Supplier Management 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..Supplier Management 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..Supplier Management 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..Supplier Management September 28, 2022
5 Aspects of Effective Supplier Management
Supplier Management Product manufacturing companies have suffered a lot in the past couple of years. The pandemic, post-pandemic effects, wars, trade embargoes, volatile commodity prices, inflation, labor relations, raw material hoardings, and supply disruptions have ...
Read more..Supplier Management 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..Supplier Management 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..Supplier Management 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..Supplier Management September 05, 2022
Bill of Materials (BOM) - What it is and what are the types?
What is a Bill of Material (BOM)? What's the first thing you do when you want to buy grocery items? You make a list. It could be a list of ingredients you need to cook ...
Read more..Supplier Management 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..Supplier Management 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..Supplier Management 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..Supplier Management 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..Supplier Management 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..Supplier Management July 15, 2022
Supplier Selection Criteria: Costs No More the Only Factor
Supplier Selection Criteria: Cost is no more the only major factor for supplier selection and evaluation. In any product manufacturing company, when the decision is to outsource certain parts of the Bill of Materials (BOM), ...
Read more..Supplier Management 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..Supplier Management June 09, 2022
3 Reasons Why a Sourcing Software is Needed for Effective Supplier Relationship Management
The recent global issues shook the foundations of many businesses and have led or forced companies to make their business processes more dynamic to meet the ever-changing complex and competitive requirements. And this chaotic state ...
Read more..Supplier Management 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..Supplier Management 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..Supplier Management 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..Supplier Management January 10, 2022
Supplier Relationships: 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 ...
Read more..Supplier Management January 05, 2022
Supply Chain Disruption: Course Correction needed to overcome it
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..Supplier Management December 09, 2021
Global Supply Chain Shortages: The never ending loop of Supply Chain disruptions and the way forward
Supply Chain Disruption The sudden rise in demand has led to chaos for manufacturers and distributors of goods who cannot supply as much as they did at pre-pandemic levels. To add to the woes, the ...
Read more..Supplier Management 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..Supplier Management 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..Supplier Management 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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