EC Sourcing Group

FEBRUARY 8, 2023

From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business. With the new sourcing methods and strategies available in 2023, you can eliminate those hassles and focus on what matters most—growing your business.

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Sourcing Strategies Negotiating Skills 52

EC Sourcing Group

JULY 5, 2022

Spend analysis is a process that identifies, cleans, categorizes, and analyzes your business spend data. The process of spend analysis has specific goals of efficiency and saving money by increasing visibility into spend, which can decrease overall procurement costs. Real-time spend alerts.

Analysis 52

Analysis Analytics Software Supply Chain Design Software Supply Chain Planning Software 52

Logistics Viewpoints

JANUARY 26, 2021

In fact, IT spend as a percent of business capex crossed over the prior ~10 year average in 2019 and we see that trend extending in early 2020.”. Too often, organizations invested in solutions that offer little more than knee-jerk reactions, resulting in net losses. Terence Leung is Senior Director, Solutions Marketing at Blue Yonder.

Agile and Lean Supply Chain 268

Agile and Lean Supply Chain Supply Chain Software Supply Chain Planning Software Supply Chain Strategy 268

EC Sourcing Group

AUGUST 9, 2022

However, sourcing is more than just acquisition—it also involves seller selection, negotiation for contracts, and evaluation of your suppliers over a period of time. But, what makes the best sourcing software for your strategic sourcing solutions ? . What Are the Benefits of Sourcing Software ?

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Sourcing Supply Chain Software 52

EC Sourcing Group

JUNE 1, 2021

How to Master Your Strategic Sourcing Process. Suppose you’re new to strategic sourcing, or you’re just taking a look at your strategic sourcing methodology to ensure that you’re following best practices. Your Strategic Sourcing Process: What Does Strategic Sourcing Mean?

Negotiating Skills 52

Negotiating Skills Sourcing Strategies Optimal Sourcing Negotiate Pricing 52

EC Sourcing Group

MAY 25, 2021

Strategic sourcing and procurement are two words that should always be spoken together, as sourcing is perhaps the most important aspect of procurement. However, you should always ensure that you’re using strategic sourcing best practices and utilizing the best tools available. Curb spending.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Negotiating Skills Analytics Software 52

Precoro

OCTOBER 24, 2022

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. Automation.

Procurement Solutions 98

Procurement Solutions Procurement Analytics Analytics Software Sourcing Strategies 98

Precoro

NOVEMBER 13, 2023

In this article, we'll explain what PPV is, why it matters, and how tracking this metric can benefit your procurement processes. Purchase price variance can be tracked for each separate purchase or for the total procurement spend over specific time periods – for instance, monthly, quarterly, or yearly.

Purchasing Skills 98

Purchasing Skills Procurement Analytics Negotiating Skills Negotiate Pricing 98

EC Sourcing Group

MARCH 9, 2021

There are a lot of moving parts in procurement, and it’s easy sometimes to keep following the same processes you always have because you are achieving moderate success. Change when it comes to procurement, sourcing, and supply chain management makes people nervous. Read on to learn how you can optimize your process.

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Vendor Strategies Cost Reduction Strategies 52

ivalua

JUNE 24, 2015

Big data is more than a buzz term, and if you are a strategic sourcing professional, it is a concept that should not be ignored. Big data is the intersection of all three V’s, which makes it very challenging to support real time analysis for critical decision making.

Big Data 100

Big Data Manufacturing Procurement Sourcing Analytics Software 100

Supply Chain Game Changer

APRIL 15, 2020

As the world around us continues to put the pedal to the metal within the digitalization of business solutions, procurement can’t decide to slow down for every speed bump. While it may seem simple, or mundane, benchmarking the digital solutions on the market should be the first step to any kind of digitalization. Benchmarking.

Procurement Solutions 90

Procurement Solutions Procurement Analytics Procurement Eliminating Excel in Purchasing 90

ivalua

MAY 9, 2023

Ivalua Spend Management Insights [ivory-search] Lost in Public Space: Exploring the Unknown with the Norwegian Public Sector Segment May 9, 2023 | | Public Sector /by he I have spent most of my career in the private sector and started to get in contact with the space in recent years. Where to Start?

