Procurement teams continue to evolve, especially as the executive leadership team looks to them for value and competitive advantage in addition to cost savings. Although the procurement value proposit...
One of the reasons procurement has always been a process-driven function is because we are tasked with managing buyer behaviors as much as we are addressing and analyzing spend. Spend is trackable, re...
When it comes to negotiating savings, leveraging volume to take advantage of supplier efficiencies and economies of scale to drive down prices based on forecasted demand has always been procurement’s ...
When SMBs launch, they tend to have informal procurement processes. This informality might work with four to five employees and a handful of customers, but it simply isn’t practical for a growing busi...
What is procurement data? Procurement data includes vendor data, master data, contract data, bills of material, performance data, sustainability score cards, transaction data, purchase order details, ...
In my opinion, realizing you enjoy Thanksgiving more than Christmas is one of the first real signs you’ve reached adulthood. Thanksgiving has all of the food, family, and tradition without the stress ...
On November 11th 1919, the United States recognized the first anniversary of the end of World War I - Armistice Day. By 1938, the day had become a national holiday. In 1954, President Dwight D. Eisenh...
“They all believe they are sourcing strategically; therefore, management does not see the need to provide the proper people, technology, time, and training to effectively manage spend and look for cos...
“Bad best practice is a terrible thing, because it blocks real best practice from being put in place. And it’s a remarkably common phenomenon. Many times, companies truly believe they have done all th...
Procurement organizations employ spend analytics as one of their major tools for proactively identifying savings possibilities, managing risks, and maximizing their purchasing power. Spend analys...
Note: This article was originally post on All Things Supply Chain Every year on July 4th, the United States stops to remember and celebrate the 1776 signing of the Declaration of Independence by Congr...
Author: Ravindran Damodaran Editor’s note: This article is part of the MyPurchasingCenter content archive. It was originally published in 2016 and appears here without revision. Not long ago the corpo...
Author: Tinamarie Rintye, Former Project Analyst at Source One Management Services, a Corcentric Company, now the Manager of Distribution and E-commerce at Esteé Lauder Editor’s note: This a...
“Although the world has changed a lot since 1964, the Ford Mustang has been offered every single year. In 2018, Ford crossed the 10 Million Mustang mark. The pony car is truly a design, engineering, m...
“I don’t think we’re likely to see an adaptation of R.U.R. on the Hallmark Channel anytime soon, but it provides us with a valid reminder that we need to be aware of the implications of embracing tech...
This content was made possible through a collaboration with JAGGAER Procurement is accustomed to thriving in the midst of constant change: always maturing, evolving, and pushing towards the next bigge...
“No industry or country is immune from bad buying; it exists in every nation in the world, and in almost every organization.” - Peter Smith, p. xi Bad Buying: How organisations waste billions through ...
This content was made possible through a collaboration with SAP Procurement “Direct and indirect spend management are not the same thing, nor should they be treated as such. Anyone who ...
Procurement professionals are instrumental to the success of organizations. They are accountable for innumerable initiatives ranging from solicitation to evaluation of suppliers plus everything that falls in between. Procurement has a significant impact on the organization as a whole – congealing its spot at the management roundtable.
Effective and efficient automation of Supply management and Procurement functions can yield fruitful results. Automation facilitates supply management and procurement professionals to make wise decisions through enhanced tools and visibility. It is definitely a reliable substitute for time consuming and costly manual tasks.
