What Does “Good” Look Like: Strategic Sourcing

ivalua

So what does “good” strategic sourcing look like? The primary difference between Strategic Sourcing and “good” Strategic Sourcing is contextualized flexibility. Procurement must be able to apply the general principals of Strategic Sourcing in a way specific enough to maximize the value of each spend category. If Procurement follows a Strategic Sourcing process flow like a checklist, then all Strategic Sourcing projects will start and end in the same way.

How Can Advanced Sourcing Help Your Business?

EC Sourcing Group

Sourcing is the term used when the purchasing department is searching for the right supplier (or group of suppliers) to fill a particular need, typically a good or service, to fulfill a purchasing order. Advanced Sourcing Optimizers and Tools: What Are Your Sourcing Challenges?

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6 metrics tips and tools to benchmark P2P Digital Transformation

ivalua

Use these tips and tools to identify, capture and convert relevant measurements into digital transformation. Digital sourcing tools can help make this a more manageable metric. #3 Digital processes and tools can help ensure solid first-time match rates. . #5 Without a full view to spend and supplier, at the line item level, sourcing organizations limit their reach and impact. Vishal Patel, VP Product Marketing, Ivalua [link].

How Sourcing has Reemerged in a Covid-19 World

Jaggaer

For the first three months after Covid-19 hit, virtually every sourcing project , in every sector , was put on hold while companies tried to assess the situation and how best to deal with the epidemic. Sourcing was in chaos and a topic that concerned many customers was that they were pushing back transportation tenders – and especially any planned mega – bids – while they waited to see how the market would develop. Diversify Your Sourcing Needs.

The Top 5 Reasons You Need a Transportation Sourcing Solution

Talking Logistics

If you are buying widgets, there are many ways to make your purchase, from going to a retail location, ordering online or using a standard procurement software tool that allows you to order lots of widgets and receive them over a specified period of time. Here are the top five reasons you need a transportation sourcing solution: 1. Freight sourcing is as unique and complex as the transportation industry itself.

Want to disrupt your supply chain? Check out this new analytical tool

ToolsGroup

These new connections enable data flows that, if properly exploited, create “information asymmetries” that can be source of new value-added features or capabilities. Brad Householder, Founder and CEO of b2i, spoke at the ToolsGroup TG18 user conference recently and presented an innovative approach to strategically analyze your value chain to focus digital investments. Brad, by the way, comes from a great pedigree.

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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. Sourcing and Procurement in Supply Chain Management : Finding the Right Tools.

Make Better Logistics Sourcing Decisions with Data-Driven Optimization

Talking Logistics

Over the past few years, as supply chains have grown in scale and complexity, so has the logistics sourcing process. Mature sourcing organizations, which have been doing traditional sourcing and category management, are starting to plateau in terms of savings and impact to their organizations, yet each year are faced with increasing savings mandates and pressure to improve performance. Live Episode: Thursday, October 15, 2015 at 12:00 ET.

Responsible sourcing and palm oil – a #ProvenanceLive recap

Provenance

Aim to source 100% certified RSPO (Roundtable on Sustainable Palm Oil). Sourcing palm oil responsibly and sustainably is nuanced and can be complex. The post Responsible sourcing and palm oil – a #ProvenanceLive recap appeared first on Provenance News.

Pandemic Underscores Necessity of TMS and Other Supply Chain Tech Tools

Supply Chain Collaborator

A surge in demand to ship the flood of crude oil unleashed by Saudi Arabia and its OPEC peers is sending freight rates surging and forcing buyers to seek out space on smaller tankers after the largest ones have been booked out, shipping sources said. The post Pandemic Underscores Necessity of TMS and Other Supply Chain Tech Tools appeared first on UltraShipTMS. The Novel Coronavirus pandemic is absolutely playing havoc on supply chains globally and for numerous reasons.

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!

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

Talking Logistics

Supply chain network and transportation optimization can help make better sourcing and multi-stop route decisions that ultimately result in route design that balances low costs with higher service. Companies can set up models of their supply chains to identify major sources of emissions and model different scenarios, quantifying the financial benefit or costs of achieving sustainability goals.

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Top Four Ways to Score Savings Using Freight Optimization Tools

Talking Logistics

Adding a Transportation Management System (TMS) with support for all modes and powerful optimization tools can be a great game plan to help shippers continue to gain efficiencies, reduce costs, and improve service to customers. An optimization tool can help shippers choose the best mode, most economical carrier, rate and route to meet their needs. The tool also allows shippers to save data and results in a single file for future use.

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Customer Service: The Source of Supply Chain Innovation

The Logistics of Logistics

Customer Service: The Source of Supply Chain Innovation. In December’s issue of InBound, editor Keith Biondi cited customer service as the source for supply chain innovation. Some examples of some popular BPR tools are LEAN, Lean Six Sigma, Value Stream Mapping, etc. But BPR is a tool that helps you achieve a specific goal. Customer Service: The Real Source of SCM Innovation. As tools they help you realize your customer’s needs.

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

Jaggaer

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. Charles believes that the limits of Microsoft Excel , traditionally a go-to tool for sourcing teams, have had a lasting impact on sourcing methodologies. “We

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.

Andrew Cox’s “Sourcing Portfolio Analysis”: More of the Same

Supply Chain View from the Field

Against the many new articles and books being produced on the changing face of procurement and the importance of value creation and collaboration, Andrew Cox’s new book “Sourcing Portfolio Analysis” came out earlier this year. The book is essentially a series of prescriptive 2 X 2 and 8 X 8 matrices that establish different typologies for supplier segmentation, that ostensibly can lead to improved sourcing outcomes.

