Manufacturing June 20, 2022
New Product Development: How to avoid failed launches?
It is every organization's dream to launch new products. A successful product launch puts the organization on the map and opens the door to new possibilities. Consistently introducing new products to the market also indicates ...
Read more..Manufacturing June 18, 2022
5 Challenges for Procurement in New Product Development
Recently Land Rover took the wraps off their brand new Range Rover Sport in a grand fashion. The car is the third generation of the sporty Rover and comes with a host of new changes, ...
Read more..Manufacturing June 02, 2022
A brief analysis of Enterprise IT evolution in Product Manufacturing Industry
An early-stage startup probably has 100 SaaS tools they have signed up for and actively uses at least 50 of those. While the technology companies move fast in adopting IT tools, the manufacturing companies worldwide ...
Read more..Manufacturing February 17, 2022
Product Costs: A Primary Driver for Business Sustenance
The role of procurement as we know it today started to gain importance during the industrial revolution in the 18th century. But, up until the second world war, it was considered as performing clerical and ...
Read more..Manufacturing January 11, 2022
With Problems Aplenty, it is Important for the Product Manufacturers to Keep an Eye on their Costs
For companies to continue surviving, let alone succeed gloriously, delivering their products at the right product cost is a basic requirement and not a choice. As much as achieving customer experience, reliability, and getting the ...
Read more..Manufacturing January 10, 2022
5 Ways to improve Supplier Relationships
A successful product manufacturing company requires a strong supply base, given about 70% of the value of the product is derived from the Direct Materials sourced from their suppliers. The relationship that a buyer has ...
Read more..Manufacturing January 10, 2022
Disruptive technologies as enablers for digital understanding of procurement
The use of digital tools and technologies opens up new possibilities to use data and human resources. Primarily, digital technologies help in increasing efficiency and productivity through quality improvement, error reduction, and collaboration. In particular, ...
Read more..Manufacturing January 05, 2022
Course Correction needed to overcome the Supply Chain Disruption
Sourcing strategically with quantified risks and ensuring fail-safe mechanisms is part of the job for procurement and supply chain professionals. But, this pandemic, geopolitical and economic issues, and climate change have taken that KPI to ...
Read more..Manufacturing December 09, 2021
The never ending loop of Supply Chain disruptions and the way forward
The sudden rise in demand has led to chaos for manufacturers and distributors of goods who cannot supply as much as they did in pre-pandemic levels. To add to the woes, the geopolitical concerns and ...
Read more..Manufacturing November 10, 2021
Top 5 Aspects to look for in a Source-to-Pay Platform
The manufacturing sector is growing at a good pace, and companies have a lot riding on them since the industry is moving towards saying “Business as usual.” The term, though quite old, means a lot ...
Read more..Manufacturing November 05, 2021
How Technology can ease the complexity in Direct Material Sourcing
It's Friday evening and you find that the parts arriving from the supplier can’t make it inside the gate because of some discrepancies in the purchase order. Let's say you are getting the new equipment ...
Read more..Manufacturing October 20, 2021
Advantages of Source-to-Pay over Procure-to-Pay
So, you are planning to Digitalize your procurement process. The first step to this is deciding whether to invest in a Source-to-Pay or a Procure-to-Pay platform. To make a decision you need to understand the functions ...
Read more..Manufacturing October 11, 2021
Have you added Procurement Software to your IT budget?
This time of year, many companies are figuring out how to allocate resources in the next budget cycle. They will revisit old spend allocations, consider new or lingering business problems, and earmark funds for special ...
Read more..Manufacturing October 10, 2021
8 Competing Priorities that jeopardize margin improvement initiatives from procurement
The story goes like this: the CFO is asking for a percentage point cost improvement in the Gross Margin from the Procurement Team in the next Fiscal. This is the most attractive to the ...
Read more..Manufacturing October 05, 2021
Sourcing Solutions help in achieving better product costs. How?
