What’s the Difference between Procurement and Purchasing? (Infographic)

It’s a good question. We often see these terms used interchangeably, but there are some concrete differences between Procurement and Purchasing such that we think they are two different practices, each with their own set of concerns and skills.

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Revolutionizing Procurement: Empowering Professionals with Procurement Tactics’ Price Tracker Tool!

In today’s fast-evolving business world, staying ahead of the curve is not just a competitive edge but an absolute necessity. Recognizing this need, Procurement Tactics, a pioneering player in the procurement industry, has introduced its game-changing Price Tracker tool –  an innovative solution that promises to reshape the way procurement professionals approach price monitoring.

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Are You on the Supply Chain Naughty List or Nice List this Year?

Supply Chain is a very difficult business area to work in.  It is not for the faint of heart.  But the fact that it is such a challenging area, promising both risk and reward, is one of the things that makes it an exciting career path.  At any point you can be on the Naughty list or the Nice list.

These are hard jobs.  I’ve heard it said many times that just staying afloat in Supply Chain is success because there are so many things that could drown you from one day to the next.

And even though the Supply Chain is absolutely essential for running virtually any business the Supply Chain team doesn’t always get the recognition they deserve for keeping the company afloat.

So we felt that it was time to sit back and reflect on what kind of year you’ve had and think about what you’ve done, what you’ve overcome, and what you’ve accomplished.

What do you think?  Are you on the Naughty list or the Nice list?

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Supplier Quality Management: Drive Value By Safeguarding Value!

Fall is in the air.

Pumpkins are chunkin’, the leaves are changin’ and Thanksgiving cornucopias are being filled by the second. There’s something about autumns crisp air that makes me romanticize the ‘coziness’ of it all, but can you blame me?

As an ex-pat American, I sometimes forget that my associations with the autumn season don’t align with those of my friends here in Stockholm, Sweden. But, if there’s one thing we’ve all come to an agreement upon, it’s that Thanksgiving dinner is a must.

I introduced the tradition a few years ago and it’s been an annual event since then, hosted at my place- in potluck fashion. I fix the bird, stuffing, and taters, and each attendee stands for their own dish. It is a feast of epic proportions, and there’s a spread of food big enough to feed Coxey’s Army (as my Grandmother always says).

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Our 2017 Top 10 List! – Part 2

It’s been a tremendous first year at  supplychaingamechanger.com.  Our goal has always been to share experiences and expertise.  And in the second half of 2017 we had an ever increasing number of articles contributed by industry leaders all of whom have been very generous in sharing their intellect and insights.  This is our second 2017 Top 10 List.

Our readers and contributors come from all over the world.  They include individuals new to Supply Chain as well as Industry leaders and everyone in between.   And they work in many different industries and vocations.   But they all have a common interest in Supply Chain, Operations, Business, Leadership, Change Management, Human Resources, Transformation,  and Technology.

Most importantly they all have an interest in learning and sharing.

As we end this first year we wanted to publish our 2nd Top 10 List.  Our first Top 10 List covered the Top blog posts from the first half of 2017 so our 2nd Top 10 List will cover the second half of 2017.

Thank you for your tremendous, ongoing support.  

So here is our 2nd Top 10 List of 2017…

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Procurement Bots – Transformer or Destroyer?

The last few years have seen a lot of real (and over) hype associated with the emergence of Software Robots (called Bots/Bot) and Procurement Bots which are disrupting the legacy procurement processes involving human interface.

This research paper introduces the concept and evolution of the Bots, their characteristics with focus on Procurement processes, the Pros and Cons and debates on the transformation of the procurement function (vs destruction of human interface).

In summary – Bots will have a high appeal on the transactional and digital side of procurement processes and will gain exponential growth in the coming years with the advent of cognitive and machine learning tools.

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Tail Spend: The Hidden Procurement That’s Hurting Your Bottom Line!

