The procurement world is on the brink of a new era. As 2024 approaches, a wave of technological advancements promises to redefine eSourcing, turning today’s best practices into relics of the past. These innovations aren’t just upgrades—they are game-changers, reshaping the procurement landscape and setting the bar for what’s possible. The question is no longer […]
True transformation stems from passion, tenacity, and the audacity to embrace change. At Seaboard Corporation, a leading global agribusiness and key player in the grain and flour milling industry, this transformation was driven by the need to modernize their procurement process and stay competitive in a rapidly evolving business landscape. The Challenge For years, Seaboard […]
Spend classification can often go unnoticed, despite its critical influence over successful procurement strategy. Accurate classification of products, services, and suppliers forms the foundation for improved decision-making, cost optimization, and enhanced supply chain management. In this blog post, we’ll explore the significance of spend classification in eSourcing and its vital connection to eSourcing technology platforms. […]
When we make more environmentally friendly sourcing choices, we can reduce greenhouse gas emissions and minimize our impact on the environment. In our previous blog post, we discussed the benefits of sourcing locally. Today we’ll take a closer look at one of those biggest benefits—reducing your carbon footprint—a crucial part of sustainable development. It’s become […]
As consumers become more conscious of unethical supply chain practices and the impact of their purchasing decisions on local economies, companies are increasingly looking to local sourcing to support their communities and foster brand loyalty. By backing or nearshoring parts of their production process, companies can support local businesses and entrepreneurs while also reducing transportation […]
Procurement’s Got the Mic – Ready to Rock IT? Curious about what makes 2021 – 2025 such a special time for procurement and sourcing leaders? Join us and guest panelist, Dr. Elouise Epstein, Digital Futurist at Kearney and author of the reason book, “Trade Wars, Pandemics, and Chaos: How Digital Procurement Enables Business Success in […]
Procurement Technology Review of EC eSourcing and EC Optimize EC Sourcing Group – A Practitioner’s Perspective by Kumar Kannen at Procural: I am going to dig into the fast-evolving world of sourcing technology from a practitioner’s perspective as part of an on-going series. Most reviews that I have seen are too high level and don’t […]
Could Your eSourcing System Be a Marketing Tool to Attract New Suppliers? Shouldn’t all suppliers be thrilled with the opportunity to do business with your company? Your eSourcing system should be an asset that makes responding to your RFPs a pleasure and not a dreaded chore. If fact, if your system helps suppliers respond quickly […]
The Impact of Limited Options in Procurement Procurement strategy can be a challenge when many of the traditional options are limited. Wouldn’t our job be easy if every product or service had multiple vendors or suppliers ready and willing to compete for your business? I was recently helping a client identify areas where a structured […]
Procurement Factors Other than Price that Impact Competitive Advantage Procurement professionals want to achieve measurable savings but there are many factors other than price that impact competitive advantage. As a buyer I love to get a very competitive bid for a product or service. Then I put my procurement hat on and list out the […]