AI-Powered Vendor Invoice Management: Streamlining Accounts Payable

December 03, 2024 | Procurement Strategy read

Vendor invoice management is the process of receiving, reviewing, approving, and processing invoices from vendors or suppliers. It covers everything from validating invoice data for accuracy to managing exceptions and facilitating timely payments.

Goods Received Note: Transforming Procurement from Administrative Task to Strategic Advantage

December 02, 2024 | Procurement Strategy read

A goods received note (GRN) is a key document in the procurement process that ensures accuracy and efficiency in inventory management. It bridges the gap between the purchasing, receiving, and accounting departments by creating a reliable record of incoming goods.

Navigating Trade, Tariff and Policy Shifts Under New U.S. Leadership: Action Plan for 2025 and Beyond

Read more about Navigating Trade, Tariff and Policy Shifts Under New U.S. Leadership: Action Plan for 2025 and Beyond

The way the U.S. does business with the world may soon look very different.

As new leadership brings major shifts in trade, tariffs and policies, companies will face challenges that demand a fresh approach.

From tariffs on key imports to swings in trade dynamics with partners, the road ahead is complex. The question isn’t just about avoiding risks but about how to turn them into competitive advantages.

Our latest bulletin breaks down the impact of potential policy shifts and offers actionable strategies to adapt your supply chain to the future.

6 Keys to Solving the Challenges of International Procurement

November 25, 2024 | Procurement Strategy read

Whether it’s a U.S. company securing materials from China, or a European firm sourcing rare metals from Africa, the goal of international procurement is the same: to leverage global resources for cost savings, innovation and competitive advantage.

However, complex logistics, ever-changing regulations, financial uncertainties and cultural differences can threaten the return on investment of a promising strategy.

GEP Spend Category Outlook Report 2025

Read more about GEP Spend Category Outlook Report 2025

2025 will feel familiar, in some regards. The procurement and supply chain category management landscape will remain turbulent, with geopolitical tensions, worries over fresh tariffs and rising costs and supply chain disruptions posing significant challenges.

But you should also expect some lightning-fast changes in 2025 as artificial intelligence continues to upend the way enterprises and procurement, supply chain and category management professionals operate.

Why Resilient Power Grids Need a Mix of Solar, Nuclear & Batteries

November 16, 2024 | Procurement Strategy read

By 2050, the world’s energy demands are expected to rise by a staggering 50%, driven by economic growth and increased urbanization.

Renewable energy sources, led by solar power, are projected to account for most of the global electricity capacity additions during this period.

Solar could be a major player in this global energy generation, but nuclear power remains a crucial player too. It currently contributes 10% of the world’s electricity supply with zero carbon emissions and its influence continues to grow.

How AI Transforms the Contract Management Process

November 16, 2024 | Procurement Strategy read

Procurement teams have to spend a lot of time and effort getting contracts right. Effective contract management enables businesses to remain compliant, mitigating risks and maximizing operational efficiency. Contracts are the backbone of business relationships, outlining the terms and conditions that govern interactions between parties.

3 Key Strategies to Maximize M&A Impact in Oil and Gas Companies

November 16, 2024 | M&A read

Mergers and acquisitions (M&A) are vital tools for growth and expansion in the oil and gas (O&G) industry. These strategic maneuvers can enhance operational efficiency, expand market reach and improve competitiveness.

However, the success of these transactions depends heavily on strategic planning, integration and subsequent management. As the industry continues to navigate through volatile market conditions, regulatory changes and technological advancements, companies must adapt and refine their M&A approaches.

Getting Transportation Procurement Right—Across Land, Water and Air

November 16, 2024 | Procurement Strategy read

Transportation procurement is a multifaceted process influenced by various factors, including the mode of transport—air, water or land.

Each mode has unique challenges and considerations, which procurement teams must address to ensure efficiency -- from cost fluctuations and technological shortcomings to increasing regulatory pressure for sustainability.

AI Powers Procurement’s Growing Influence in Organizations, Shows 2024 CIPS Survey

November 16, 2024 | Procurement Strategy read

Procurement’s role is evolving beyond cost management.

According to CIPS Global State of Procurement & Supply 2024 report, procurement has become a central strategic function. Its influence now reaches across sustainability, risk management, and business growth.

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AI-Powered Vendor Invoice Management: Streamlining Accounts Payable

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Goods Received Note: Transforming Procurement from Administrative Task to Strategic Advantage

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6 Keys to Solving the Challenges of International Procurement

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Why Resilient Power Grids Need a Mix of Solar, Nuclear & Batteries

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How AI Transforms the Contract Management Process

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3 Key Strategies to Maximize M&A Impact in Oil and Gas Companies

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Getting Transportation Procurement Right—Across Land, Water and Air

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AI Powers Procurement’s Growing Influence in Organizations, Shows 2024 CIPS Survey

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