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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.
Solution deployed in 10 days to improve direct material sourcing, increasing profitability. The platform was configured in 10 business days to deliver rapid value in the sourcing of direct materials. This greatly increases the company’s agility, allowing highly efficient purchasing operations.
billion in costs through category management in fiscal 2024, nearly 29% above their goal for the year. When the government first started its modern journey toward category management almost exactly a decade ago, the goal was relatively easy to describe, if hard to achieve: Reduce the amount of complexity in the federal procurement system.
Since its inception in the late 1980s, strategicsourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategicsourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.
Strategicsourcing is a contemporary approach to supply chain management. It formalises the gathering, analysis and application of information to assist companies in aligning their purchasing strategy with their goals and securing the best possible value. What is strategicsourcing?
Solution deployed in 10 days to improve direct material sourcing, increasing profitability. The platform was configured in 10 business days to deliver rapid value in the sourcing of direct materials. This greatly increases the company’s agility, allowing highly efficient purchasing operations.
Ivalua, a global leader in spend management , today announced that bol.com, the largest online retailer in the Netherlands and Belgium, has selected Ivalua’s solution to digitalize its indirect Source-to-Contract (S2C) processes. Ivalua is a leading provider of cloud-based Spend Management software. About Ivalua.
Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain risk management in healthcare and improved patient care?
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. I’m going with Supplier Value Management. Let’s get busy working on Supplier Value Management. If so, in my (imperfect?)
Ivalua Spend Management Insights [ivory-search] 3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation May 30, 2023 | | Procurement Strategy by Sara Omer What is the Saudi Vision 2030 Program? Developing and executing category strategies is critical to effective strategicsourcing.
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. I’m going with Supplier Value Management. Let’s get busy working on Supplier Value Management. If so, in my (imperfect?)
The strategicsourcing technology market is a crowded space. Walk the exhibit floor at the annual ISM conference and you’ll easily find more than 40 providers offering a wide variety of e-sourcing solutions. So how do you know if you have the right sourcing technology for your business?
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 strategicsourcing. Instead, it tells us about our own purchasing habits. It does not tell us much about the suppliers.
Subsequently, he was assigned to the Office of Naval Research in Arlington, Virginia where he joined the Expeditionary Maneuver Warfare and Combating Terrorism Department, serving as the Deputy Program Manager, and Program Manager (acting) of the Command & Control, Communications, Computers (C4) and Cyber Program.
Third-party Risk Management (TPRM) within Services organizations, especially Financial Services (FSI), has become critical over the last few years. In Q3 2021, The Hackett Group conducted a comprehensive performance study of third-party risk management across a wide demographic of companies. What is Third-party Risk Management? .
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?
Managing suppliers through qualification activities will confirm their ability to produce and deliver components at the proper quality and quantities to support customer demand.
It is also helping to bridge the supply chain management gap that has traditionally existed between healthcare providers and other industries such as manufacturing. Quite often there can be a general lack of spend and vendor management and strategicsourcing activities. Share on Twitter. Big Opportunity Ahead.
Limited supplier reach: ERP systems don’t go far enough when it comes to reaching and managing suppliers. There’s often little visibility into supplier performance and risk, limited supplier collaboration and communication, and little or no ability to manage supplier contracts and agreements.
As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. Insurance: You can also purchase insurance to protect against disruptions in the supply chain.
Offshore ultra-deep water drilling company to deploy eSourcing globally across its purchasing function. Pacific Drilling requires a fast, efficient and automated sourcing process to support the company’s Purchasing processes. The company has corporate offices in Houston, Texas, with offices in Brazil, Luxembourg and Nigeria.
Featured Speakers: Ben Camerlin × Ben Camerlin SATCOM Program Manager Ben Camerlin is the Mobility and Satellite Communications (SATCOM) Program Manager in the Office of Enterprise Technology Solutions, Information Technology Category (ITC), Federal Acquisition Service (FAS). Close SATCOM Program Manager, U.S.
Redwood City, 17 August, 2022 – Ivalua, a global leader in spend management , today announced that O-I Glass Inc, an American Fortune 500 company headquartered in Perrysburg, Ohio, has selected its solution to streamline its Global Direct and Indirect Source-to-Pay (S2P) Processes. in 2021 and 24,000 employees. About Ivalua.