In the fast-changing world of strategic Procurement, certain categories of spend get all the thunder: IT Procurement gets to help drive a company’s innovation. Business Services Procurement gets to restructure a company’s operations and drive competitiveness. Travel Procurement gets to look at pictures of exotic destinations all day (just kidding). But what about tail spend?

And most large companies are well aware – by now – of the cost savings and strategic advantages of being more strategic about the way you buy things in an organization. For the most part. For most of the stuff a company buys.

But there’s another sort of spend that never gets any love, a sleeping giant that’s actually costing companies millions of dollars and opening them up to risk: Tail Spend.

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What is Blockchain? And How Does it Work? (Infographic)

Blockchain!

What is all the fuss about?  It’s a word that was rarely used or even heard of in Supply Chain not that long ago.  But now it is very common to hear about Blockchain.  Further it is often used in the context of being a necessary and integral part of any Digital Supply Chain Strategy.

Most companies do not yet have a Blockchain strategy.  More importantly  most people do not even know what it is.  How can you have a strategy for something if you don’t know what it is?  So, as with anything, let’s start at the beginning.

What exactly is Blockchain?

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What is Tail Spend and Why Doesn’t it Wag Procurement?

Every Procurement organization is faced with the need to deliver cost savings. But virtually every Procurement organization ignores or gives lip service to an area that promises substantial savings opportunity: Tail spend.

What exactly is Tail spend? Why does it not get the attention that its saving potential promises? And what can companies do to tackle this area without compromising their focus on larger spend areas?

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Automating the Purchasing Department: Enhancing Efficiency and Excellence!

In today’s rapidly evolving business landscape, automation has emerged as a game-changer in various organizational functions, including the purchasing department.

By harnessing the power of technology, companies can streamline operations, reduce costs, and improve overall efficiency. However, the transition towards automation doesn’t aim to eliminate the role of top-tier buyers with exceptional skills and efficiency.

Instead, it seeks to optimize processes and minimize the reliance on repetitive tasks handled by lower-skilled labor. While studies and online discussions highlight the benefits of automation, they also emphasize the importance of senior professionals in validating the transition process.

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Seasoned Leadership in Action™ – An Interview with Stephany Lapierre, CEO at tealbook!

At Supply Chain Game Changer we believe in sharing experiences and expertise from people in every industry and from across the globe.  As such we have introduced our “Seasoned Leadership in Action™” Interview series at Supply Chain Game Changer. This interview is with Stephany Lapierre, Founder and CEO at tealbook.

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Using Lean Management for Inventory!

What is Lean Management for inventory?

What techniques are applied to make it successful?

More firms are implementing lean inventory management techniques to reduce costs, improve flexibility and have more time to focus on their customers.

Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits.

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Procurement Transformation Delays – The Role of Personality!

We’ve all heard of the need for Procurement to embrace the Digital Procurement transformation for many years. 

So why are so many organizations still in the beginning of this process?  

Why are industry projections failing to materialize despite ample technological advancements in Procurement?

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7 Essential Attributes of Strategic Supplier Partnerships!

Though the phrase partnership is often used, what really constitutes a strategic supplier partnership?

In a previous article about supplier management, I suggested that the more a supplier tells you that they are strategic, the less they really are. Strategic is a term that is often overused. Whether the phrase refers to sourcing, procurement, relationships, or other matters, its use is prevalent.

The notion of partnerships is equally ubiquitous and similarly both mis- and over-used. This article will identify a taxonomy for a strategic partnership between two parties.

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7 Signs of Excellent Procurement Teams!

Unchaining Change Leadership

Excellence, or superiority, is often the goal in corporate organizations. Each and every function, within its own right, including Procurement teams, strives for excellence and achievement in order for a company to collectively grow, evolve, and thrive.

Achieving excellence seldom comes easy. Hardships and roadblocks are to be expected taking the road less traveled towards change and transformation, but without daring to create something contemporary, one often settles for commonality.

There is no one answer to success and achievement, but there are parallels that can be drawn between organizations that simply exist, and those that prosper.

Procurement is a function that has long been at cross-roads; dare to transform within people, process & technology, or keep doing what has always worked just fine.

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