Vendor Strategies 246

Vendor Strategies Procurement Solutions Manufacturing Procurement Sourcing Strategies 246

EC Sourcing Group

JULY 29, 2021

eProcurement and eSourcing Solutions For Your Business. One of the most difficult things about searching for eProcurement and eSourcing solutions for your business is finding the right software to truly suit your needs. eProcurement and eSourcing Solutions : Some Must-Haves in eProcurement.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Supply Chain Software Purchasing Skills 52

Supply Chain Network

MAY 15, 2012

Everyone has bad habits, but for procurement, bad habits can put a major dent it in the ROI of your sourcing tools. That’s because strategic sourcing is complex and challenging – success requires more than fancy software purchases. Your next level of questions could include: • How can the sourcing process uncover more spend? •

Purchasing Skills 97

Purchasing Skills Sourcing Strategies Optimal Sourcing Procurement Solutions 97

QAD

MAY 26, 2021

Founded in 1979, QAD began as a small startup solution working with local companies to address a large gap in complete, integrated business software for manufacturing companies. What Solutions Does QAD Offer? The QAD solutions portfolio supports the effective and efficient management of manufacturing operations.

Procurement Solutions 52

Procurement Solutions Supply Chain Planning Software Supply Chain Design Software Analytics Software 52

Supply Chain Game Changer

JANUARY 21, 2020

RFPs become RFSs (Requests for Solution), and people speak less about TCO and more about TVO (Total Value of Ownership). Source: CIPS. Source-to-Pay (S2P) is an End-to-End (E2E) perspective. I do believe S2P is a domain that every sourcing and procurement organization needs to have a handle on. What does that even mean?

Procurement Solutions 87

Procurement Solutions Procurement Purchasing Training Negotiating Skills 87

EC Sourcing Group

JULY 6, 2021

However, figuring out how to become engaged with the strategic sourcing process may have a learning curve if it’s something you’ve never done before. Read on to learn how optimizing sourcing decisions for your business is important, the strategic sourcing meaning , and what you should look for in strategic sourcing software. .

Optimal Sourcing 52

Optimal Sourcing Optimization Software Sourcing Price Mitigation Strategies 52

CormSquare

JANUARY 13, 2017

Not being well-controlled or managed inspite of strategic sourcing and compliance efforts. A significant portion of spend. They use different suppliers between the same category even for the same exact items or services, and there is limited standardization of manufacturers and/or processes and national contracts in place.

Manufacturing Procurement 50

Manufacturing Procurement Purchasing Skills Procurement Analytics Procurement Solutions 50

EC Sourcing Group

JANUARY 12, 2023

Spend Visibility is the foundation of any mature procurement function because it identifies inefficiencies and areas of opportunity that lead to better decision-making and ultimately, better outcomes. While many procurement professionals understand the importance of spend visibility, many struggle with how to achieve it in practice.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Procurement 52

Supply Chain Game Changer

MAY 8, 2019

RFPs become RFSs (Requests for Solution), and people speak less about TCO and more about TVO (Total Value of Ownership). Source: CIPS. Source-to-Pay (S2P) is an End-to-End (E2E) perspective. I do believe S2P is a domain that every sourcing and procurement organization needs to have a handle on. What does that even mean?

Procurement Solutions 50

Procurement Solutions Procurement Purchasing Training Negotiating Skills 50

Supply Chain Trend

DECEMBER 22, 2023

And artificial intelligence (AI) and intelligent agents will be part of the solution. In that order, because we first have to be able to orchestrate and digitize the decision process, including all data, plans, parameters, and decision policies that feed into it, before we can augment or automate.

Supply Chain Planning Software 78

Supply Chain Planning Software Supply Chain Planning Scenario Planning Negotiating Skills 78

EC Sourcing Group

FEBRUARY 23, 2021

Getting the Most from Your Spend Analysis Software. Running spend analysis reports is a very necessary part of procurement, particularly if you want to look for opportunities to improve your spend under management and find new categories to source. However, not all spend analysis software is created equal.

Analysis 52

Analysis Software EC Sourcing Optimal Sourcing 52

ivalua

JANUARY 21, 2020

This additional level of requirement provides a perfect opportunity to leverage the capabilities of technology to communicate and centralize spend and supplier information state-wide. These legacy systems include many different processes, including sourcing, procurement, and payment systems used by the states.

Optimal Sourcing 124

Optimal Sourcing Expense Reduction Resource Reduction Price Reduction 124

Precoro

OCTOBER 6, 2022

To navigate complex and fast-paced markets, an agenda of spend analysis is introduced as a part of the procurement function. Procurement is broadening to include extensive work with spend data. While strategizing , keeping feet on the ground is important, and that's when data comes in especially handy.

Manufacturing Procurement 98

Manufacturing Procurement Procurement Solutions Procurement Analytics Pricing Training 98

Precoro

JANUARY 16, 2023

Keep reading to find out more about: What is spend management? Types of expenditures to consider Difference between spend management and expense management Steps to build a spend management system Importance of spend management Challenges of spend management Risks of poor spend management What is Spend Management?

Procurement Solutions 98

Procurement Solutions Negotiating Skills Purchasing Skills Expense Reduction 98

Precoro

FEBRUARY 27, 2023

Where should you start when you want to create budgets, cut costs, or forecast future spending? The answer is simple: spend analysis. After all, a clear picture of the company's procurement process is necessary to develop a sustainable future strategy and to avoid pitfalls that hold your business back.

