How Can Advanced Sourcing Help Your Business?

EC Sourcing Group

While procurement often is a blanketed term that refers to the entire process, procurement technically refers only to the execution of a contract between a supplier and purchaser (or the organization who is procuring the service or good). .

New Supplier Registration Process – E-Sourcing

TPSynergy

As part of the Supply Chain Management, an important task of the sourcing team is to identify and Onboard new suppliers regularly. Many information need to be collected and recorded for future reference and evaluation. What is a Vendor Registration Portal?

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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. It refers to the entire process of sourcing and contracting with suppliers to gather all of the services and goods you need to make that final product. Sourcing is but one step in the procurement process.

A Tale of Two Procurement Books: Cox’s Sourcing Portfolio Analysis (Cox) & Strategic Sourcing in the New Economy (Keith et al.)

Supply Chain View from the Field

Andrew Cox’s new book “Sourcing Portfolio Analysis” represents the more traditional “power-based” view of procurement. The book relies on a series of prescriptive two by two matrices, that are further segmented into eight by eight matrices, that establish different typologies for supplier segmentation, The application of these frameworks to the universe of buyer-seller relationships I proposed (ostensibly) to lead to improved sourcing outcomes…for the buyer!

Sourcing Offices: a shift of paradigm

KEPLER Consulting

Over last decade, sourcing offices became a major piece within globalized footprint of western retailers. After a first era of development and opportunity catch up particularly positive and characterized by consistent purchasing gains , most of these Sourcing Offices are now searching for their second breath. Back to the origins, the Sourcing Offices have been developed by retailers for two main reasons: #1 Gather demands coming from various entities within a same group.

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

We need to look at alternative sources of procurement, of production, alternative factories, alternative countries. In the longer term he says they are focused on “Diversification of sourcing, reducing the dependence of single-source suppliers, and developing relationships with the key partners or IT [vendors] … and invest like no other into demand planning and control towers to give us the most fine-tuned information,” and ability to start making “crystal-ball like” predictions.

Uncovering New Sources of Revenue in the Public Sector

ivalua

Innovating to Uncover New Sources of Revenue in the Public Sector. Step 1: Use eProcurement Systems as a Potential Source of Revenue. Thinking of procurement as a new source of revenue is certainly counterintuitive, but it fits the bill of thinking differently.

Successful sourcing in China using the START model

Supply Chain Movement

“Catch the goat when it’s passing” is one of my favourite Chinese sayings, and it is particularly apt when you’re looking to source new products or materials in China. That’s right: that I had not yet found my supplier for the job, and that this supplier had very little experience in producing the product I wanted to source. R) Reference list of clients – The perfect scenario is to have a list of the supplier’s other clients.

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Sorting out Risk in FinTech Source Chains

NC State SCRC

But emerging technology is now beginning to create new ways to think about sourcing risk, which in the past has been a very manual, encumbered process. This has caused banks to look at the flow of activities in the “source chain”, which refers to the way that third parties use bank data for different opreations. Today, this end to end sourcing process has literally hundreds of different steps in the process.

How Big Data Analytics is Revolutionizing Sourcing Processes for Walter Charles III

Jaggaer

Operating in the pharmaceuticals sector, he uses clinical trials as a point of reference, noting that it currently takes about two years to find 2,000 patients for a trial. Sourcing with Big Data. Walter Charles’s philosophy on the modern state of sourcing is that it is artificially limited by the tools that teams are using. The traditional three bids and a buy model is a product of software constraints, rather than the ideal method of sourcing.

Ivalua Cited as a ‘Leader’ in Source-to-Contract Technology by Independent Research Firm

ivalua

Report notes top customer reference scores for usability, implementation and ongoing support . in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.” Ivalua is now the only vendor positioned as a Leader in four separate reports — the Gartner Magic Quadrant for Strategic Sourcing Application Suites, Gartner Magic Quadrant for Procure-to-Pay Suites, The Forrester Wave™: eProcurement Platforms, Q4 2019 and this report. Sourcing Uncategorized Source-to-Contract

How to ride the Source to Pay Wave? 4 Lessons you can learn from Forrester

ivalua

Last year Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave : Source-To-Contract Suites, Q4 2019. It covers spend analysis , sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s Strategic Sourcing Application Suites Magic Quadrant. The post How to ride the Source to Pay Wave?