Sourcing Strategy: requires a special focus on every part. In Direct Materials Sourcing, when 1000’s of parts are sourced, keeping track of every part becomes a challenge. Take the case of Supplier Negotiations - In ...
Read more..Manufacturing October 05, 2021
Digitalization Procurement: The Transformation through the ages
Procurement has transitioned from a purely transactional process to a strategic function crucial to business success in the last 30 years. This transformation has also been accompanied by technology for the most part. From the ...
Read more..Manufacturing October 05, 2021
Direct Sourcing is much more than purchasing: It is an extension of Product Life Cycle
You design, manufacture, and sell a product… be it an Automobile, Aircraft, Refrigerator (or any of the high-tech gadgets that go in them), a Candy bar, or your off-the-shelf Pain-Killer medication. Unless you are one ...
Read more..Manufacturing October 04, 2021
Procurement in Business: Leverage Technology to meet your 2022 Goals
We are heading towards Q1 of 2022 and since Covid swept the world, there have been unprecedented interruptions to organizations across the globe. With the pandemic affecting every country and the subsequent lockdowns across regions ...
Read more..Manufacturing September 30, 2021
Procurement Process: How Zumen’s Source-to-Pay Solutions enhance it
Procurement management in Product Manufacturing Companies: In current world scenario procurement teams works on multiple everyday tools and platforms to keep the production line running. To incorporate all these tools, organizations add many layers of ...
Read more..Manufacturing September 29, 2021
Procurement System: Ensuring Direct Material Efficiency Through End-to-End Procurement Technology
In manufacturing companies, efficiency is typically derived from well-managed process and material flows. Operational evidence of materials management efficiency can be observed in the percentage of on-time-in-full (OTIF) deliveries from suppliers, high inventory turns, percentage ...
Read more..Manufacturing September 28, 2021
Manufacturing Company: What should they be prioritizing?
Manufacturing business : In the wake of the pandemic, many product manufacturing companies were skeptical to move away from their existing processes hoping that businesses would soon be back to normalcy. 2021 follows the previous ...
Read more..Manufacturing September 28, 2021
Procurement Technology: The 7 Advantages of using Procurement Software
Procurement Technology: Every industry is talking about using technology to improve their supply chain processes This is because technology can significantly impact an organization's bottom-line by improving visibility and cost-efficiency. Technology also helps increase the ...
Read more..Manufacturing September 28, 2021
Supplier Management : A modern & automated approach
Supplier Management: In traditional Supplier Management, the focus was only on cost reduction. The buyer-supplier relationship did not extend beyond that. Today, it is recognized that Suppliers play an important role in the long-term success ...
Read more..Manufacturing September 28, 2021
S2P Software : How to gain 100% visibility in your sourcing process
Source-to-Pay popularly known as S2P, is the end-to-end process and steps that businesses follow to source, procure, and pay for goods and/or services. Beyond these phases of procurement, S2P also includes strategic procurement and supplier ...
Read more..Manufacturing September 26, 2021
SCRM : Mitigating Supply Chain Risks with a Resilient Procurement Platform
Supply chain risks: Unforeseen delivery bottlenecks put companies under acute pressure to act. Events such as the COVID-19 pandemic, blocking of the Suez Canal, or fire at one of Renesas’ factories (Supplier for automotive controller ...
Read more..Manufacturing September 01, 2021
Spend Management: Effectively Managing Direct and Indirect Spends
Spend Management: The primary goal for Procurement leaders is to optimize the purchases as more than 70% of their company’s revenue is spent on purchasing goods and services - both Direct and Indirect. While direct ...
Read more..Manufacturing August 26, 2021
Supplier Data Management – The first step towards building Supply Chain Resilience
With the advent of the pandemic, a lot has been spoken about Supply Chain Visibility and the role of data in Supply Chain Visibility. Before the pandemic, there was a consensus that organizations had to ...
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