Procurement Explained

Key differences between direct and indirect spend management

Direct spend in procurement refers to goods and services directly related to making products or serv..

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Key differences between direct and indirect spend management

Direct spend in procurement refers to goods and services directly related to making products or serv...

Procurement Explained,

6 tips to improve your indirect spend management

Indirect procurement spend is the sourcing of goods and services not directly related to the manufac...

Category Management,

What is spend management and why is it important?

The last few years have put the maturity and competencies of procurement organizations to the test. ...

Spend Analysis,

Leveraging spend analytics in strategic sourcing

Strategic sourcing has a vital role to play in supply chain management and ensuring profitable busin...

Data & Analytics,

Why onshoring supports your sustainable procurement agenda

In the procurement world, offshoring is the relocation of production, business process or operations...

Sustainability & Diversity,

Modern Slavery in Procurement

Modern slavery can be defined as the recruitment, movement, harboring or receiving of human of all a...

Sustainability & Diversity,

How to measure sustainable performance: KPIs and Metrics

Procurement is at the forefront of sustainability measurement. Tracking sustainable performance is t...

Sustainability & Diversity,

How to implement sustainability in Supplier Relationship Management (SRM)

Supplier relationship management (SRM) is a business initiative that aims for mutually beneficial su...

Sustainability & Diversity,

Everything you need to know about supplier negotiations

Supplier negotiation combines interpersonal skills, tactics, market understanding, and data-driven i...

Procurement Explained,

Everything you need to know about the CSDR

Reporting on sustainability initiatives is no longer optional. Even medium-sized companies are getti...

Sustainability & Diversity,

How to select (and develop) sustainable suppliers

Suppliers play an essential role in your sustainability journey. Sustainability goals will only be a...

Sustainability & Diversity,

6 things to consider in your sustainable procurement roadmap

Sustainable procurement is the integrated process of lowering environmental impact and creating posi...

Sustainability & Diversity,

How to be compliant with the German Supply Chain Act

The German Supply Chain Act (The German Act on Corporate Due Diligence Obligations in Supply Chains ...

Sustainability & Diversity, Multi-language,

What is sustainable procurement and why is it important?

Sustainable procurement is a process that integrates environmental, governance, and social factors o...

Sustainability & Diversity,

Marketing Spend Visibility | Marketing category series part 4

Spend visibility means systematic, detailed and organized spend trace. Spend visibility is not only ...

Category Management,

Marketing agency relationship management | Marketing category series 3

Marketers are continually having to re-evaluate their external supplier relationships, even more fre...

Category Management,

Marketing Procurement Relationship | Marketing category series part 2

The Hackett Group’s ”2021 CPO Agenda: 10 Key Issues Procurement Needs to Act on Now” introduces key ...

Category Management,

Marketing spend management | Marketing category series part 1

This is the first article in the Marketing Category Series, where we dive deep into spend-related to...

Category Management,

8 steps to build an effective procurement strategy

A comprehensive procurement strategy defines how an organization strategically manages its procureme...

Procurement Performance & Development,

Total cost of ownership (TCO) of spend analytics

When it comes to procurement analytics, the question of whether to build it yourself or buy it from ...

Data & Analytics,

Scope 3 emissions: what can procurement do?

Sustainability has become a pressing priority for all organizations. Recent research conducted by th...

Sustainability & Diversity,

Working capital optimization through payment terms

Financial managers are constantly being asked to do more with less. It is important to track every p...

Savings & Finance,

Category management and supplier segmentation | The criticality matrix

A category strategy defines the category's vision, mission, and deliverables to perform optimally. C...

Category Management,

Procurement ROI and Operational Procurement Performance

Procurement performance measurement (PPM) is the systematic process of measuring the effectiveness, ...

Procurement Performance & Development,

How to measure supplier diversity in procurement

Supplier diversity is a proactive procurement strategy that encourages organizations to include mino...

Sustainability & Diversity,

Decentralized procurement, centralized procurement, or center-led?

Centralized procurement means that purchasing is managed at the headquarters level. Decentralized pr...

Procurement Performance & Development,

3 ways to tackle commodity price fluctuations and volatility

In procurement, a commodity is a raw or semi-processed material used to produce a good. Commodities ...

Savings & Finance,

Agile sourcing in procurement | 4 ways to increase agility

Agile sourcing is turning the traditional procurement frameworks upside down, allowing cross-functio...

Procurement Performance & Development,

7 tips to reduce maverick spend in procurement

Maverick spend is often seen as off-contract spend or buying from non-preferred suppliers. Maverick ...

Spend Analysis,

Contract Handover | Best practices and success factors

In most organizations, once a supply contract has been negotiated and signed, it will be handed off ...

RFP & POC,

7 benefits of procurement analytics

Procurement analytics uses quantitative and analytical methods to derive actionable insights from pr...

Data & Analytics,

The RFP process explained | 8-steps to RFP

The Request for Proposal (RFP) is alive and well, despite the increasing criticism and murmuring in ...

RFP & POC,

How to manage a POC project for Spend Analytics

A proof-of-Concept (or POC) is a great low-cost exercise when in need of further assurance in soluti...

RFP & POC,

RFP template for procurement savings management solution

One of the reasons behind an RFP can be to collect information from vendors in order to make the bes...

RFP & POC,

RFP questions to ask software vendor | free template and cover letter

Previously, we published a blog post How to Write an RFP for Procurement Analytics Software. To resp...

RFP & POC,

4 steps to increase spend under management

Spend under management is the amount of spend managed by procurement out of total company spend. Spe...

Spend Analysis,

How to build an effective procurement team in 10 steps

There used to be a saying that the brightest person would be assigned to product development, the mo...