Hits the SPOT: A Look at L’Oréal’s Sustainability Tool

EHS Sustainability Knowledge at Work

This year, Fast Company picked L’Oréal’s Sustainable Product Optimization Tool (SPOT) as a finalist in the ‘General Excellence’ category of its World Changing Ideas Awards. And it’s no mean feat; this is the first tool to calculate the social impact of cosmetics.

Local Sourcing, Global Supply Chain

BluJay Solutions

The recent announcement by Google-owned Motorola Mobility that all new Moto X smartphones sold in the US will be manufactured in Texas, highlights the continued importance of the global supply chain and role of freight forwarders and logistics services providers (LSPs) in successful local sourcing strategies. The post Local Sourcing, Global Supply Chain appeared first on Kewill Corporate.

Measuring Adoption to Drive Sourcing Value

Supply Chain Network

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. If the answer is no, or the training was year’s ago, chances are that the team isn’t leveraging the full functionality of your tools and are leaving significant efficiency and savings on the table. •

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. Let’s examine the source chain in more detail.

Blockchain for Responsible Sourcing – Where Does It Fit?

SupplyShift

Does the vast potential of this promising technology mean that companies of all sizes and stages should be rebuilding their responsible sourcing systems from the ground up to include it? Or is blockchain still an experiment relegated mainly to the process of tracking products from the source through known supply chains, without much to offer companies looking to comprehensively evaluate environmental and social risks within the supply chain?

Technology + Human Touch = Digital Supply Chain Excellence

Gravity Supply Chain

There’s no need to do the maths; we’ve got the answer for you! The post Technology + Human Touch = Digital Supply Chain Excellence appeared first on Gravity Supply Chain.

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New Data Insight and Analysis Tool, BluIQ by BluJay, Provides Real-time, Actionable Data Views into Supply Chain Applications

BluJay Solutions

May 14, 2020 – BluJay Solutions , a leading provider of global supply chain software and services, announces the launch of BluIQ by BluJay, a data and insight analysis tool that offers real-time, actionable supply chain data in a configurable visual dashboard. BluIQ by BluJay is designed to be a decision-support tool that sits across BluJay’s applications, extracting data from each application via APIs.

How Big Data Analytics is Revolutionizing Sourcing Processes for Walt Charles

Jaggaer

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. Charles believes that the limits of Microsoft Excel , traditionally a go-to tool for sourcing teams, have had a lasting impact on sourcing methodologies. “We

Strategic sourcing and ‘big data’

ivalua

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. As a sourcing professional, big data can help you automate and streamline your job – if you have the right tools. To get those tools, you need to understand how big data relates to your day-to-day work. This magnifies drastically when you multiply across all of sourcing, as well as suppliers, engineers, and managers.

Supply Chain Media and partners launch new strategy assessment tool

Supply Chain Movement

Supply Chain Media, Districon, DSV and Nyenrode Business University have deloped a new strategy assessment tool: Supply Chain Satellite. The tool consists of a detailed questionnaire, a sophisticated scoring model and an in-depth analysis covering all possible logistics outsourcing strategies. Minimising the logistics cost as part of the final selling price of your product represents an important source of competitive advantage.

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COVID-19 & SCM – Importance of Operations Management to Overcome the Limitations of Data-Driven

Arkieva

An often-heard theme in supply chain management (SCM) and COVID-19 is “data-driven” – being data-driven is the path to success. For COVID-19 “science-driven” is often said in the same sentence. For SCM demand or customer-driven replaces “science”. This blog will point out a few examples in the COVID-19 challenge demonstrating COVID-19 is an OM challenge.

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Change Management in Moving from Tactical to Strategic Sourcing

Supply Chain View from the Field

I had the opportunity to host a panel of Chief Procurement Officers at the Zycus Horizons 2015 meeting on October 5, 2015, on the subject of the journey organizations take in moving from tactical to strategic sourcing. We are moving to a model where we focus less on the tactical things and the strategic sourcing, and are looking at revenue drivers around innovation to create a more sustainable model.

Sourcing promotional products the right way

Claritum

Promotional merchandise is a valuable marketing tool that can help to establish brand awareness of a company among consumers. However, it is important for companies to manage the process of sourcing promotional goods effectively. A lot of time and energy can be spent inefficiently sourcing the goods, which can be bought from a huge variety of suppliers at vastly differing prices and quality. Source: PPAI Sales Volume Study Summary. Sourcing off catalogue.

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

ivalua

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. S2C suites offer the software tools to achieve these objectives.”. Sourcing Uncategorized Source-to-Contract

Sourcing Analytics Combined with Relationship Management is Key for Automotive Suppliers

Supply Chain View from the Field

In fact, automotive OEM customers only allow design changes once a year, which means that any changes in supplier source, specification, tooling, or any other element of process or design production has to be accumulated and implemented all at one time! In the world of automotive electronics, relationship management supported by strong sourcing analytics is a way of life for some time to come! I spent some time visiting this week with Sensata in Aguascaliente Mexico.

Supplier Management and Sourcing in the Fashion Industry – Under the Spotlight

Jaggaer

More than virtually any other sector, sourcing and supplier management in the fashion industry have been exposed to intense scrutiny in recent years, while the functions have become of increasingly strategic importance to business success. For example, a small up-market Italian or French brand will need to contend with issues such as whether to encourage ethical suppliers in Asia, or to “near-source” from Eastern European, or to local source from nearby artisanal producers?

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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. For the past two years, this mission has been an integral part of my new position as Director of Tools, Methods and CSR Group Purchasing.

Getting The Most From Your E-Sourcing Software

ProcurePort

What Is E-Sourcing? E-sourcing software is essentially a secure, web-based tool created by procurement professionals and entrepreneurs alike to assist procurement businesses around the globe. e-Sourcing Software