6 metrics tips and tools to benchmark P2P Digital Transformation

ivalua

Data is beyond critical to Procurement Operations. It’s everything, and the burden falls on procurement leaders to capture pertinent data to build good teams, track performance and show value. Now with Digital Transformation as a mandate, Procurement officers must also find ways to measure their digital progress. Here’s a look at some of the Procure- to-Pay metrics procurement leaders should watch in order to better understand their digital progress.

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

ivalua

What does this mean for procurement and supplier management? Working collaboratively is often complex, involving internal stakeholders beyond the procurement function too, which highlights another critical success factor – the need for effective programme and project management.

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4 ways IT & Procurement team collaboration increases resilience

ivalua

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.

Establishing Procurement as a Competitive Advantage

ivalua

In my previous posts, I looked at how to successfully launch a digital transformation and progress to best-in-class Procurement. Procurement was tasked with supporting a board level initiative to accelerate innovation and increase margins. Leaders need to be more ambitious if they are to truly establish Procurement as a source of strategic value. The same applies to Procurement. The post Establishing Procurement as a Competitive Advantage appeared first on Ivalua.

Top 8 Online Logistics Tools For Logistics Professionals

Cerasis

Logistics professionals require exemplary international online logistics tools to help them carry out their daily businesses with ease and deliver the best for their customers. Mobile phones can offer incredible services in any business from inventory tracking and shipments to the execution of procurement transactions. Top 8 Online Logistics Tools For Logistics Professionals. This optimization tool for inventories is cloud based.

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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.

New tool for 3PL outsourcing

Supply Chain Movement

The new, online tool called Supply Chain Satellite provides objective insights into a company’s logistics procurement strategy and hence supports decision-making related to logistics outsourcing. The global launch of this decision-support tool was held on 17 March during Districon’s Physical Distribution Forum in Utrecht. The Supply Chain Satellite tool uses a four-quadrant model to visualise a company’s position within the strategic landscape.

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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. Use External Benchmarking Tools. Many suppliers and manufacturers may have existing, internal analytics tools, but using these tools for benchmarking processes may be ill-fated. Internal tools have a way of making the company appear better than it truly is. Consider Cyber Security Concerns in the Procurement Supply Chain.

How Can Supply Chain Leaders Use Big Data as a Tool to Continuously Improve?

Cerasis

Transportation modes used in procurement and shipping. As explained in a previous blog post, continuous improvement in an organization can be achieved through the use of performance measurement tools via big data. Twitter Facebook Google+ LinkedIn The post How Can Supply Chain Leaders Use Big Data as a Tool to Continuously Improve?

Why Agility and Creativity are the New Vital Procurement Drivers  (but don’t sacrifice “effectiveness”)

ivalua

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.

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. Thanks to artificial intelligence (AI) and robotic process automation (RPA), process-mining tools can be used to reshape and analyze all kinds of processes.

The Hitchhiker’s Guide to Digital Procurement!

Supply Chain Game Changer

Digital Procurement article, and permission to publish here, provided by Sam Jenks at kodiakrating.com. It’s important that procurement teams take into account the new risk reality and challenges that face them, their organizations and their value chains. Operational procurement?

Lessons from Leaders: Tools and Tactics that Drive Sustainable Procurement ROI

EcoVadis

Data from this year’s Sustainable Procurement Barometer shows there’s a clear ROI for moving along the sustainable procurement maturity curve. . The common thread across all successful programs when it comes to speeding an organization’s path to business value is through finding the right mix of tools and activities to successfully engage suppliers in sustainability. Use of tools & Incentives: Methods used to drive engagement .

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8 Tips to Help Procurement Optimize Supplier Master Data

ivalua

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. To get the full view of your master data needs, Procurement and other internal stakeholders should map out the end-to-end supplier life cycle.

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7 Tips: A Guide to Mastering Procurement

Material Handling and Logistics

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.

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.

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.

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). 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.

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. 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.

