Supplier Management

Online Collaboration is Needed Now More Than Ever

Posted: 06/02/2020 - 00:54
technology, automation and data acheives business continuity

We know that procurement is often a juggling act! We use decent supplier relationships, purchasing power, and any other tools in our belt to secure best payment terms, highest quality purchases at the lowest price, or indeed best value, to ensure vital continuity of supply against a backdrop of supply chains becoming ever more complex and volatile!

Third Party and Supply Chain Risk Management: Then and Now

Posted: 05/25/2020 - 02:34
Third Party and Supply Chain Risk Management

The worldwide crisis made us hyper-aware that trust-worthy relationships are vital. Effective third-party risk management is the best way to gain assurance that responses and decisions are risk-informed. Managing third-party relationships, calibrated for criticality and risks, has never been more critical. This is the most reliable path to strengthen business resilience, protect stakeholders and the bottom line.

Value Beyond Savings: 4 Ways Procurement Can Make An Impact

Posted: 05/22/2020 - 21:05
Procurement value

One of the most significant procurement trends we’ve seen so far in 2020 is delivering value beyond savings. So what exactly does this mean in the context of the function’s traditional goals?

Savings, as we all know, have long formed the foundation of procurement’s ROI to the organization. It’s been our primary charter over the years and is quite literally how the function has “paid its bills.”

Shifting Source-to-Pay Operations to Serve the Values-Based Consumer

Posted: 04/23/2020 - 07:10
Corporate social responsibility

Legislation regarding the environment, modern slavery and other sustainable procurement laws are coming into force at a breakneck pace. By embracing change now and adopting ethical and sustainable procurement, organizations can get ahead of the curve. Also, this socially responsible commerce movement is being thrust into the forefront of how business will operate moving forward, given the guidelines for the recent stimulus bill passed in the U.S.

Three Supplier Conversations You Need to Have Now

Posted: 01/22/2020 - 00:00
Your suppliers’ threat profiles will inevitably add to your business’ cybersecurity risk.

Suppliers are mission-critical partners for business success. Unfortunately, too often, an “arm’s length” relationship creates problems that are revealed only after it’s too late.

When suppliers feel conversations only occur after poor performances, the opportunity to have a productive, collaborative conversation may already be over.

Source Wars: Episode I – The Rise Of Software

Posted: 01/07/2020 - 00:00
The Rise Of Procurement Software

Procurement is old. Just how old you ask? Well, a long time ago in a galaxy far, far away… it’s been around for millennia. As a natural function of trade and commerce, it developed organically during the earliest civilizations. Papyrus records indicate procurement can be traced as far back as the Egyptians (the first Jedi) in 3000 B.C.

Information Technology Procurement as a Service – Added Value to Internal Procurement Teams

Posted: 12/20/2019 - 04:30
The Procurement as a Service (PaaS) model, which utilizes outsourced human talent, technology, and industry-specific knowledge to enhance or –  in some cases for SMB companies –  replace the buying process for companies is expected to grow from $5.4 billion in 2019 to $7.8 billion by 2024, according to new market research by MarketsandMarkets™.

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