April 30, 2024 | Procurement Strategy
Businesses all over the world are in a perpetual race to seek newer ways to streamline procurement processes, reduce costs and increase enterprise-wide efficiency. With the purchasing function undergoing significant transformation in recent times, businesses are realizing the strategic importance of optimizing the procurement practice. Centralized purchasing — as a model — has gained traction as a potential solution to the challenges of fragmented buying.
April 30, 2024 | Supply Chain Software
As a customer-centric business, how often can you effectively meet demand?
You may have missed out on revenue and sales opportunities because of a lot of fluctuations in demand.
At times, you would have found it difficult to predict customer behavior and accurately forecast demand.
What has caused changes in customer behavior and buying patterns?
Customers today are well-informed and aware of the larger macroeconomic climate, because of a series of unforeseen events in recent years. On many occasions, they have had to stock more stuff at home than usual.
April 24, 2024 | Procurement Strategy
Procurement isn’t done in isolation: effective supply chain management constantly evaluates performance in terms of cost, quality and delivery speed. Procurement specialists identify needs, find suppliers who can deliver at the best price, and negotiate beneficial terms, reaching finally a point where a contract is awarded to secure value.
But this is just the beginning of the process.
April 23, 2024 | Supply Chain Strategy
Supply chains — spread over multiple countries and involving many stakeholders — have become increasingly complex. Businesses are exposed to a wider range of risks, including natural disasters, geopolitical tensions, cyber threats, as well as regulatory changes happening elsewhere.
Effective global supply chain risk management enables enterprises to ensure business continuity, with minimal monetary impact and inconvenience. An effective risk management strategy helps enterprises build resilience and quickly adapt to unforeseen events and fast evolving market conditions.
Os CPOs estão em uma desafiadora posição: Eles estão constantemente buscando equilibrar a demanda por crescimento e inovação com a necessidade de reduzir custos operacionais.
Gerenciamento de Custos: Como Alcançar Resultados Rápidos e Sustentávis é um plano traçado a partir de conselhos de Todd Bremer, vice-presidente de consultoria da GEP, com a finalidade de executar um programa eficaz para a gestão sustentável de custos que alcance o equilíbrio adequado.
April 22, 2024 | Procurement Strategy
Supplier negotiation is part science and part art. It's a skill that all buyers need to develop to achieve the best terms and establish a good relationship with their suppliers.
Negotiating well isn’t just about talking eloquently – it requires planning, choosing the right team, and knowing what you want to achieve.
Here are the three most important things to do to negotiate well with your suppliers.
In today's competitive business landscape, harnessing the full potential of generative AI in Procurement is paramount. This white paper shows how enterprises can tap Generative AI, and why they should
April 18, 2024 | Procurement Strategy
Businesses focus on measuring their revenues and profits — because they matter. But the past three years have thrown businesses off balance by altering the procurement and supply chain landscape with unprecedented challenges. According to an Ardent Partners survey for 2023, almost 44% of the CPOs felt that the year would see a great deal of uncertainty. But with geopolitical tensions on a steep rise globally, 2024 hasn’t been too different.
April 18, 2024 | Sourcing Strategy
What are the key priorities of business leaders today?
Building resiliency, diversifying the supply base and mitigating supply chain risks while lowering costs at the same time.
Amid the prevailing economic uncertainty, businesses across industries have reassessed their priorities and strategic goals. They have also taken steps to cut down costs and protect thinning margins.
Technology leaders, for instance, have scaled back operations, reduced headcounts and pared down line items to deal with downturns.
According to Gartner®, “Supply chain organizations are focusing on resilience to manage increased disruptions to their operations, but the cost is often prohibitive. This research helps CSCOs strategically focus on and manage risk where it’s most valuable to their organizations while deprioritizing the rest.”
