Expert insights. Personalized for you.
Digital Procurement article and permission to publish here provided by Katherine Barrios of xeneta.com. The Hackett Group has recently released their analysis of their procurement benchmarking database. It demonstrates the advantages of working with a digital procurement strategy. MORE
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. MORE
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. What’s more, supplier management information is often inadequately integrated with supply chain planning systems. MORE
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! MORE
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. MORE
These rates will have natural implications for smaller shippers seeking to lower overall transportation and freight spend, and paired with a “blurred lines between peak shipping and shopping seasons,” shippers will experience increasing trouble when trying to procure full truckload capacity. The Solution: Shippers Must Use Out-of-the-LTL-Box Strategies Shippers must take a more strategic approach to truckload procurement, explains CH Robinson via Supply Chain 24/7. MORE
The post Strategies, Tips, and Pitfalls of Modern Transportation Procurement appeared first on Logistics Viewpoints. Procurement Transportation Management Systems TMS transportation procurementThe biggest constant in transportation today is changing. It is forcing companies to rethink how they plan, optimize, execute, and collaborate with trading partners. MORE
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. MORE
SEPTEMBER 11, 2020
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 MORE
This, he said, was an example of using procurement to drive competitive advantage and revenue. By building the marketplace, which is powered by Ivalua technology, JLL’s technology and procurement skills are leveraged for the benefits of their customers. He asked stakeholders and procurement staff where they thought the firm was in terms of procurement maturity. He believes that you must “come with a clear procurement value proposition”. MORE
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. MORE
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 MORE
It is imperative that any organization has procedures and systems in place to minimize bureaucracy, error, risk and inefficiencies. A procure-to-pay solution offers a seamless process from point of order to payment. What are the symptoms of poor procure-to-pay processes? MORE
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. MORE
Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Check out this list of 25 Procurement and Purchasing questions and answers. Subscribe Here! Email Address. MORE
It is imperative that any organization has procedures and systems in place to minimize bureaucracy, error, risk and inefficiencies. A procure-to-pay solution offers a seamless process from point of order to payment. What are the symptoms of poor procure-to-pay processes? MORE
Peter Smith, Managing Director at Procurement Excellence Ltd. If Procurement people, functions and organisations are going to be successful, it is obvious that we have to adapt to the changing wider business and social environments. Whilst we might question why there aren’t more CPOs on the Board and so on, there are far more Procurement professionals than 50 years ago, and the profession is much better recognised and established. MORE
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. MORE
Our current healthcare system already requires so much time away from patients. The Hybrent solution, though, is an e-Procurement system that reduces that workflow to a single step. Hybrent doesn’t stop by just streamlining the procurement side. After these paper-based audits are done, all of this information then goes into another system – the accounting software. Blog Articles e-Procurement Invoicing Requisition MORE
New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives. Lack of system integrations and actionable insights are stopping organisations from accurately measuring performance . The study revealed the challenges procurement teams face when it comes to achieving business objectives and the wide and growing gap in performance between advanced and less mature teams. MORE
Diagnostics are a quick yet effective way to gain sufficient visibility into the procurement function, understand gaps and efficiently bridge such gaps through proven methodology?. In times like these, with unexpected disruptions and volatility, procurement diagnostics offer not only an impartial opportunity to evaluate yourself, but also see how you stack up against industry best practices. White Papers Diagnostics Digital Transformation Procurement Supply Chain Transformation MORE
For Procurement leaders in particular there couldn’t be a better time to do so. A recent study by the Hackett Group found that only 63% of Procurement organizations have even developed a plan for digital transformation. A Forrester study on enabling smarter procurement found only 22% believe their reporting and analysis is where it should be and only 22% that they have the required agility to respond to changing requirements. Alex Saric, Chief Marketing Officer, Ivalua. MORE
With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing. MORE
John Cockerill was looking for a unified end-to-end spend management platform to be deployed across 4 business units in 22 countries, helping to reduce administrative tasks for the buyers, improve the fluidity of the procurement process and optimize collaboration between internal stakeholder and suppliers in a highly secure environment. The post John Cockerill selects the Ivalua suite to digitize all processes and cover all spend in one single system appeared first on Ivalua MORE
However, with a simple software-based supplier reconciliation process using procurement analytics in place, an organization can automate this cumbersome process to save hundreds to thousands of man hours every year. Tracking results in the system to improve overall supplier processes. MORE
One of my supply chain and logistics predictions for this year was that the transportation management system (TMS) market will become more barbell-shaped ( mirroring what is happening in the third-party logistics industry ). “We’re The system automates the assignment of drivers to trucks based on a scoring algorithm which evaluates information such as the driver’s current location, personal calendar, and hours of service. MORE
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. MORE