Your Guide to Procurement and Sourcing Software

EC Sourcing Group

Then, better computing and the Internet came along with the most basic types of procurement sourcing software , perhaps the first and most flexible: spreadsheets. Procurement and Sourcing Software Types . Also referred to as ‘supplier onboarding’ or ‘supplier registration.’

How Big Data Analytics is Revolutionizing Sourcing Processes for Walt Charles

Jaggaer

Operating in the pharmaceuticals sector, he uses clinical trials as a point of reference, noting that it currently takes about two years to find 2,000 patients for a trial. Sourcing with Big Data. Walt Charles’s philosophy on the modern state of sourcing is that it is artificially limited by the tools that teams are using. The traditional three bids and a buy model is a product of software constraints, rather than the ideal method of sourcing.

Ivalua Cited as a ‘Leader’ in Source-to-Contract Technology by Independent Research Firm

ivalua

Report notes top customer reference scores for usability, implementation and ongoing support . in “ The Forrester Wave™: Source-to-Contract Suites, Q4 2019.” Ivalua is now the only vendor positioned as a Leader in four separate reports — the Gartner Magic Quadrant for Strategic Sourcing Application Suites, Gartner Magic Quadrant for Procure-to-Pay Suites, The Forrester Wave™: eProcurement Platforms, Q4 2019 and this report.

Procurement Cockpit – Strategic Sourcing KPIs

EC Sourcing Group

Today I will focus on KPIs that can provide deep insight into the efficiency and effectiveness of your operations, strategic sourcing efforts and how procurement systems are viewed internally. Each KPI should have a benchmark or reference point of comparison. Last week I suggested that a procurement cockpit is an essential tool to manage your business in 2019.

Parts Are Not Parts

Supply Chain Shaman

A slight change within a function–in sourcing or manufacturing, or along the chain–can greatly impact the outcomes of cost, customer service, or working capital. Let’s take a closer look at sourcing. The more planners and the greater the sourcing complexity, the larger the issues requiring a new level of decision support for operations planning. How do purchases from multiple material planners affect sourcing schedules from a supplier?

How Locally Grown Products are Disrupting F&B Manufacturing

QAD

That trend has been referred to by a number of terms, such as “buying local” and “eating local”. It means buying food that is sourced and/or grown within a geographical location that could be considered “local”. Though, when a food or beverage product is labeled as “locally grown”, the “local” part usually refers to an area of about 150 miles. The “locally grown” movement has been fueled by the perception that locally grown, produced and sourced foods contain many benefits.

Our take on Gartner’s 2018 predictions for procurement and sourcing technology

Xeeva

In Gartner’s recent annual report, they discuss their predictions as to what will have a great impact on procurement and sourcing technology in the coming year and how the market will change over time. One thing that is definitely clear – the procurement and sourcing market is evolving quickly as technology continues to advance. Why are these at the forefront of procurement and sourcing? He reduces the steps involved in managing your sourcing and procurement.

7 Use Cases for Hyperledger in Supply Chain

Supply Chain Shaman

I believe we need to move to Open Source tech. This transition from closed and proprietary solutions to open source capabilities will not happen quickly. The Hyperledger project is an Open Source blockchain platform. Our goal is to test the open source version from IBM in the digital sandbox/lab environment at Schneider Electric. It lacks the system of reference of division/company or company/industry. Hyperledger. Blockchain. New concepts? Get used to it.

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PRO Point of View: Pascale de Felix, Global Sourcing Director – Methods, Tools & Responsible Sourcing at the Bel Group

EcoVadis

Global Sourcing Director – Methods, Tools & Responsible Sourcing (Bel Group). She is the Global Sourcing Director – Methods, Tools & Responsible Sourcing, and she has 10 years of experience in Responsible Purchasing. I have been working as a CSR referent for several years in addition to my position as head of purchasing for non-production goods and services.

Will You Be Able to Drive Your New Sourcing Platform in a Week?

EC Sourcing Group

Shouldn’t you be able to drive your new sourcing platform in 5 working days or less? This may be a recurring nightmare for you as you evaluate multiple sourcing tools. Ask to speak to a power and a casual user at two client companies – consider these to be references. The sales rep might have assured you that you can. The demo made it look easy to navigate. Your power users loved all the cool features. Even casual users gave a thumbs up.

Customers demand more sustainable supply chains

Supply Chain Movement

Sustainable sourcing is a fast developing requirement, driven by customers. Luca Crisciotti: “Sustainable sourcing is a fast developing requirement, driven by customers.” Companies are hindered from progressing on sustainable sourcing for two reasons: economic shortages and the lack of a clear and harmonized frame of reference. Trends brand reputation competitive advantage customers GFK Eurisko Luca Crisciotti market share sourcing suppliers Sustainabilit

Sales Can Use RACI Charts to Understand Procurement… and vice versa!

