Article, Automation, Reduced Costs and Strategic Sourcing

How Strategic Procurement Can Give You a Competitive Advantage

Planergy Software

MAY 5, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How Strategic Procurement Can Give You a Competitive Advantage. Procurement Strategic Sourcing. No longer can strategic sourcing be just in time and just in case. Download Free Copy.

Strategic Sourcing

Strategic Sourcing Sourcing Reduced Costs Supply Chain Management

The Future of Procurement and Sourcing: The Effects of Artificial Intelligence in the Industry

SIG Speaks

OCTOBER 12, 2023

SIG University Certified Sourcing Professional (CSP) program graduate Lauren Redden shares an excellent essay on the power of AI to transform the smart sourcing industry, in balance with the potential risks that companies must evaluate in employing more intelligent automation into their processes.

Sourcing

Sourcing Strategic Sourcing Outsourcing Regulations

Tail Spend Analysis: What Is It, How To Perform It, and the Benefits

Planergy Software

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Introduction To Tail Spend Analysis Tail spend analysis examines a company’s spending patterns and identifies opportunities to reduce costs and improve efficiency.

Strategic Sourcing

Strategic Sourcing Reduced Costs Sourcing Efficiency

11 Cost Reduction Strategies in Procurement

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. Short-term Cost Reduction Strategies Short-term Cost Reduction Strategies: 1.

Reduced Costs

Reduced Costs Inventory Management Automation Sourcing

Pareto Analysis in Procurement: How To Use Spend Analysis To Cut Costs

Planergy Software

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Additionally, since it requires minimal effort and resources compared to other cost analysis methods, it has become a popular choice among many businesses looking for ways to optimize their budgeting process.

Supply Chain Management

Supply Chain Management Reduced Costs Robotics Process Automation Analytics

Turning Data Into Actionable Insights

Planergy Software

MARCH 29, 2022

This step can make or break an organization’s ability to understand its data better and leverage it to maximize profitability, reduce cost, and create value for shareholders. Translate information into insights The final step is to derive the required information to make better strategic decisions and generate more value from data.

Analytics

Analytics Accounting Finance Strategic Sourcing

What Are The Benefits Of Using Purchase Management Software In Procurement?

Obobo

MARCH 7, 2023

Benefits of using purchase management software include increased efficiency, improved accuracy, and reduced costs. First, it can automate repetitive tasks such as creating purchase orders and sending them to suppliers. This frees up time for Procurement professionals to focus on more strategic tasks.

Software

Software Management Reduced Costs Data Entry

What is Procurement Cost Savings? – Definition

Obobo

JANUARY 15, 2023

Procurement cost savings is the process of reducing costs associated with acquiring goods or services, without sacrificing quality. In this article, we will explore the definition of procurement cost savings, as well as its advantages and disadvantages. The different types of procurement cost savings.

Reduced Costs

Reduced Costs Out-Tasking Strategic Sourcing Automation

Budgeting Process: Steps and Best Practices for Planning a Budget

Planergy Software

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Budgeting is a vital aspect of financial management that helps businesses allocate resources effectively, control costs, and achieve their financial goals. Download PDF What’s your goal today?

Finance

Finance Software Accounting Management

Corporate Travel Program: How To Create a Program for Employer and Employee Needs

Planergy Software

OCTOBER 18, 2023

Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Many readers tell us they would have paid consultants for the advice in these articles.

Finance

Finance Reduced Costs Management Risk Management

The Top 8 Business Travel Management Tools

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Corporate travel management software streamlines business travel processes by automating tasks such as booking flights, tracking expenses, and providing insights into travel spending patterns.

Management

Management Right-Sizing Software Finance

Preferred Vendor: What They Are and Why You Should Have A Preferred Vendor Program

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. IN THIS ARTICLE. By developing a PSP, an organization can streamline its procurement process, reduce costs, and improve quality and service levels. Download Free Copy. Written by. Keith Murphy.

Reduced Costs

Reduced Costs Finance Accounting Strategic Sourcing

RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. RFIs can also help buyers identify potential suppliers and compare them against each other, which is crucial for strategic sourcing. How to gain visibility and control of your indirect spend. Written by.

Supply Chain Management

Supply Chain Management Strategic Sourcing Sourcing Finance

How To Calculate Procurement Savings

Obobo

DECEMBER 17, 2021

In light of the ongoing effects of the pandemic, it is essential that businesses keep track of all cost reduction initiatives and strategic sourcing in order to survive harsh economic declines. To configure, manage, and track custom savings, procurement teams often use source-to-pay or finance software. Table of Contents.

