decentralize Procurement. Rethink What’s Normal.

Optimal Sourcing 130

Optimal Sourcing Material Savings Procurement Analytics Procurement Solutions 130

SCMDOJO

APRIL 20, 2023

If you’re eyeing a role as a Procurement Manager (or are looking to hire one), you’re in the right place! As a procurement Manager, you’ll play a crucial role in overseeing the purchasing and procurement process for a company or organization, making sure they get the best bang for their buck.

Negotiating Skills 116

Negotiating Skills Optimal Sourcing Procurement Analytics Manufacturing Procurement 116

Precoro

MARCH 27, 2025

According to McKinsey & Company, procurement accounts for 50% to 80% of a company’s cost base. That’s why organizations zero in on strategies to achieve procurement cost reduction.    The key thing to remember is that cost reduction in procurement isn’t just about slashing expenses.

Cost Reduction Strategies 45

Cost Reduction Strategies Expense Reduction Price Reduction Vendor Strategies 45

SCMDOJO

DECEMBER 11, 2023

In the realm of efficient procurement management, understanding the various types of procurement reports becomes paramount. These reports serve as navigational tools, offering insights into different facets of the procurement process.

Procurement Analytics 21

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 21

MIT Supply Chain

JUNE 13, 2013

A new tool enables procurers to negotiate product prices without bargaining away supplier goodwill. When bargaining with suppliers over a product price, how can procurement professionals secure the best deal without damaging a valued relationship by being overly aggressive? Fair deal. Identify the sub-parts.

Negotiate Pricing 78

Negotiate Pricing Negotiating Skills Purchasing Skills Manufacturing Procurement 78

Precoro

AUGUST 26, 2021

Or procurement? Although quite similar, procurement and purchasing are two distinctive processes , and understanding the difference between them can help facilitate your organization’s success. Scroll down to find: Procurement and purchasing: side-by-side comparison table ; Procurement and purchasing defined. Procurement.

Pricing Training 98

Pricing Training Procurement Solutions Procurement Analytics Purchasing Training 98

SCMDOJO

JULY 3, 2023

In today’s fast-paced and competitive business landscape, organizations across industries are realizing the immense value of effective procurement practices. Procurement professionals play a vital role in driving operational efficiency, cost savings, and strategic decision-making. But how do you get started? Do not worry!

Purchasing Training 98

Purchasing Training Negotiating Skills Buyer Training Manufacturing Procurement 98

SCMDOJO

SEPTEMBER 18, 2023

Whether you’re a seasoned procurement professional or just stepping into the world of sourcing and acquisitions, understanding the nuances of procurement synonyms can make all the difference. So, get ready to elevate your communication skills and gain a deeper understanding of the procurement domain.

Negotiating Skills 105

Negotiating Skills Manufacturing Procurement Optimal Sourcing Pricing Training 105

SCMDOJO

FEBRUARY 26, 2025

While CPI is normally used within project management and earned value analysis, it has significant application and importance within supply chain contexts, particularly in procurement, logistics and warehousing. Example: If a company planned to procure materials worth $100,000 but ended up spending $120,000. A CPI of 0.83

Negotiating Skills 52

Negotiating Skills Optimal Sourcing Negotiate Pricing Cost Reduction Strategies 52

Requis

SEPTEMBER 7, 2023

As data volumes and complexity grow, procurement professionals increasingly recognize the need for accurate and transparent data management. This is essential for managing equipment flow, selecting suppliers, negotiating contracts, and mitigating risks.

Optimal Sourcing 59

Optimal Sourcing Analytics Software Procurement Analytics 59

SCMDOJO

MARCH 12, 2025

Evaluating dependency levels, such as the percentage of business a supplier relies on, can determine how much leverage each side holds. Compromising negotiation is a strategy where both parties make concessions to reach a mutually acceptable solution. Determine Trade-Offs: Understand what can be conceded and what must be protected.

Negotiating Skills 52

Negotiating Skills Negotiate Pricing Price Reduction Cost Reduction Strategies 52

Supply Chain Game Changer

NOVEMBER 24, 2018

For his entire career my Father worked in the field of Procurement. But the job titles that he had during his career alternatively included either the word Procurement or the word Purchasing. But was that Procurement or was it Purchasing? What exactly is Procurement? Procurement. 10 Different Definitions!

Procurement Analytics 76

Procurement Analytics Purchasing Skills Optimal Sourcing Negotiating Skills 76

Supply Chain Game Changer

OCTOBER 15, 2019

Procurement is a core function in every single company. Whether purchasing goods or services to support the company’s product offering or purchasing goods or services to support the infrastructure and operation of the company, Procurement is key. What Exactly is Procurement? What Exactly Is Procurement?

Procurement Solutions 14

Procurement Solutions Purchasing Skills Negotiating Skills Procurement 14

QAD

APRIL 3, 2025

Supplier Management solutions have garnered significant recognition in the procurement industry for their innovative approach and substantial business benefits. This recognition underscores QADs growing influence and effectiveness in addressing the complex needs of todays procurement professionals.

