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In last week’s blog , I began discussing telltale signs that you have entered the new age of strategicsourcing. Leading manufacturers have proven that best-in-class strategicsourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.
If you happen to be a strategicsourcing professional within the manufacturing industry, you probably are experiencing many challenging days at the office. The post Want to be a StrategicSourcing Rising Star? And the C-suite knows just who to come see and hold responsible when such events occur. Think New Products.
However, few manufacturers ever sit back and ask, “How can our procurement or strategicsourcing initiatives contribute to the overall customer experience?” I would argue that, if you’re in manufacturing, strategicsourcing is the first place to start shaping the customer journey.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategicsourcing.
In this blog post, we will explore how sustainable procurement practices can help organizations reduce greenhouse gas emissions and achieve their sustainability goals. Developing and executing category strategies is critical to effective strategicsourcing.
A frequent thought leadership contributor for the Ivalua Blog, Jarrod has worked across multiple industries, including higher education, public sector, retail, manufacturing, and engineered products.
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity.
Engaging suppliers in strategicsourcing events and collaborative cost improvement efforts will ensure that purchased component costs are appropriate to achieve targeted gross margins. Maturity and Decline: Drive Ongoing Innovation and Maximize Margins.
“Clearly, there was insufficient market research conducted to understand how many contractors would propose, and how fully qualified they would be based on the selected source selection strategy,” said Mike Smith, former director of strategicsourcing at the Homeland Security Department and now executive vice president at GovConRx.
attempt to make a point about the relative value of strategicsourcing, I failed to realize that thought leadership is apparently the exclusive domain of pundits. This reminded me of a prior post I wrote about the subject and I wondered if Pierre was writing about me. If so, in my (imperfect?)
No support for strategicsourcing: ERP systems don‘t offer support for strategicsourcing, which is critical for optimizing spend and driving savings. They’re not tied in to co-op and piggyback sourcing opportunities, and they can’t bring all your sourcing data together to help you make better purchasing decisions.
To mark the occasion, I’m hopping onto the blog to reflect on our journey — to think about how far we’ve come and where we’re headed. Today I’m proud to commemorate the 10-year anniversary of Bonfire and, with it, the incredible clients and team who have made our success possible. Reflecting on the journey.
Our panelists included: Hend Salem , Manager of StrategicSourcing – Non Clinical at The Ottawa Hospital Carol Izzio , Director of Procurement at Sheridan College Christine McParland , Director of Residence and Ancillary Services at St. “We It’s not a procurement policy, it’s a corporate policy.
Technologies such as strategicsourcing, procure-to-pay or full source-to-pay that are instrumental in managing spend must empower versus limit. This blog was originally published by Procurious on their amazing blog. The post A Rare Opportunity To Reset And Accelerate appeared first on Ivalua.
If you work in strategicsourcing and supplier management, supplier collaboration enables you to achieve (or beat!) The value created here is a higher return on innovation investments, product leadership in the market, and top-line revenue growth. the bill-of-materials target cost through the entire product lifecycle.
But now with strategicsourcing and category management, the process has become much easier to track, monitor and control. Add sourcing workflow to the mix, and introduce machine learning that can link directly to the supplier and track savings, then you can start to see where the science comes in. appeared first on Ivalua.
A frequent thought leadership contributor for the Ivalua Blog, Jarrod has worked across multiple industries, including higher education, public sector, retail, manufacturing, and engineered products.
For our discrete manufacturing market, that means reducing product costs, driving margin expansion and extracting greater value from supplier relationships via superior strategicsourcing and supplier management.
When incorporated into an efficient strategicsourcing process, collaboration can result in better visibility into total costs and a better negotiation position. Collaboration around margin enhancement. Product cost management over the life cycle of the product is required in order to meet financial performance goals.
Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. About 60 Procurement Managers, Directors, and Executives attended from top medical device manufacturing companies.
Take a look at Directworks and get a handle on what has proven to be possible when it comes to collaborating and engaging the right suppliers early and often in your strategicsourcing, product innovation, and launch cycles. Tha-Tha-That’s all Folks! The post Pigs Get Fed; Hogs Get Slaughtered appeared first on Directworks.
As I write this blog, the COVID-19 pandemic continues to ravage populations and economies around the world. And 91% of advanced organizations managed all spend via category management and strategicsourcing processes vs. 16% of beginners. As far as reviewing supplier performance regularly, the results were 97% versus 17%.
In a recent Sourcing Journal Online article, Sourcing is Hard , Mike Todaro, managing director of the Americas Apparel Producers’ Network, quotes Barbara Zeins, an industry expert that published a short list of “9 Big FAT Garment Lies,” which we might as well call “Global Sourcing Lies,” more generally.
The second set of rules, which are the subject of this blog, are issued under Title 48 and will be placed in DOD contracts and refer back to the Title 32 rules. Office of Management and Budget (OMB) is reviewing the final regulations, with release expected before the end of the year.
As we have pointed out in past Veterans Day blogs, the holiday originally commemorated the armistice issued at 11:00 a.m. You might consider taking time to revisit the individual heroism we discussed in previous blogs, like the stories of Harlem Hellfighter Henry Johnson ; Fr.
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