IBM Services
FEBRUARY 28, 2024
Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.
Obobo
DECEMBER 13, 2022
What is Third Park Risk Management? First, let’s start with understanding what risk management is. Risk management is the process of identifying, assessing, and controlling risks. By identifying risks early on, you can take steps to avoid them or mitigate their impact. Definition.
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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. And from that group, 71% would pay a premium for it.
Obobo
DECEMBER 13, 2022
What is Third Party Risk Management? First, let’s start with understanding what risk management is. Risk management is the process of identifying, assessing, and controlling risks. Now that we have a general understanding of risk management, let’s talk about third party risk management (TPRM).
The Hackett Group
DECEMBER 10, 2021
Industrialized Data & Analytics. Some have even spun off data and analytics as a business services function, headed by a chief data officer. They are also making major investments in developing and hiring staff with data science and analytics skills to extract and apply all potential value. Reap the Rewards.
Sourcing Advisors Group
OCTOBER 27, 2020
The growing approved supplier base and decreasing supplier visibility will further deteriorate what is already a bleak performance of most Strategic Sourcing teams. In fact, most firms generate no Strategic Sourcing bottom-line results, as Vendor Spending is increasing as fast, or faster, than Revenue growth. Shortcuts Do Not Work.
Sarah Holliman
DECEMBER 19, 2018
With so many avenues for entry, managing risk has become everyone’s job , and the sourcing organization is front and center as their direct relationship with third parties increasingly puts them in the driver’s seat. Consistency. This includes a consistent strategy, message and framework.
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