Analysis 52

Analysis Purchasing Skills Optimal Sourcing Procurement Analytics 52

Enterra Insights

DECEMBER 2, 2022

Value is derived from analysis. Today, because databases are so enormous, data analysis is more often than not carried out by some form of cognitive technology (aka artificial intelligence). Is there complete fill rate in storage to process all customers?” Is it in an unusable format to be processed?”

Big Data 130

Big Data Quality Data Supply Chain Planning Software 130

SCMDOJO

APRIL 26, 2023

This approach can help organizations streamline their procurement processes, negotiate better deals with suppliers, and ultimately save money. Category management is a strategic approach to procurement, as defined by the Chartered Institute of Procurement and Supply (CIPS). What will a Category Management plan entail?

Procurement Solutions 76

Procurement Solutions Manufacturing Procurement Procurement Analytics Optimal Sourcing 76

Supply Chain View from the Field

JULY 17, 2015

Andrew Cox’s new book “Sourcing Portfolio Analysis” represents the more traditional “power-based” view of procurement. In fact, the subtitle for the book, “Power Positioning Tools for Category Management and Strategic Sourcing” gives it all away. But then again, not everything can be simply labeled in a two by two matrix.

Optimal Sourcing 60

Optimal Sourcing Sourcing Strategies Negotiating Skills Sourcing 60

Jaggaer

OCTOBER 13, 2020

The word design is often something that we associate with aesthetics, but it applies equally to all aspects of technology solutions. I don’t know how many times companies tell me about the hundreds of dashboards and reports they have at their disposal, only to find when I run an analysis of their usage, that only a handful are being used.

Analytics Software 52

Analytics Software Predictive Analytics Analytics Procurement 52

ShipBob

DECEMBER 28, 2022

We’ll walk you through the sourcing process so you can discover, vet, and choose your next supplier or distributor with ease. . What is strategic sourcing? Before you leap into the sourcing process, it’s important to have a strategy in place. The best way to do this is through strategic sourcing.

Sourcing Strategies 52

Sourcing Strategies Manufacturing Procurement Purchasing Skills Material Savings 52

EC Sourcing Group

OCTOBER 19, 2021

However, those who regularly use them as part of their strategic sourcing methodology understand the relationship between reverse auctions and success in strategic sourcing. . The Importance of Strategic Sourcing : Why Are People Scared to Use Reverse Auctions?

Sourcing Strategies 52

Sourcing Strategies Optimal Sourcing EC Sourcing Supply Chain Software 52

ivalua

APRIL 1, 2019

It is either a data input, such as what we gather and use in spend analysis, or it is a process by-product, such as the information we gather from prospective suppliers during strategic sourcing. Procurement needs to gather use-agnostic data about suppliers much sooner in the sourcing process.

Optimal Sourcing 133

Optimal Sourcing Procurement Solutions Purchasing Skills Eliminating Excel in Purchasing 133

ivalua

FEBRUARY 25, 2021

Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? Best-in-class solutions come out ahead in all areas — from user experience, to ROI, to features and functionality that help organizations run world-class healthcare supply chain operations. They both do the same thing, or do they?

Supply Chain Planning Software 221

Supply Chain Planning Software Optimal Sourcing Predictive Analytics Software Supply Chain Software 221

SCMDOJO

NOVEMBER 2, 2023

Expertise: Sourcing, Supply Chain Analysis, Logistics & Transportation, Logistics Management Consulting, Freight (Maritime, Land, or Air), Logistics Technology Solutions. in Management Science, he brings a wealth of knowledge to help your organization optimize processes and enhance supply chain performance.

Supply Chain Design Software 59

Supply Chain Design Software Negotiating Skills Optimal Sourcing Supply Chain Planning Software 59

Logistics Bureau

JULY 21, 2017

While a number of factors are doubtless contributing to the Kmart demise, only a minor amount of analysis is required to identify supply chain misalignment as being one of the primary issues, which the company has never managed to correct. The Failing Kmart Business Strategy. The first Kmart store opened way back in 1962. .”

Cost Reduction Strategies 45

Cost Reduction Strategies Price Reduction Inventory Reduction Vendor Strategies 45

Precoro

MARCH 30, 2022

It’s an overarching term that encompasses various processes of a procurement cycle. Winning procurement strategies outline budgets and actionable steps based on internal analysis and external observations. Risk management strategy minimizes the impact of unfortunate events on the procurement process. Risk Management.

Vendor Strategies 52

Vendor Strategies Sourcing Strategies Cost Reduction Strategies Price Reduction 52