Strategic Sourcing December 28, 2022
Toy Story: It's History, Complexity & Procurement's Role
Remember the days when life was easy, devoid of social conventions and expectations, and unaffected by the challenging realities of adulthood? Remember your neighborhood was everything to you and toys were your only companion? You ...
Read more..Strategic Sourcing November 03, 2022
Supplier Dashboard II: How Zumen simplifies supplier evaluation
Welcome to the second blog of the Supplier Dashboard series. In the first blog, we talked about the importance of dashboards in procurement, especially in supplier relationship management, and how you can intuitively zoom in ...
Read more..Strategic Sourcing October 23, 2022
Supplier Dashboard I: Your partner for effective Supplier Management
In sports, professionals are under constant pressure to perform at the highest level. And to reach that level, they can’t do it by just playing. Players have to undergo rigorous practice sessions, analyze their gaps, ...
Read more..Strategic Sourcing September 29, 2022
Importance of Supplier Selection Criteria in Establishing Strategic Sourcing
According to the Aberdeen report on strategic sourcing, 68% of the survey respondents believe that strategic sourcing plays a huge role in their organization. 53% of the survey respondents believe that a top strategic ...
Read more..Strategic Sourcing September 29, 2022
Supply Chain Disruptions: Factsheet of the Global Impact
Covid-19 was the first and most significant domino that caused a catastrophic ripple effect along the supply chain. Since then, Geo-political issues, customer demands, trade wars, and many other disruptors have caused upheavals in the ...
Read more..Strategic Sourcing September 25, 2022
Quotation Process: A brief Description
What happens when you are on the lookout for buying an electronic item, an automobile, or even a house? You visit multiple vendors and compare prices, and based on your needs and budget, choose a ...
Read more..Strategic Sourcing September 24, 2022
Solving the Complexity Conundrum in Achieving the right Product Cost
You go to an Apple store and purchase the latest 256 GB iPhone 14 Pro Max. And its Manufacturer's Suggested Retail Price (MSRP) right off the shelf is $1199. But, the actual product cost of ...
Read more..Strategic Sourcing September 17, 2022
Supplier Negotiation - The need for Source-to-Pay software
Supplier Negotiation is part and parcel of our daily lives. It is a clear contest where one takes the cup and the other, well, just watches. Think about your last purchase, be it groceries, an ...
Read more..Strategic Sourcing September 11, 2022
What is a Purchase Requisition?
Manufacturing companies require multiple items daily, from raw materials, semi and fully-finished goods, to office supplies and services. And to purchase these goods, companies need to go through a systematic process that helps them manage ...
Read more..Strategic Sourcing August 31, 2022
Difference Between Sourcing and Procurement
Product manufacturing companies have multiple departments that collaborate to achieve their business objectives. And when it comes to handling the supply chain operations, sourcing, procurement, and supply chain teams form a vital cog. On the ...
Read more..Strategic Sourcing August 25, 2022
Scope 3 Emissions: Risks, Opportunities, and Role of Procurement
Earlier, sustainability was just a topic in boardroom meetings, but now, it is not so. It is becoming a pressing issue in organizations. And enterprises worldwide are calling for greenhouse gas (GHG) emission reductions like ...
Read more..Strategic Sourcing August 23, 2022
Direct Procurement: The 6 Key Differences of Direct vs Indirect Procurement
Direct Procurement The procurement process is categorized into Indirect and Direct Procurement. It comprises Request for Purchase (RFP), Request for Quotation (RFQ), Quotation negotiation & selection, Purchase Order (POs) release, Material tracking, Goods Receipt, and ...
Read more..Strategic Sourcing August 22, 2022
Formula 1 Engine: 2026 Regulations, Procurement, and Supply Chain
Formula One cars are the fastest on the planet around a race track. And they are one of the vital cogs for success in an F1 race. Any good driver with high skill sets will ...
Read more..Strategic Sourcing August 19, 2022
Procurement & Supply Chain Management: Role of Procurement in Supply Chain
Procurement & Supply Chain Management Over the past few years, businesses across industries have faced unprecedented supply chain disruptions. While many business leaders, especially those in the supply chain and procurement, believe that the ghost ...
Read more..Strategic Sourcing August 11, 2022
Procurement Technology: Why it is a must for Product Manufacturing Companies?
The early 1780s can be considered as the beginning of modern manufacturing, when Oliver Evans, an American inventor, began experimenting with the first automated flour mill. And there was no stopping from there. Today we ...
Read more..Strategic Sourcing August 07, 2022
Direct Procurement: Challenges in Product Manufacturing Companies
Direct Procurement Challenges in Product Manufacturing Companies Procurement teams juggle multiple roles, from identifying the need to vendor/supplier management and even facilitating payment processing. And while doing all of these, they also need to keep ...
Read more..Strategic Sourcing July 14, 2022
e-Procurement Software Workbook: The Ultimate Guide to choosing the right Software for Direct Material Sourcing & Procurement
Direct Material Procurement digitalization has been a point of discussion in product manufacturing companies for some time now. Automating direct procurement and optimizing the source-to-contract process can save businesses time and money. But it is ...
Read more..Strategic Sourcing July 08, 2022
Wimbledon - A Procurement Excellence
Champagnes, strawberries, and 50K tennis balls behind a spectacular event Wimbledon – an event that personifies everything British is back to its original form after a 3-year sabbatical. Every product and aspect of Wimbledon is ...
Read more..Strategic Sourcing May 25, 2022
Direct Material Procurement Life Cycle Guide - Part 1
The objective of this guide is to explain the Direct Material Procurement Lifecycle — details, exceptions, and complexities — in the context of product manufacturing industries. This would include companies in such industry sectors but ...
Read more..Strategic Sourcing May 09, 2022
Strategic Sourcing: The 7 step sourcing process
Strategic Sourcing is no longer a Good-to-Have Working closely with suppliers and internal stakeholders brings innovation and greater efficiency to the procurement lifecycle. Strategic sourcing is a proactive process that involves continuous improvement and ...
Read more..