Modern CPOs on their way to Smart Procurement

ivalua

Last week, the Ivalua team attended an interesting CPO Round Table organized by the CIPS MENA in Dubai on the theme “Enabling Smart Procurement Today.” What we can notice is that the application of Smart procurement technologies is becoming key for them to think strategically, act quickly and take the right decisions at the right moment in a permanently evolving environment. The post Modern CPOs on their way to Smart Procurement appeared first on Ivalua.

Methods for Managing Procurement Risks

EC Sourcing Group

Methods for Managing Procurement Risks. There is always some level of risk when it comes to contract management in procurement. There are many risks in all stages of the supply chain, of which procurement is only a portion. Identifying these risks before they become a problem can help you seamlessly work your way through the procurement process more safely. What Is Contract Management in Procurement? . M ethods for Managing Procurement Risks: Evaluating Risk.

Sourcing and Procurement in Supply Chain Management

EC Sourcing Group

Sourcing and Procurement in Supply Chain Management. The terms “ sourcing” and “procurement” in supply chain management are often used interchangeably, although they are not quite the same. Procurement is a process and one link in the chain of the supply chain. Procurement is one step in that process. Procurement involves finding the suppliers, signing contracts, placing purchase orders, receiving the goods, and evaluating the experience after receiving the goods.

Challenges Facing Procurement Leaders

Material Handling and Logistics

From limited visibility beyond their tier-one suppliers to teams that don't have the capabilities to deliver on the strategy, procurement officers have their work cut out for them. A clear vision is a necessity to manage a global supply chain, yet 65% of chief procurement officers report having limited visibility beyond their tier-one suppliers, according to a new survey from Deloitte. There’s no doubt that digital is a game-changer in procurement," said Michael Daher, U.S.

PROCUREMENT KEY ISSUES 2019: Leveraging Digital Tools to Expand Procurement’s Capabilities

ivalua

The post PROCUREMENT KEY ISSUES 2019: Leveraging Digital Tools to Expand Procurement’s Capabilities appeared first on Ivalua

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Ivalua NOW Part 2 – Re-Imagining Offices and Transforming Procurement

ivalua

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”.

Transportation Network Modeling: A Powerful Tool in Greenhouse Gas Emissions Reduction Strategy

Talking Logistics

With 40 percent of GSK’s carbon footprint coming from the procurement of raw materials, the company recognised that tackling its own emissions wouldn’t be enough to reduce its carbon footprint – it would need to support suppliers to do the same. Companies need to be fully aware of global climate change conversations and how they will impact their supply chain in the near future.

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MACHINE LEARNING AND PROCUREMENT

Eyvo

MACHINE LEARNING AND PROCUREMENT. Importance of Machine Learning in Procurement. Procurement, on the other hand, has been famously known to increase efficiencies and time and cost savings. Digital procurement has automated the processes and has abolished the tedious methods of traditional procurement. Therefore, procurement is already familiar with such technological advancements and adopting machine learning could be a welcome change.

Procurement Experiences, Trends and the Future!

Supply Chain Game Changer

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.

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.

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.

The Benefits of Procure-to-Pay

ivalua

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? You need a procure-to-pay process if your organization is guilty of the following: Frequent duplicate payments. Procure to Pay

The Benefits of Procure-to-Pay

ivalua

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? You need a procure-to-pay process if your organization is guilty of the following: Frequent duplicate payments. Procure to Pay

How to Procure Full Truckloads in Tight Capacity

Cerasis

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.

e-Procurement tools preferred to ERP systems

Supply Chain Movement

E-Procurement is an essential part of the Purchasing professional toolbox with nearly 90 percent of large companies being equipped with a dedicated tool. 86 percent of the Trending in Procurement panel say their company has deployed an e-Procurement tool. “E-Procurement tools are designed to support corporate procurement strategy.

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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. For companies of this size and influence, supplier adoption of the procurement portal simply becomes a criteria for inclusion in the company’s approved vendor list (AVL).