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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.
Massy, France 18 March , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, and CKS BeNeLux today announced that Punch Powertrain has successfully deployed Ivalua’s platform to support the digital transformation of the strategicsourcing process.
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?
Massy, France 18 March , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, and CKS BeNeLux today announced that Punch Powertrain has successfully deployed Ivalua’s platform to support the digital transformation of the strategicsourcing process. Tom Reynolds / Robert Fretwell. 0207 436 0420.
It is an important part of the decision-making process and requires careful consideration of a wide range of factors, such as cost, quality, reliability, and delivery times. When you work with local experts and access nearby resources, you can ensure top-quality products.
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. The co-dependency that is increasingly common between suppliers and their customers is gradually eroding out-of-date bullying tactics in purchasing.
Buying supplies, equipment, low preference items and the latest innovations to support high-value care delivery is expensive and while it’s not an area where you want to skimp, there are certainly ways to reduce these expenses without impacting quality of care. For many it’s likely that the opportunity is much larger.
Managing suppliers through qualification activities will confirm their ability to produce and deliver components at the proper quality and quantities to support customer demand. Maturity and Decline: Drive Ongoing Innovation and Maximize Margins.
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. The co-dependency that is increasingly common between suppliers and their customers is gradually eroding out-of-date bullying tactics in purchasing.
O-I Glass has chosen Ivalua after assessing technology and process gaps related to strategicsourcing, supplier relationship management, category management, vendor quality, sustainability, and compliance.
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.
Prior purchase data is also used for demand forecasting improving resource management and operational efficiency. With this capability, procurement departments can keep abreast of market trends and utilise strategicsourcing opportunities.
For instance, the rapid adoption of edge computing can be attributed to 5G’s superior qualities. This has provided a huge boost to digital transformation in both the public and private sectors.
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.
Let Ivalua help make orchestrating all these puzzle pieces easier so you can get back to driving real ROI through sophisticated purchasing strategies. At Ivalua, we understand the importance of having a single source of truth for your data. Can the software grow with you as your needs change?
The main categories of risk are covered in Figure 1 to include supply chain, information security, location, CSR or ESG, financials, regulations, quality and reputation. This is precisely where organizations see the benefits of a TPRM program built into or working seamlessly with a StrategicSourcing or Source-to-Pay solution.
This month Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. 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 ).
Last year Forrester published 2 major Wave reports, which together span the full Source-to-Pay process. 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 ).
Mike Smith, a former director of strategicsourcing at DHS and now executive vice president at GovConRx, said with the successes of the DHS and other pilots, he hoped the FAR Council would take up this project and support CPARs reforms. “The But if everyone is rated satisfactory, then CPARs has little to no real value.”
The only exceptions are for contracts solely for the purchase of Commercial Off-the-Shelf items or contracts under the $10,000 micro-purchase threshold. After receipt of proposals, the contracting officer determined that the class waiver of the NMR did not apply to the equipment it was purchasing.
Army contracts: the Information Technology Enterprise Solutions 3 Services (ITES-3S) and the Responsive StrategicSourcing for Services (RS3). If an order is not set aside the contracting officer must document the reason and coordinate the decision with the PCR.
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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