SIG Speaks

MAY 10, 2022

Our supplier risk management team also sits outside of the corporate procurement department. This could be anyone from information technology support, legal, supplier risk management, and even the supplier outside the company running the engagement. Lastly, there needs to be measurement and accountability. .

Sourcing 40

Sourcing Risk Management Risk Management Strategic Sourcing 40

Planergy Software

OCTOBER 18, 2023

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Employee Safety and Security The program ensures that employees travel with reputable providers and have access to support services during their trips.

Finance 52

Finance Reduced Costs Management Risk Management 52

Everest Group

OCTOBER 14, 2021

It may seem at times that the IT and procurement departments can be on different planets when it comes to IT sourcing services spend. The typical procurement team is not involved in nearly half of their company’s services spend, as can be seen in the exhibit below. Source: Statista (2021). trillion in 2021, an 8.6%

Sourcing 52

Sourcing Cybersecurity Right-Sizing Risk Management 52

Planergy Software

APRIL 19, 2022

Procurement is responsible for finding and managing the proper outside resources for a business. Selecting the right services or vendors plays an important role in properly managing your business. Services: If you utilize professional services in your business, you will need to involve the procurement department.

Finance 52

Finance Accounting Out-Tasking Manufacturing 52

Planergy Software

MARCH 24, 2022

As you draft these contracts, make sure they follow your vendor management policy guidelines. Define your scope of work (SOW) or service-level agreements (SLAs) outside of your boilerplate policy document. It also involves risk management, supplier relationship management (SRM), and contract management.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Obobo

MARCH 21, 2023

Procurement savings refer to the cost reductions that are achieved by a company when it purchases goods and services through a strategic sourcing process. By adopting best practices such as spend analysis, supplier management, and e-procurement , companies can save money and increase efficiency. What is Procurement?

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Planergy Software

JANUARY 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How businesses operate and how consumers shop and receive the goods and services they need. Supply chain and risk management has forever changed as a result. Download Free Copy. Written by. Keith Murphy.

Supply Chain Management 52

Supply Chain Management Manufacturing Sourcing Retail 52

Obobo

MARCH 23, 2023

11 Cost Reduction Strategies in Procurement Procurement is a crucial function in businesses, responsible for acquiring the goods and services needed to keep operations running smoothly. However, managing procurement can be costly, and costs can add up quickly.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52

Planergy Software

MARCH 29, 2022

Here’s another point worth noting — organizations often overlook the accounts payable department while trying to make better use of data. AP manages critical financial data that can provide valuable insights for discovering potential savings.

Analytics 52

Analytics Accounting Finance Strategic Sourcing 52

Future of Sourcing

MAY 9, 2023

It does this by allowing for the suppliers' most effective standard services with minor alteration and a thorough grasp of the acquired services. Inculcating Contingency Planning The first step in risk management during a crisis is having a strategy. When a crisis strikes, alternatives become crucial to staying ahead.

Sourcing 52

Sourcing Collaborations Analytics Strategic Sourcing 52

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This can involve activities such as acquiring or establishing distribution channels, retail outlets, or service centers. How to gain visibility and control of your indirect spend.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52