Key factors in the decision were positive user feedback and rapid adoption, demonstrated ease of integration to SAP and other backend systems, robust capabilities and flexibility to cover a diverse range of business activities across multiple geographies and industries. “As MORE
For Procurement leaders, that typically translates into saving a few percent here. For Procurement leaders today, those missed opportunities can be great. But for the most part, Procurement objectives remain too incremental rather than transformative. . So how can Procurement leaders drive such change? Digitization of Procurement and supply chain is an area that is ripe for incrementalism. Procurement Procure-to-Pay procurement supplier relationship management MORE
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. MORE
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. MORE
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). There is no doubt that Digital Procurement is a reality for many organisations. It’s boring, and it’s so not sexy, but everyone knows that adage, rubbish in, rubbish out and this just as true for Digital Procurement. MORE
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. A large amount of focus for these systems has been on return on investment (ROI) calculations. The procurement portal has to have enough transactional volume running thru it. acknowledge the order in the customer’s system and then enter it into your company’s ERP)? MORE
Check out Procurement: The Spend Aggregation Obstacle Course! Aggregating your procurement spend for the purpose of delivering greater value is a sound objective. We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course! MORE
Accurate supplier master data (SMD) is essential for procure-to-pay (P2P) automation, accuracy and analytics, but connecting data to users and systems sometimes gets bumpy. To cover your full master data needs, Procurement should work with all internal stakeholders to map out the supplier lifecycle from end to end. Note that the data model doesn’t need to contain every piece of information on a supplier, but mainly on data that two or more systems must use. MORE
His insights are numerous, and can all be heard in his full podcast episode, but among them is his main focus in 2020, the opportunity presented by agile procurement. Bartolini’s view of modern procurement is one of an industry at a crossroads. While digitalization has dramatically increased procurement performance over the last decade, the function is beginning to approach a plateau. “We’re way that procurement organizations are?organizing MORE
ivalua
SEPTEMBER 15, 2020
Key factors in the decision were positive user feedback and rapid adoption, demonstrated ease of integration to SAP and other backend systems, robust capabilities and flexibility to cover a diverse range of business activities across multiple geographies and industries. “As
ivalua
JULY 21, 2020
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.
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Supply Chain Game Changer
SEPTEMBER 9, 2020
Digital Procurement article and permission to publish here provided by Katherine Barrios of xeneta.com. The Hackett Group has recently released their analysis of their procurement benchmarking database. It demonstrates the advantages of working with a digital procurement strategy.
Logility
SEPTEMBER 16, 2020
However, with a simple software-based supplier reconciliation process using procurement analytics in place, an organization can automate this cumbersome process to save hundreds to thousands of man hours every year. Tracking results in the system to improve overall supplier processes.
Talking Logistics
JUNE 30, 2015
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.
ivalua
MARCH 11, 2020
For Procurement leaders, that typically translates into saving a few percent here. For Procurement leaders today, those missed opportunities can be great. But for the most part, Procurement objectives remain too incremental rather than transformative. . So how can Procurement leaders drive such change? Digitization of Procurement and supply chain is an area that is ripe for incrementalism. Procurement Procure-to-Pay procurement supplier relationship management
|
ivalua
OCTOBER 1, 2019
Peter Smith, Managing Director at Procurement Excellence Ltd. If Procurement people, functions and organisations are going to be successful, it is obvious that we have to adapt to the changing wider business and social environments. Whilst we might question why there aren’t more CPOs on the Board and so on, there are far more Procurement professionals than 50 years ago, and the profession is much better recognised and established.
Logistics Viewpoints
FEBRUARY 20, 2020
The post Strategies, Tips, and Pitfalls of Modern Transportation Procurement appeared first on Logistics Viewpoints. Procurement Transportation Management Systems TMS transportation procurementThe biggest constant in transportation today is changing. It is forcing companies to rethink how they plan, optimize, execute, and collaborate with trading partners.
Talking Logistics
APRIL 7, 2016
One of my supply chain and logistics predictions for this year was that the transportation management system (TMS) market will become more barbell-shaped ( mirroring what is happening in the third-party logistics industry ). “We’re The system automates the assignment of drivers to trucks based on a scoring algorithm which evaluates information such as the driver’s current location, personal calendar, and hours of service.
ivalua
MARCH 31, 2020
New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives. Lack of system integrations and actionable insights are stopping organisations from accurately measuring performance . The study revealed the challenges procurement teams face when it comes to achieving business objectives and the wide and growing gap in performance between advanced and less mature teams.
Cerasis
FEBRUARY 27, 2018
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.
|
ivalua
NOVEMBER 14, 2019
Accurate supplier master data (SMD) is essential for procure-to-pay (P2P) automation, accuracy and analytics, but connecting data to users and systems sometimes gets bumpy. To cover your full master data needs, Procurement should work with all internal stakeholders to map out the supplier lifecycle from end to end. Note that the data model doesn’t need to contain every piece of information on a supplier, but mainly on data that two or more systems must use.