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Negotiating Skills Sourcing 52

Jaggaer

APRIL 9, 2025

Here, well break down what to prioritize in an ERP system, how it connects procurement with production, and why pairing it with a Source-to-Pay solution strengthens supplier collaboration and cost control.

Manufacturing Procurement 52

Manufacturing Procurement Sourcing Strategies Supply Chain Planning Software Supply Chain Design Software 52

Jaggaer

FEBRUARY 5, 2025

These four steps constitute the downstream procure-to-pay part of the process. Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. Secondly come eProcurement, Supply Chain Collaboration, Invoicing, and Payments.

Sourcing Strategies 52

Sourcing Strategies Optimal Sourcing Manufacturing Procurement Negotiating Skills 52

ivalua

MARCH 9, 2023

It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. The last phase of the process, also known as Procure-to-Pay includes the ordering of goods/services, receiving of these, invoicing and payment to suppliers.

Optimal Sourcing 130

Optimal Sourcing Purchasing Skills Sourcing Strategies Sourcing 130

SCMDOJO

DECEMBER 14, 2023

Limited Scope: Offers a more focused and individualized approach to the procurement process. Diverse Expertise: Leverages collective knowledge and resources for a more comprehensive and streamlined procurement process. Streamlining Logistics: Coordinating the logistics of procuring goods internationally involves a multitude of tasks.

Purchasing Skills 104

Purchasing Skills Optimal Sourcing Negotiating Skills Sourcing Strategies 104

Exiger Perspectives

OCTOBER 31, 2024

Brandon Daniels: One of the things that generative AI is doing is it’s making it so procurement and supply chain people are able to bridge a skills gap. Do we have products that are alternatives to that supplier that we can utilize? Arjun Mehta: How is AI impacting supply chain risk management?

Supply Chain Risk Management 52

Supply Chain Risk Management Supply Chain Planning Software Risk Management Supply Chain Software 52

Unleashed

MARCH 21, 2021

The procure to pay process is complex and far more than simply making a phone call, or sending a few emails to arrange the purchase of goods. Strategically approaching the procure to pay process can see your company reap the rewards. In this guide, we’ll cover: What is the procure to pay process. Qualifying suppliers.

Procurement Analytics 59

Procurement Analytics Procurement Solutions Manufacturing Procurement Optimal Sourcing 59

Unleashed

JUNE 8, 2023

Behind every successful product business is a thoughtful procurement strategy designed to optimise the supplier management and purchasing process. This guide answers exactly what is procurement, how procurement works in a business , and which tools and strategies lead to supply chain success.

Procurement Solutions 52

Procurement Solutions Sourcing Strategies Vendor Strategies Material Savings 52

Jaggaer

APRIL 9, 2025

As a leading vendor of procurement technology and solutions to manufacturing companies around the world, JAGGAER is witness to these changes as they happen, and even before they happen. By reducing administrative burdens, AI allows procurement professionals to focus on strategic decision-making.

Inventory Reduction 52

Inventory Reduction Material Savings Manufacturing Procurement Waste Reduction 52

EC Sourcing Group

MAY 17, 2023

Spend classification can often go unnoticed, despite its critical influence over successful procurement strategy. Accurate classification of products, services, and suppliers forms the foundation for improved decision-making, cost optimization, and enhanced supply chain management.

Optimal Sourcing 52

Optimal Sourcing Negotiating Skills Negotiate Pricing Sourcing Strategies 52

Claritum

NOVEMBER 28, 2016

Claritum Article - Procurement Blog. We’ve read through some of the best analyst reports and surveys to bring you this procurement fact file containing some of the most interesting findings, statistics and quotes. Click here to download a printable pdf version of the procurement fact file. Procurement.

Optimal Sourcing 50

Optimal Sourcing Cost Reduction Strategies Vendor Strategies Procurement 50

Unleashed

JANUARY 8, 2024

Procurement management directly impacts your bottom line, making it a critical component of running a profitable product-based business. In this article, we look at the different stages of procurement management. We’ll also explore project procurement management and the relationship between procurement and supply chain management.

Procurement Solutions 52

Procurement Solutions Pricing Training Purchasing Skills Negotiating Skills 52

Procurement Academy

NOVEMBER 17, 2022

In our experience of working with supply chain and procurement organizations around the world, there are three things every organization can do to ensure training not only sticks but becomes a way of work. Tie training to objectives.

Buyer Training 96

Buyer Training Purchasing Training Price Mitigation Strategies Training 96

Precoro

JULY 8, 2022

There is no universal answer to this question, as purchasing process, procurement policies, goals, and volumes differ not only in the industries but even from company to company. There are several undeniable benefits of hiring purchasing managers, as they immediately affect various procurement KPIs. Increased Savings.

Purchasing Skills 98

Purchasing Skills Manufacturing Procurement Negotiating Skills Procurement Solutions 98