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Indirect Spend

Understanding the Value of Using 3PL for GNFR

3PL organizing their facility to service a retailer's changing needs
Understanding the Value of Using 3PL for GNFR 3PL organizing their facility to service a retailer's ever changing needs. Third-party logistics services (3PLs) are often used by big companies for nearly all of their logistics needs. However, 3PLs today have taken on a lot more responsibility for their customers than when they first came into existence. Due to their inherent flexibility to expand and contract, 3PLs have become a popular choice to manage GNFR storage and freight costs. Wh...
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Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend

Taming the beast of Indirect Spend
Understanding the Importance of Controlling Supplier and 3PL On-Time Delivery for Indirect Spend Controlling On-Time Delivery (OTD) of GNFR purchases is a major means to protect and safeguard the enterprise’s valuable capital. Late deliveries and failures to deliver can negatively impact operations and prevent the on-time completion of mission critical projects resulting in huge losses. Gaining control of On-Time Delivery to mitigate these risks is critical. What Is On-Time Delivery C...
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Understanding the Difference Between P2P and On-Time Delivery Control for Indirect Spend

Understanding the Difference Between P2P and On-Time Delivery Control for Indirect Spend P2P (Purchase-to-Pay) and On-Time Delivery Control systems are often mistaken as being identical, but in fact, they are fundamentally different. P2P is the financial processes connecting purchasing to invoice settlement whereas On-Time Delivery Control ensures the on-time delivery of purchases. Neither system competes with the other, but instead are entirely complementary. When implemented together, ...
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Understanding the Benefits of P2P for Indirect Spend

Understanding the Benefits of P2P for Indirect Spend P2P, or Purchase to Pay / Procure to Pay, is one of many industry terms referring to systems that link purchasing to accounts payable. An efficient P2P system can improve your company’s risk management, compliance, cost control and bottom line. What Is P2P? P2P refers to fully integrated business processes that covers the end-to-end activities of requesting (or requisitioning), receiving, and paying for goods and services. Procur...
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Understanding On-Time Delivery’s Impact Upon Project Timelines

Hitting deadlines
Making sure everything's delivered On-Time so that each project can be completed before the deadline. Understanding On-Time Delivery’s Impact Upon Project Timelines Receiving everything you need for a given project on time is crucial to your business. A contractor will give you, his client, an estimated completion timeline that relies upon obtaining materials on time to complete the buildout. If any part of that process is flawed, the contractor’s entire deadline will change, resulting in...
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Understanding How On-Time Delivery Delays Increase Project Budget Risks

Understanding How On-Time Delivery Delays Increase Project Budget Risks Delayed shipments can be costly There are many intricacies involved in the execution of a project to ensure that the project is completed on time and within budget. Receiving everything On-Time, which requires coordination from all parties in the supply chain from the manufacturer to the buyer is one of the biggest execution pieces of any project. What Is On-Time Delivery? The definition of On-Time Delivery is e...
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Scoring Supplier On-Time Delivery Best Practice

Calculating On-Time Delivery
Scoring Supplier On-Time Delivery Best Practice Monitoring On-Time Delivery (OTD) supplier performance is crucial for all enterprises with a significant GNFR (goods not for resale) spend. Enterprises who actively manage supplier On-Time Delivery percentage protect their capital, revenue and profits. The Importance of Achieving Near Perfect Supplier On-Time Delivery Percentage Scores Ensuring suppliers are delivering On-Time is absolutely essential for GNFR risk mitigation. Each ent...
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The Trucker Shortage & Importance of Managing On-Time Delivery Execution

The Trucker Shortage & Importance of Managing On-Time Delivery Execution According to industry experts, there is a significant shortage of truck drivers in America right now that is impacting the economy in a big way. In recent reports, there are more than 60,000 openings, and that number is expected to double in the coming years. Companies in the trucking industry are attempting to address this issue by doing things such as expanding their hiring criteria in hopes of filling thos...
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Breaking Down Indirect Spend Optimization Barriers

Breaking through Indirect Spend Barriers
Breaking Down Indirect Spend Optimization Barriers Indirect spend can represent anywhere from 20-40% of a company’s revenue, making it a huge factor to the bottom line and profitability for any organization. And while there are not many completely new challenges to managing it, there are always new ways to address the optimization and investigation of the expense. Indirect Spend Optimization Procurement optimization measures must be taken on every level of operations, but it is esp...
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Digitize GNFR On-Time Delivery to Manage Supplier Performance

Digitize GNFR On-Time Delivery to Manage Supplier Performance Some companies still use manual processes by using the telephone, email and spreadsheets to manage GNFR (goods not for resale) supplier performance. While this system may have worked for smaller, less complex organizations, it is obsolete for lean, large, dynamic, and more complex organizations. There are multiple technologies available that can help manage different aspects of GNFR spend. These newer technologies are important f...
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