Sourcing Captain

SEPTEMBER 16, 2021

As we have discussed in our previous blogs, strategic sourcing is the perfect and innovative way to reduce costs, achieve a faster time to market and improve the quality of the final product. Today, businesses and sourcing managers focus much beyond cost savings.

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Strategic Sourcing Sourcing Management Reduced Costs 130

Everest Group

MARCH 29, 2022

These challenges have pushed the focus from cost savings to finding business value and generating revenue from IT procurement. Global sourcing leaders Vendor management leaders Procurement leaders Portfolio strategy professionals Category managers. Sahil Loomba. Senior Analyst. Bhanushee Malhotra.

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IBM Services

FEBRUARY 19, 2024

The pandemic and its aftermath highlighted the importance of having a robust supply chain strategy , with many companies facing disruptions due to shortages in raw materials and fluctuations in customer demand. Here’s how companies are using different strategies to address supply chain management and meet their business goals.

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Obobo

MARCH 23, 2023

For companies looking to reduce costs, procurement is often one of the first places they look. Cost reduction during procurement processes can be accomplished through various strategies that range from the short-term to medium and long-term goals. Here are some of the top strategies that can help: 1.

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Everest Group

OCTOBER 20, 2023

Leaders were more cautious and prioritized cost optimization. In the survey, price and cost margin pressures ranked as the top business challenge expected in 2023, and subsequently, cost optimization emerged as the highest business priority for the year. Exhibit 1: Key financial metrics for providers for 2022-23 2.

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Service Offshoring Global Business Services Information Technology 59

Obobo

OCTOBER 18, 2022

Procurement Cost Savings: 19 Strategies That Work. Procurement is one of the most important functions in any business. However, with so many companies trying to do it all themselves, procurement can quickly become a drain on resources. Doing so can result in large savings. Table of Contents.

Government 52

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IBM Services

APRIL 25, 2024

This blog outlines some BPR examples that benefit from a BPM methodology. BPR examples: Use cases Streamlining supply chain management Using BPR for supply chain optimization involves a meticulous reassessment and redesign of every step, including logistics, inventory management and procurement.

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Offshore India Data Entry

FEBRUARY 29, 2024

By partnering with an Offshore BPO company focused on legal data entry, law firms can optimize efficiency and accuracy while reducing costs. The savings from outsourcing also fund key growth initiatives. Cost-Effectiveness and Scalability Budget is a critical factor for most businesses, irrespective of their size.

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Everest Group

MAY 23, 2023

However, those metrics stabilized in the first few months of 2023, and due to today’s economic environment, the focus has turned to cost control. To make the best decisions going forward and fulfill their cost-cutting mandates, business leaders must stay on top of these shifts.

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Obobo

FEBRUARY 1, 2023

What is Category Management Procurement? If you’ve ever heard of category management procurement (CMP), you may be wondering what it is and how it works. CMP is a system of purchasing that combines the expertise of vendors, buyers and suppliers to optimize value for all stakeholders in a procurement process.

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Obobo

MARCH 20, 2023

What Do You Do In Procurement And Why Is It Important? Procurement is one of those buzzwords that gets thrown around a lot in the world of business. In this blog post, we’ll dive into the exciting world of procurement and explore its vital role in helping organizations achieve their goals.

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IBM Services

FEBRUARY 13, 2024

For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals. Specific types of sourcing minimize costs in different ways.

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Everest Group

DECEMBER 2, 2021

This overarching term means encouraging partnering with businesses owned by minorities, women, veterans and service-disabled veterans, members of the LGBT community, and other historically underutilized businesses, and small business concerns for business procurement. Thus, impact sourcing is impactful sourcing – for the bottom line too!

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Obobo

MARCH 20, 2023

What Is Direct And Indirect Procurement And Why Is It Important? Procurement is a crucial aspect of any business’s success. However, not all procurement processes are the same or yield similar results. Direct and indirect procurement differ in their scope, process, objectives, and impact on businesses.

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Obobo

MARCH 20, 2023

What Are Procurement Policies And Why Is It Important? Then, it’s time to prioritize procurement policies. Procurement policies dictate how goods and services are purchased within an organization, from selecting vendors to negotiating contracts. So buckle up and get ready for a crash course in procurement!

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Planergy Software

JANUARY 19, 2024

Learn more We saved more than $1 million on our spend in the first year and just recently identified an opportunity to save about $10,000 every month on recurring expenses with Planergy. How to report and analyze indirect spend to identify savings opportunities. How to gain visibility and control of your indirect spend.

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Obobo

FEBRUARY 14, 2023

When it comes to the success of businesses, cost management is a key factor. Contrary to the direct costs associated with goods or services, the indirect costs associated with the operation of the business can often be overlooked- and yet, these costs can make up a large percentage of a company’s overall spending and total cost of ownership.

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Obobo

APRIL 5, 2023

What Is Procurement Esg? Have you heard of procurement ESG? Rather, it’s the latest buzzword in sustainable procurement practices that is gaining traction in industries around the world. So, what is procurement ESG exactly? So, what is procurement ESG exactly? What is procurement? What is Esg?