NC State SCRC

RACI stands for Responsible, Accountable, Consulted, and Informed – which refers to the relative governance structure that exists in an organizational relationship. In less mature organizations, the sourcing decision will be more ad hoc, will be typically led by decision-makers in the business unit, and the textbook approach of working through business stakeholders at a local level makes sense. Do they have a formal strategic sourcing program?

Is the FAR getting in the way of Early Supplier Involvement in defense projects?

NC State SCRC

defense firms tend to follow a traditional “white box” sourcing approach, as shown in this figure. Much of the sourcing behavior involved in standard defense industry practices is tied to establishing “price reasonableness” in accordance with FAR 15.403 (FAR, 2005). On a broader scale, the General Accounting Office (GAO) has identified strategic sourcing across multiple tiers of the supply base as a key defense acquisition deficiency (GAO, 2006).

Sales, Inventory & Operations Planning – What It Is and How to Operate

USC Consulting Group

The term “planning horizon” refers to how far ahead you need to establish your plans. Lean Manufacturing Material Utilization Process Improvement Spend Management Supply Chain Business Strategy Inventory Management Manufacturing Resource Planning Planning and Scheduling S&OP Sales & Operations Planning SIOP strategic sourcing Supply Chain Optimization

Re-thinking supply chain risk: Protection at any cost?

Supply Chain View from the Field

Many companies have Enterprise Risk models that they use in their organization that is typically a common format that can be used across different functions to refer to risk. Second, the ability of the supplier to raise prices was limited and in fact likely to decrease when a single source contract was established. A simple set of actions, for the key strategic suppliers (often 40 or less) mitigates almost all of the real sources of risk.

“Never Break the Chain” – 5 Ways to Mend a Broken Supply Chain (infographic)

USC Consulting Group

Use strategic sourcing by partnering with multiple suppliers to ensure a consistent flow of products. You can Go Your Own Way , but then we may not be able to stop making Fleetwood Mac references and all of your Dreams may not come true.

Lessons from the Latest Forrester Wave Reports

ivalua

This month Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave™: Source-To-Contract Suites, Q4 2019. It covers spend analysis, sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s Strategic Sourcing Application Suites Magic Quadrant. Alex Saric, CMO, Ivalua.

Report 109

Patrick Hopkins at Coupa: Coca Cola’s four truths of procurement to pay in action

Supply Chain View from the Field

This refers to the ability of the search engine to find the part using keyword searches in a description field. Contract Management Procure to Pay Strategic Sourcing Supply chain analytics Supply Chain Innovation

Bo Andersson’s Supply Strategy Collides With Vladimir Putin’s Russia: The Performance Triangle Collapses

NC State SCRC

Performance related to the QSTP dimension, and Price was obvious – but Place referred to the local relationships that existed between suppliers and purchasing. I will note that when these principles were introduced on my visit to China with Shanghai Automotive in 2000, the Chinese were very receptive to the concept, and recognized the importance of competitive sourcing to drive cost, quality, service, and technology improvements.

Future of Procurement Study Available

Supply Chain View from the Field

Charles Babbage’s book on the economy of machinery and manufacturers, published in 1832, referred to the importance of the purchasing function. Strategic Sourcing Supplier Relationship Management Supply chain Relationships Supply Chain Talent Supply Chain Talent Management Supply Market Intelligence I recently completed a study of 25 CPO’s, each providing their view of what procurement will look like in 2025. You can download the full report at this link.

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Melitta: Collaborating for an Improved Forecasting Process

ToolsGroup

S&OP refers to the cyclical process of aligning business activities that inform an organization’s sales and production planning. Melitta is a household name for anyone who drinks coffee, but the Melitta Group’s business activities extend far beyond drip filters for your morning brew.

Invoice Hub – the Next Horizon for AP Automation

ivalua

Surely with the convergence of the procurement silo’s into the one Source-to-Pay journey, Ivalua could make the impossible come true for Accounts Payable – and we have!

Clouds are Gathering for an Open Platform for Supply Chain

ToolsGroup

Cloud has evolved to provide the ideal infrastructure and platform for hosting multiple supply chain partners to collaboratively offer optimized services including planning, logistics, sourcing, procurement and service parts management.