Jaggaer
SEPTEMBER 11, 2020
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
Material Handling and Logistics
OCTOBER 30, 2018
With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing.
Supply Chain Game Changer
JANUARY 9, 2019
Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Check out this list of 25 Procurement and Purchasing questions and answers. Subscribe Here! Email Address.
ivalua
DECEMBER 17, 2018
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). There is no doubt that Digital Procurement is a reality for many organisations. It’s boring, and it’s so not sexy, but everyone knows that adage, rubbish in, rubbish out and this just as true for Digital Procurement.
Jaggaer
AUGUST 18, 2020
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. What’s more, supplier management information is often inadequately integrated with supply chain planning systems.
Logistics Viewpoints
OCTOBER 15, 2015
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.
Cerasis
NOVEMBER 29, 2016
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
Hybrent
MARCH 6, 2019
Our current healthcare system already requires so much time away from patients. The Hybrent solution, though, is an e-Procurement system that reduces that workflow to a single step. Hybrent doesn’t stop by just streamlining the procurement side. After these paper-based audits are done, all of this information then goes into another system – the accounting software. Blog Articles e-Procurement Invoicing Requisition
Supply Chain Game Changer
NOVEMBER 12, 2018
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!
ivalua
MAY 15, 2020
This, he said, was an example of using procurement to drive competitive advantage and revenue. By building the marketplace, which is powered by Ivalua technology, JLL’s technology and procurement skills are leveraged for the benefits of their customers. He asked stakeholders and procurement staff where they thought the firm was in terms of procurement maturity. He believes that you must “come with a clear procurement value proposition”.
Supply Chain Game Changer
NOVEMBER 22, 2018
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.
Supply Chain Game Changer
NOVEMBER 15, 2018
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.
Supply Chain Game Changer
NOVEMBER 15, 2018
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.
ivalua
SEPTEMBER 13, 2020
It is imperative that any organization has procedures and systems in place to minimize bureaucracy, error, risk and inefficiencies. A procure-to-pay solution offers a seamless process from point of order to payment. What are the symptoms of poor procure-to-pay processes?
ivalua
SEPTEMBER 13, 2020
It is imperative that any organization has procedures and systems in place to minimize bureaucracy, error, risk and inefficiencies. A procure-to-pay solution offers a seamless process from point of order to payment. What are the symptoms of poor procure-to-pay processes?
Cerasis
JUNE 19, 2018
These rates will have natural implications for smaller shippers seeking to lower overall transportation and freight spend, and paired with a “blurred lines between peak shipping and shopping seasons,” shippers will experience increasing trouble when trying to procure full truckload capacity. The Solution: Shippers Must Use Out-of-the-LTL-Box Strategies Shippers must take a more strategic approach to truckload procurement, explains CH Robinson via Supply Chain 24/7.
OneSCM
MAY 18, 2015
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. A large amount of focus for these systems has been on return on investment (ROI) calculations. The procurement portal has to have enough transactional volume running thru it. acknowledge the order in the customer’s system and then enter it into your company’s ERP)?
ivalua
SEPTEMBER 15, 2020
John Cockerill was looking for a unified end-to-end spend management platform to be deployed across 4 business units in 22 countries, helping to reduce administrative tasks for the buyers, improve the fluidity of the procurement process and optimize collaboration between internal stakeholder and suppliers in a highly secure environment. The post John Cockerill selects the Ivalua suite to digitize all processes and cover all spend in one single system appeared first on Ivalua
Bristlecone
AUGUST 6, 2020
Diagnostics are a quick yet effective way to gain sufficient visibility into the procurement function, understand gaps and efficiently bridge such gaps through proven methodology?. In times like these, with unexpected disruptions and volatility, procurement diagnostics offer not only an impartial opportunity to evaluate yourself, but also see how you stack up against industry best practices. White Papers Diagnostics Digital Transformation Procurement Supply Chain Transformation
ivalua
JANUARY 22, 2019
For Procurement leaders in particular there couldn’t be a better time to do so. A recent study by the Hackett Group found that only 63% of Procurement organizations have even developed a plan for digital transformation. A Forrester study on enabling smarter procurement found only 22% believe their reporting and analysis is where it should be and only 22% that they have the required agility to respond to changing requirements. Alex Saric, Chief Marketing Officer, Ivalua.
ivalua
APRIL 5, 2019
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.
Supply Chain Game Changer
NOVEMBER 17, 2018
Check out Procurement: The Spend Aggregation Obstacle Course! Aggregating your procurement spend for the purpose of delivering greater value is a sound objective. We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course!
Jaggaer
MARCH 18, 2020
His insights are numerous, and can all be heard in his full podcast episode, but among them is his main focus in 2020, the opportunity presented by agile procurement. Bartolini’s view of modern procurement is one of an industry at a crossroads. While digitalization has dramatically increased procurement performance over the last decade, the function is beginning to approach a plateau. “We’re way that procurement organizations are?organizing
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