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Obobo

MARCH 7, 2023

What Are The Benefits Of Using Procurement Sourcing In Procurement? Procurement sourcing has become a crucial aspect of procurement strategy for businesses across the globe. So buckle up and get ready to discover why procurement sourcing is critical for every business! Procurement sourcing can save you time.

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Obobo

FEBRUARY 1, 2023

What is Cognitive Procurement? In the digital age, procurement is a vital part of any business. Companies need to be able to source materials quickly and efficiently in order to remain competitive, and this is where cognitive procurement comes into play. What is cognitive procurement?

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Obobo

MARCH 9, 2023

What Are The Benefits Of Using Contract Management In Procurement In Procurement? Are you looking to streamline your procurement process and improve overall efficiency? The benefits of using contract management in procurement are numerous. Look no further than contract management! What is Contract Management?

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Obobo

JANUARY 13, 2023

What is Cost Effective Procurement? Cost effective procurement is an important concept in the world of business and finance. In this blog post, we will explore what cost effective procurement is, why it is important, and how to make sure that you are doing it properly. What is procurement?

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Obobo

MARCH 9, 2023

What Are The Benefits Of Using An Invoice Management Process In Procurement? Are you tired of the manual and time-consuming process of managing invoices in procurement? This technology not only streamlines your invoicing processes but also offers numerous advantages that can save your business both time and money.

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Obobo

MARCH 20, 2023

Do you want to streamline your procurement process and get more accurate quotes in less time? Request For Quotation (RFQ) is a powerful tool that can help you improve your sourcing strategy, save money, and boost efficiency. RFQs can help businesses make informed decisions about what they need and how much it will cost.

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Obobo

MARCH 20, 2023

What Is Procurement Category Management And Why Is It Important? Attention all business owners, procurement managers and curious readers alike! Have you ever wondered how successful companies manage their procurement practices? The answer lies in Procurement Category Management.

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Management Efficiency Service 40

Planergy Software

MARCH 2, 2023

Clients and results More Customers We saved more than $1 million on our spend in the first year and just recently identified an opportunity to save about $10,000 every month on recurring expenses with Planergy. How to report and analyze indirect spend to identify savings opportunities.

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Obobo

DECEMBER 15, 2022

That’s why many organizations have started using strategic sourcing software to make their processes more efficient, accurate, and cost-effective. In this blog post, we will explore the benefits of using such a tool and how it can help you reach your goals faster. Perhaps the most obvious reason is to save time and money.

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Planergy Software

OCTOBER 20, 2022

We saved more than $1 million on our spend in the first year and just recently identified an opportunity to save about $10,000 every month on recurring expenses with PLANERGY. Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. More Customers. King Ocean.

Supply Chain Management 52

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Obobo

MARCH 7, 2023

What Are Variable Costs And How Do They Affect Businesses In Procurement? One of the most important aspects of keeping your business afloat is being aware of the different costs involved in procurement. Some expenses are fixed, while others vary depending on several factors – these are what we call variable costs.

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Insurance Efficiency Accounting Management 40

Obobo

NOVEMBER 28, 2022

Mergers and acquisitions (M&A) are a type of corporate strategy used to grow a company through the purchase of another company. The goal of an acquisition is to create shareholder value by adding new products, technologies, or market access, or by removing cost from the combined company. Read Full Blog. No hidden costs.

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Obobo

MARCH 9, 2023

What Are The Benefits Of Using Contract Management Technology In Procurement? Do you wish there was an efficient, streamlined way to manage your procurement process? This innovative solution has revolutionized the procurement industry, saving businesses time and money while increasing productivity. Let’s dive in!

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Obobo

MARCH 7, 2023

What Are Volume Discounts And How Do They Work In The Supply Chain In Procurement? Are you tired of paying full price for your procurement needs? Are you looking for ways to save money on your supply chain expenses? In this blog post, we’ll explore what volume discounts are and how they work in the world of procurement.

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Everest Group

NOVEMBER 23, 2023

To achieve their goals through AWS, e nterprises need to consider strategic alignment, cost optimization, technical implementation, organizational readiness, and continuous improvement. L earn the key questions stakeholders should ask when evaluat ing their AWS cloud strategy in this blog.

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Everest Group

MAY 19, 2023

Going forward, insurers will prioritize cost reduction and may cut back on discretionary spending to save costs. Given the situation, insurers are expected to use outsourcing as a popular cost mitigation strategy, which provides ample growth opportunities for providers.

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Offshore India Data Entry

NOVEMBER 3, 2023

Outsourcing medical billing data entry to experienced BPO companies in India can help healthcare providers improve revenue cycle management, reduce costs, and streamline operations. Also, administrative costs, including medical billing, constitute a significant contributor to the growing costs.

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SIG Speaks

OCTOBER 1, 2021

It has been a wild year, with the Procurement function emerging to the forefront of the business from the pandemic. Procurement 3.0 For Asset Intensive companies, getting a handle on vendors, assets and parts has been a huge problem from a cost, risk, and performance standpoint. is here and we continue to lead the conversation.

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Obobo

MARCH 20, 2023

What Is Source Selection In Procurement And Why Is It Important? Procurement is a critical function in organizations, and it involves selecting the right suppliers for goods and services required by the business. What is source selection in procurement? One of the most important considerations is company size.

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