Procurement Performance & Development,

Introduction to category management | Definitions and best practices

Category Management (CM) is a strategic approach to procurement where organizations group together s...

Category Management,

5 key steps to take on your sustainable procurement journey

There’s no denying that something is happening in the world and in procurement’s priorities. Here ar...

Sustainability & Diversity,

Procurement KPIs: a complete list

KPIs (key performance indicators), also called metrics, are designed to measure the performance and ...

Procurement Performance & Development,

Everything you need to know about Procurement savings

The main goal of procurement is to ensure products and services are bought at the right price. Cost ...

Savings & Finance,

Direct procurement and direct material sourcing

Procurement can be divided into direct and indirect material categories. Direct procurement, or dire...

Procurement Explained,

Build or buy your spend analysis solution?

Every procurement organization needs to have visibility of their spend. There are many ways to do th...

Spend Analysis,

What is spend cube analysis made up of?

Spend cube analysis is spend data presented as a multidimensional cube. The three dimensions of a pr...

Procurement Explained,

Materials Forecasting Explained

Materials forecasting involves creating direct materials cost budgets and forecasts to help your bus...

Procurement Explained,

Supplier Segmentation 101 – Stategic Suppliers and Future Success

Supplier segmentation is the process of allocating suppliers into distinct groups so that limited re...

Category Management,

Beyond the Hype – Fostering a Healthy Procurement Data Ecosystem

    Procurement is rapidly evolving into a strategic function entirely powered by data-derived insig...

Guest Blog,

Setting the Stage for Sustained Sustainability

    Procurement is rapidly evolving into a strategic function entirely powered by data-derived insig...

Guest Blog,

Supplier Diversity: Urgency, Scalability, and Ownership

  Procurement is rapidly evolving into a strategic function entirely powered by data-derived insight...

Guest Blog,

Reimagining the P2P Advantage: UX, AI, and Machine Learning

  Procurement is rapidly evolving into a strategic function entirely powered by data-derived insight...

Guest Blog,

Holistic Supply Chain Risk Management: Response and Resilience

    Procurement is rapidly evolving into a strategic function entirely powered by data-derived insig...

Guest Blog,

Tail Spend Management in 5 steps

Cost reduction is a clear priority for most procurement teams. The focus is often on the strategic c...

Procurement Explained,

An introduction to spend analysis: what is it and why is it important?

Spend analysis is the practice of analyzing procurement spend to decrease costs, increase efficiency...

Procurement Explained,

How to create a data-fuelled supplier diversity program

The interest in supplier diversity programs is growing. In the past, a separate team would take care...

Sustainability & Diversity,

How to select a spend taxonomy | Spend data categorization

Spend categorization does not have to be painful. Granted, it can be time-consuming and demanding, b...

Procurement Explained,

10 + 1 strategies for procurement to forge its path in a crisis

Companies respond differently to crises depending on their past experiences and level of readiness f...

Guest Blog,

Procurement Transformation: 5 Shifts in Mindset

Transformation is one of the most overused words in business. When applied to discussions about proc...

Procurement Performance & Development,

Key Terms and Abbreviations in Procurement

Terms used in procurement can be pretty complex, and many concepts to familiarize oneself with. For ...

Procurement Explained, Multi-language,

How to Write an RFP for Procurement Analytics Software

Are you looking for an analytics solution and struggling with evaluating and assessing potential ven...

RFP & POC,

11 Cost Reduction Strategies in Procurement

Cost reduction usually refers to cost savings made during a purchasing process, but it is much more ...

Savings & Finance,

5 Tips for Contract Negotiation: What to Consider Before Negotiation

In this series freelance author and supply chain expert Elaine Porteous explores core topics in proc...

Procurement Explained,

How to Calculate and Forecast Purchase Price Variance (PPV)

In any manufacturing company Purchase Price Variance (PPV) Forecasting is an essential tool for unde...

Savings & Finance,

Purchase Order Process Steps and Procedures Simply Explained

  No matter how much training you give, purchase orders just keep getting people confused. While you...

Procurement Explained,

The Simple Request for Quotation (RFQ) Process for Procurement

Most business people are familiar with the abbreviations RFP and RFQ, but what is the difference, an...

RFP & POC,

Cost Reduction – The Common Language Between Finance and Procurement

  In many organizations, the relationship between finance and procurement is between unfriendly and ...

Savings & Finance,

Contract Lifecycle Management Explained

Managing commercial contracts is becoming an increasingly complex activity. The volume and variation...

Procurement Explained,

Supplier Relationship Management Do's and Don't's

Supplier relationship management (SRM) can be viewed as one of the few remaining opportunities for p...

Category Management,

10 Challenges in Contract Management and how to overcome them

Many CPOs would consider contract management being the basis for continuous supplier management when...

Category Management,

SavingsBridge – Our Solution to Connect Procurement and Finance

We recently introduced our new book Procurement Loves Finance, which is about building and nurturing...

Savings & Finance,

6 steps to measure real savings for indirect spend

I was having discussions a few weeks back with one of our clients regarding actual savings calculati...

Savings & Finance,

6 Key Learnings from 100+ Spend Cubes

During my three and a half years at Sievo, I have seen a vast number of spend cubes being created. W...

Spend Analysis,

12 Benefits of Advanced Spend Analysis

Having a robust spend analysis solution in place has become a prerequisite for running a professiona...

Spend Analysis,

The wider potential of analytics in procurement

Spend analysis has been around for a long time as a tool for procurement organizations to make bette...

Data & Analytics,

The challenge of bad procurement data quality

Spend analysis aims at creating a fact-based understanding of where a company spends its money: what...

Data & Analytics,
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