Subsequently, he was assigned to the Office of Naval Research in Arlington, Virginia where he joined the Expeditionary Maneuver Warfare and Combating Terrorism Department, serving as the Deputy Program Manager, and Program Manager (acting) of the Command & Control, Communications, Computers (C4) and Cyber Program.
Offshore ultra-deep water drilling company to deploy eSourcing globally across its purchasing function. Pacific Drilling requires a fast, efficient and automated sourcing process to support the company’s Purchasing processes. The company has corporate offices in Houston, Texas, with offices in Brazil, Luxembourg and Nigeria.
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.
Data-driven decision-making enables procurement teams to improve performance and align with wider organisational goals including corporate social responsibility and risk management. Prior purchase data is also used for demand forecasting improving resource management and operational efficiency.
Redwood City, CA – August 5, 2019 – Ivalua, a global leader in spend management, today announced that it has been named a Leader in the 2019 Gartner “ Magic Quadrant for Procure-to-Pay Suites. Gartner Inc., Gartner Inc.,
Redwood City, CA – August 5, 2019 – Ivalua, a global leader in spend management, today announced that it has been named a Leader in the 2019 Gartner “ Magic Quadrant for Procure-to-Pay Suites. Gartner Inc., Gartner Inc.,
An organization’s Procurement function is responsible for managing spend, in other words the buying goods and services that are used to make the products sold to customers as well as the purchasing of products and services used to run the organization on a day to day basis. What does Procurement mean? What is Direct Procurement?
Ivalua Spend Management Insights [ivory-search] Source Wisely: Your Top 3 Public Procurement Software Essentials April 17, 2023 | | Public Sector by Jarrod McAdoo Today, state and local governments are tackling top priorities such as legacy modernization, cybersecurity, and cloud computing.
The first, authored by Duncan Jones and published on December 10, is The Forrester Wave™: eProcurement Platforms, Q4 2019 , which covers purchasing and invoicing (similar scope to Gartner’s P2P Suites Magic Quadrant ). Ease and level of integration is an important criteria for spend management solutions. Suites reign.
Among the most digitalised tasks are transactional processes like invoicing (55%), purchasing (42%) and budget management (33%). But even these numbers show significant improvement is needed, as these manual, repetitive tasks are a constant drain on employee productivity and prevent spending time on more strategic objectives. .
Natacha Trehan, who leads the Purchasing Master’s degree at the University of Grenoble Alpes, will deliver a keynote providing further insights based on her experience working with and advising dozens of procurement organizations over the past decade. Sprint’s strategicsourcing transformation, presents a great example, in multiple ways.
The first, authored by Duncan Jones and published on December 10, is The Forrester Wave : eProcurement Platforms, Q4 2019 , which covers purchasing and invoicing (similar scope to Gartner’s P2P Suites Magic Quadrant ). Ease and level of integration is an important criteria for spend management solutions. Lesson 1: Suites reign.
demand aggregation As one strategy for meeting this obligation, both sectors look for opportunities for volume buying or ‘demand aggregation’ wherever possible and often approach strategicsourcing from a category management perspective. where do public sector procurement rules come from?
Most leaders seem to track their progress with metrics such as percent of spend managed and digitization levels, defining best-in-class as being the top quartile or similar high percentage. Bringing more spend under management and digitizing are key steps along the way. But it doesn’t by itself give you an edge. Plan to avoid those.
An Office of Management and Budget spokesperson said the FAR case is on pause to allow further analysis of security considerations, such as roles and responsibilities for the lifecycle management of the data. OMB says it is working with agencies to prioritize their acquisition data management needs.
In addition, below are considerations for member companies to manage contract and cost risks in the event of a government shutdown on October 1: Review your contract- What is the contract type? The plan notes that the effectiveness of cyber risk management varies among agencies. These were initially proposed on Dec.
Coming from the vendor side, I knew our eProcurement platform had the potential to transform sourcing and purchasing in the public sector. Internal clients will want to engage procurement teams not only to ensure compliance, but also because they provide deep expertise on how to source the best products and services at the best value.
NIST Releases Updated Ransomware Prevention Guidelines Draft MeriTalk reported that the National Institute of Standards and Technology (NIST) released an updated draft of its management framework which will guide the agencys ransomware prevention efforts. The draft updates NIST’s Cybersecurity Framework (CSF) from version 1.1
White House Announces “Better Contracting Initiative” On November 8, the Biden-Harris Administration announced the next phase of the Federal Government’s enterprise approach to purchasing goods and services, known as the “Better Contracting Initiative (BCI).”
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