Procurement in the Chemical Industry: The Future Is Predictive

Procurement in the chemical industry

Few industries are as massive and complex as the nearly $5 trillion chemical manufacturing industry. Globally, it plays a vital role in the economy, employing around 20 million people.  Chemical manufacturers turn an array of raw materials—gas, minerals, metals, and more—into countless products used in everyday life. Consumers end up directly using some of these […]

4 Predictions on Procurement’s Top Trends in 2023

procurement’s top trends

A new year offers an opportunity to reflect on the past, learn from it, and prepare for the future. Of course, old problems don’t suddenly disappear because one year ends and a new one begins. But hopefully, we can incorporate what we’ve learned into our day-to-day, creating a better—more resilient—path going forward. In 2022, procurement faced […]

Predictive Procurement: Overcoming Challenges in Health and Pharma

procurement challenges in health and pharma

Procurement professionals of all types face a challenging and dynamic work environment. But those in the health and pharmaceutical industries deal with particularly demanding circumstances.  The pandemic and resulting supply chain disruptions have added extreme pressure on the health and pharma sector to address shortages quickly and efficiently. During the pandemic, healthcare needed to treat […]

How Predictive Procurement Solves Challenges in the Food and Beverage Industry

Food and Beverage

Food and beverage producers have undergone sweeping changes over the past several decades. Technology innovations have been massive, changing how food is grown, processed, and purchased. There have also been widespread and dramatic changes in how companies work with suppliers, causing supplier relationship management to take a front seat.  With globalization, raw materials may come […]

6 Steps to Become Your Customer’s Supplier of Choice

supplier of choice

There is no debate regarding how critical the supplier-client relationship is within the procurement industry. And while much has been written about how procurement can improve relationships with suppliers—especially with the current supplier-centric economy—far less has been published discussing how suppliers can become their customers’ supplier of choice. Our six-step guide helps address this issue, […]

Right Supplier, Right Price, Right Now – How Does Arkestro Work?

Business relationships only work when all parties benefit. Predictive Procurement is crucial to solving a wide range of complex supply chain problems efficiently and effectively. Procurement teams that successfully align with their key suppliers have seen improved quality, reliability, cost savings, and other critical deliverables for evaluating supplier performance. Arkestro is explicitly engineered to drive […]

The Impact of The Great Resignation on Procurement

The world—and the workplace—is evolving rapidly, and with change comes shake-ups within procurement and beyond. One of the shifts we’re seeing is the Great Resignation. It’s transforming the workplace (and isn’t going anywhere anytime soon).  Since this trend of workers resigning en masse is here to stay, inherent risks come with this change. We’ll explain […]

4 Steps to Start and Grow an ESG Strategy

Environmental, Social, and Governance, or ESG for short, is not a new concept. You can think of it as a more evolved and measurable form of Corporate Social Responsibility (CSR). With growing pressure on businesses worldwide, developing an effective ESG strategy for your organization ensures that all transactions with suppliers are conducted in a way […]

Supplier Relationship Management – The Secret to Effective Supplier Relationships

For the longest time, the procurement scale has tipped in favor of the buyer. However, the post-pandemic era has seen a dramatic shift in the business landscape. Constrained supply chains and the associated shortages have resulted in mounting pressures from the government and investors for organizations to diversify their supplier bases. The supplier relationship management […]