On-Demand Webinar
How AI is shaping the future of indirect procurement
Want to see more?
Explore our other resources
MADISON HEIGHTS, MI, August 29, 2018 – Xeeva, Inc., a global provider of AI-powered source-to-pay software, announced today that it has been included as one of four solution providers in the 2018 Gartner Cool Vendors for Procure-to-Pay Applications report. Procurement and sourcing technology providers were chosen by Gartner for this report based on their unique and innovative solutions that leverage AI to augment complex tasks. These solutions must be able to assist procurement in working...
So now that you know what spend under management (SUM) is, how would you go about adopting such a framework? SUM is built on creating a partnership between indirect procurement and operations along five key operating principles across sourcing, contracting, buying, and spend decision-making. At its foundation is executive leadership with joint operating targets established between indirect procurement and the operating groups they support. The actual SUM model measures the maturity of the organization across...
There are many challenges for achieving supplier rationalization and standardization. A typical tactic deployed by procurement organizations is trying to reduce the variety of similar items that the organization purchases. The reasons for this rationalization go beyond cost savings and can include: Supplier diversity initiatives Supply mitigation and management Going green Ultimately, standardizing is not as easy as it may first appear. Take, for example, an organization with multiple manufacturing plants, each of which buys tens of...