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Blog
How to Use Predictive Procurement in Chemical Manufacturing
Predictive procurement is a must-have in chemical manufacturing. Why? Few industries are as massive and complex as the $5 trillion chemical manufacturing industry. Using a huge range of raw materials for production, companies in this industry supply chemicals to...
What the PMI Report for CFOs Means for You
The Manufacturing PMI report is a monthly report of benchmarks that measure the manufacturing sector’s performance. Data is collected via surveys of supply executives from a wide range of industries. A series of indices take readings in specific areas, including new...
How to Fix Tail Spend — A Rising Concern for CFOs
CFOs are increasingly hands-on when it comes to the strategic vision of their companies. Procurement and finance are teaming up more often to align on future goals and the threats that impact long-term profitability. Tail spend, a longtime procurement focal point, has...
Introducing the 2022 Opti Awards Winners
Optimal’22 — The Leadership Summit for Predictive Procurement— wrapped on March 24th. This event isn’t just an opportunity to network with the over 1,000 participants or to learn from incredible keynotes and workshops delivered by notable industry experts....
Bid Ops is now Arkestro
Bid Ops started as an e-sourcing company powered by AI. The AI simulated a sourcing event before it began in order to generate a target outcome. The key benefit of this autonomous “suggested price” approach to strategic sourcing is 2-5x savings impact in days, not...
How to Create High-Intent Purchasing in Procurement
One of the under-appreciated challenges facing procurement today is low-intent purchasing. It’s not something that immediately sets off alarms because it’s not necessarily obvious. It’s something that tends to build up over time. Low-intent purchasing is a factor that...