Strategic Sourcing

Strategic Sourcing Finance Software Out-Tasking

Using Supplier Segmentation To Maximize Supplier Relationships

Planergy Software

FEBRUARY 8, 2022

Strategic Sourcing Supplier Performance Supplier Relationship Management. Why is developing collaborative relationships with your most strategic suppliers crucial to your success? It helps to make process improvements, reduce costs, and continues to encourage innovation in the products or services you offer.

Strategic Sourcing

Strategic Sourcing Supply Chain Management Collaborations Finance

Supplier Tiers: What’s The Difference Between Tier 1, Tier 2, and Tier 3

Planergy Software

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. IN THIS ARTICLE. Creating Strategic Partnerships. Supplier tiering also helps reduce costs by eliminating inefficient or unnecessary processes in the supply chain. Download Free Copy.

Supply Chain Management

Supply Chain Management Regulations Manufacturing Finance

Supplier Management Best Practices

Planergy Software

MARCH 24, 2022

Create and Maintain a Supplier Database It’s crucial to own a detailed and current supplier database as this will help in planning, reducing costs, choosing new vendors, and promoting strong supplier relationships. Browse hundreds of articles , containing an amazing number of useful tools, techniques, and best practices.

Management

Management Insurance Supply Chain Management Right-Sizing

Everything you need to know about Procurement savings

Obobo

MARCH 21, 2023

Procurement and Finance teams are no different – they’re passionate about cutting costs and creating value for the company. In this article, we’ll look at what Procurement teams need to understand about savings so that they can identify every possible opportunity for their organization. What is Procurement? What is Procurement ?

Finance

Finance Strategic Sourcing Software Reduced Costs

Big Data Analytics: What It Is and Why It Is Important

Planergy Software

OCTOBER 4, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. IN THIS ARTICLE. Another advantage of big data analytics is that it can help organizations reduce costs and improve efficiency. Download Free Copy. Written by. Rob Biedron. 21 min read.

Analytics

Analytics Out-Tasking Right-Sizing Sourcing

Supplier Consolidation: What It Is, Benefits, and Risks

Planergy Software

NOVEMBER 29, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Best Practices & Tips Strategic Sourcing Supplier Relationship Management. Vendor consolidation provides several benefits, including: Reduced Costs through Economies of Scale.

Strategic Sourcing

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management

Horizontal vs. Vertical Integration: A Comprehensive Guide

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Use Planergy to manage purchasing and accounts payable We’ve helped save billions of dollars for our clients through better spend management, process automation in purchasing and finance, and reducing financial risks.

Manufacturing

Manufacturing E-Commerce Human Resources Marketing

Procurement Methods: How To Source and Evaluate The Best Suppliers To Work With

Planergy Software

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Open tendering is preferable as it allows companies to apply for multiple contracts at once, resulting in more efficient use of resources and reduced cost-over-runs from multiple procurement processes.

Sourcing

Sourcing Strategic Sourcing Finance Automation

Multi-Academy Trust (MAT): What Is It and How Can Schools Benefit?

Planergy Software

DECEMBER 11, 2023

Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Many readers tell us they would have paid consultants for the advice in these articles.

Government

Government Collaborations Finance Accounting

Global Sourcing Brief

How Strategic Procurement Can Give You a Competitive Advantage

The Future of Procurement and Sourcing: The Effects of Artificial Intelligence in the Industry

Trending Sources

Tail Spend Analysis: What Is It, How To Perform It, and the Benefits

11 Cost Reduction Strategies in Procurement

Pareto Analysis in Procurement: How To Use Spend Analysis To Cut Costs

Turning Data Into Actionable Insights

What Are The Benefits Of Using Purchase Management Software In Procurement?

What is Procurement Cost Savings? – Definition

Budgeting Process: Steps and Best Practices for Planning a Budget

Corporate Travel Program: How To Create a Program for Employer and Employee Needs

The Top 8 Business Travel Management Tools

Preferred Vendor: What They Are and Why You Should Have A Preferred Vendor Program

RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

How To Calculate Procurement Savings

Using Supplier Segmentation To Maximize Supplier Relationships

Supplier Tiers: What’s The Difference Between Tier 1, Tier 2, and Tier 3

Supplier Management Best Practices

Everything you need to know about Procurement savings

Big Data Analytics: What It Is and Why It Is Important

Supplier Consolidation: What It Is, Benefits, and Risks

Horizontal vs. Vertical Integration: A Comprehensive Guide

Procurement Methods: How To Source and Evaluate The Best Suppliers To Work With

Multi-Academy Trust (MAT): What Is It and How Can Schools Benefit?

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