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Blog
How Procurement Orchestration Drives Up to 5X More Savings
One of the most critical factors in cost savings and supply chain agility is procurement orchestration. Companies that adopt predictive procurement orchestration can realize two to five times the amount of savings. So, what is procurement orchestration? Procurement...
Orchestration: Segmenting the Market for Procurement Goals
Three Procurement Goals of Future Procurement Teams Procurement goals have evolved even further throughout 2021, and procurement teams have big goals for the future. Although still working through aspects of digital transformation and implementing platforms and tools,...
How to Use Procurement KPIs to Motivate Process Excellence
Procurement operations teams face big challenges, even if they have access to data from procurement KPIs. First, getting their stakeholders to use contracts that are pre-approved by procurement and include specific and necessary terminology. Second, convincing...
Best Practices for Overcoming Challenges in Indirect Procurement
While we might think of procurement as a single discipline, it’s more complicated than that. There is direct procurement, which is what most people think of when they hear the term “procurement.” This is the sourcing of the raw materials needed for production....
Three Best Practices for MRO Sourcing
This blog was refreshed on October 12, 2023. Procurement teams don’t just ensure that the raw materials, components, and parts arrive on time, on budget, and on spec. In many organizations, the procurement team is also responsible for Maintenance, Repair, and...
Raw Materials Procurement – Using Predictive OTIF Helps Stay Ahead of Price Increases
Raw materials procurement can get chaotic, so it’s vital for raw material procurement teams to find the best ways to procure raw materials while staying ahead of price increases. One way they can do this is to use predictive on time in full (OTIF) to avoid...