Advanced Purchasing Strategies
Webinar Details $219
- Rated:
- Webinar Length: 100 Minutes
- Guest Speaker: Michael W. Gozzo
- Topic: Purchasing, Taxation and Accounting
- Credit: ATAPU 1.5, ATATX 1.5, CPE 2.0
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There are new roles that require a thorough understanding of functional interrelationships if you are to succeed.
This presentation identifies the elements needed to provide a business with best materials and/or service. Understand how to bring together the concepts of Total Cost, Lean/Six Sigma, Certification Process of Suppliers, and the new relationships necessary to ensure success. A convergence of AI, AA and other new technologies will empower businesses with tools and information to get goods & services that they need.
Automation drives efficiency and creates new opportunities for procurement to add value in areas not previously done. Purchasing leaders must orchestrate end-to-end processes with strategic perspective.
Your Benefits of Attending:
- Gain insight into Blockchain's role in purchasing.
- Learn about the role that Artificial Intelligence is playing in Purchasing and why that is so important to you.
- Understand emerging technologies and how to integrate them into your practices with customers and suppliers.
- Understand the principles of Business Process Management and how to employ it.
- Gain proven processes for implement new technologies.
Join Michael Gozzo as he takes your Purchasing strategies to the next level.
- Introduction
- Content 00:02:15
- Objective of Presentation 00:04:36
- Section One - Today’s Environment 00:04:36
- What Is Change? 00:04:46
- Successful Companies 00:05:50
- Section Two - Functional Leadership 00:06:42
- Functional Leadership 00:07:00
- Guidelines For Supplier Improvement Programs 00:08:20
- Goals & Objectives For Supplier Improvement 00:12:08
- Goals & Objectives Cont’d 00:16:25
- Goals & Objectives Cont’d 00:22:36
- Defining The Problem-Solving Process 00:27:36
- Fix vs. Solution 00:30:05
- Practicality 00:31:07
- Pareto Chart 00:31:54
- Section Three - Where to Begin 00:35:11
- Where to Begin 00:35:17
- Business Process Management Mission and Goals 00:35:57
- BPM - Value Proposition 00:38:16
- Section Four - The New Technologies 00:44:17
- Why This Push? 00:44:33
- What Are The Technologies 00:47:00
- Artificail Inteligence 00:47:59
- AI - Application 00:49:09
- Blockchain - BC 00:53:31
- How Blockchain Works 00:54:54
- Blockchain Application 00:56:40
- Internet of Things (IOT) 00:59:07
- IOT - How It Works 01:00:23
- IOT - Application - Intent 00:01:46
- Advanced Analytics (AA) 01:07:55
- AA Techniques 01:09:02
- Control Tower 01:10:34
- Control Tower (Cont’d) 01:13:02
- Control Tower (Cont’d) 01:14:31
- Section Five 01:16:32
- Spend Visibility 01:17:13
- Application Areas 01:18:15
- Section Six 01:22:16
- How To Implement 01:22:44
- Four (4) Stages 01:23:07
- Four (4) Stages (Cont’d) 01:25:33
- Six Execution Steps 01:27:07
- Six Execution Steps (Cont’d) 01:28:39
- Who Will Be Involved and Why? 01:30:19
- Recap 01:32:33
- Q & A 01:35:58
- Closing Remarks 01:42:17
- Presentation Closing 01:45:12
- 80-20 Pareto Rule 00:34:53
- Advanced Analytics (AA) 00:48:02, 01:08:04
- Artificial Intelligence (AI) 00:48:13, 00:53:22
- Blockchain 00:53:39, 00:56:47
- Business Process Management 00:35:40, 00:43:23
- Contract 00:56:34, 01:19:47
- Control Tower (CT) 01:10:42
- Cost 00:19:41, 00:22:13, 00:25:58, 00:43:02, 01:03:23
- Decentralized Autonomous Organizations (DAOs) 00:56:40
- Forcast 00:22:16, 01:09:15
- Internet of Things (IOT) 00:57:44, 00:59:14
- Inventory 00:20:51
- Invoice 01:14:31
- Key Performance Indicator (KPI) 01:14:31
- Lead Time 00:17:52, 00:21:09, 00:41:30
- Pareto Analysis 00:32:10
- Procurement 01:17:34, 01:21:04, 01:33:10
- Purchase Order 01:14:31
- Supplier 00:07:18, 00:09:31, 00:10:25, 00:12:43, 00:18:15, 00:26:14, 00:34:31, 01:19:18
- Supply Chain 00:07:43, 01:13:36
- Total Quality Management (TQM) 00:25:27
- Value Analysis 00:26:30
80-20 Pareto Rule: The Pareto principle states that, for many events, roughly 80% of the effects come from 20% of the causes.
Advanced Analytics (AA): Advanced Analytics is the autonomous or semi-autonomous examination of data or content using sophisticated techniques and tools, typically beyond those of traditional business intelligence (BI), to discover deeper insights, make predictions, or generate recommendations.
Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.
Blockchain: Blockchain.com is a Bitcoin block explorer service, as well as a cryptocurrency wallet supporting Bitcoin, Bitcoin Cash, and Ethereum. They also provide Bitcoin data charts, stats, and market information.
Business Process Management: Business process management is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to manage a company's business processes is BPM.
Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Control Tower (CT): A procurement control tower is a modernized, centralized procurement nerve-center. This location acts as a solution designed to unify procurement systems, data, and multiple enterprises within a secure and cloud-native environment.
Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location
Decentralized Autonomous Organizations (DAOs): A decentralized autonomous organization (DAO) is an emerging form of legal structure that has no central governing body and whose members share a common goal to act in the best interest of the entity.
Forecast: A method used to predict inventory levels for a future time period.
Internet of Things (IOT): The Internet of things describes physical objects with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or other communications networks.
Inventory: A company's inventory typically involves goods in three stages of production: raw goods, in-progress goods, and finished goods that are ready for sale. Inventory or stock refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilization.
Invoice: An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer. Payment terms are usually stated on the invoice.
Key Performance Indicator (KPI) : A Key Performance Indicator is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs at multiple levels to evaluate their success at reaching targets.
Lead Time: The number of days from when a company places an order for supplies, to when those items arrive.
Pareto Analysis: Pareto analysis is a formal technique useful where many possible courses of action are competing for attention. In essence, the problem-solver estimates the benefit delivered by each action, then selects a number of the most effective actions that deliver a total benefit reasonably close to the maximal possible one.
Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.
Purchase Order: A legal contract between a buyer and a vendor. It lists the materials or services to be purchased on specified terms and conditions (quantity, price / pricing conditions, delivery date).
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
Supply Chain: A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. The supply chain also represents the steps it takes to get the product or service from its original state to the customer.
Total Cost of Ownership (TCO) : Total cost of ownership is a financial estimate intended to help buyers and owners determine the direct and indirect costs of a product or system. It is a management accounting concept that can be used in full cost accounting or even ecological economics where it includes social costs
Value Analysis: The systematic and critical assessment by an organization of every feature of a product to ensure that its cost is no greater than is necessary to carry out its functions.
