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.

Strategic Sourcing 84

Strategic Sourcing Sourcing Supply Chain Management Inventory Management 84

IBM Services

FEBRUARY 19, 2024

Here’s how companies are using different strategies to address supply chain management and meet their business goals. Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics.

Supply Chain Management 86

Supply Chain Management Management Inventory Management Analytics 86

Obobo

MARCH 23, 2023

Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Overall, these 11 cost reduction strategies in procurement demonstrate that companies can significantly reduce costs and maintain profitability with the right procurement management practices.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52

Planergy Software

SEPTEMBER 10, 2021

Procurement is the act of buying raw materials, goods, and services for a business, as guided by formalized procedures, internal controls, and processes related to not just finance, but inventory management, supply chain management, and supplier relationship management as well. Automating core procurement processes.

Inventory Management 59

Inventory Management Supply Chain Management Data Entry Labor Costs 59

Obobo

JANUARY 13, 2023

This software can help organizations keep track of their procurement projects, as well as manage and monitor the progress of these projects. Additionally, procurement project management software can also help organizations to automate their procurement processes. The different types of procurement project management software.

Software 40

Software Management Out-Tasking Inventory Management 40

Planergy Software

JUNE 21, 2022

How better management in AP can give you better flexibility for cash flow management. Cash Flow Governance Risk Management & Compliance (GRC). Low Inventory Turnover Rates Calculate your inventory turnover rate by finding the ratio of sales to the inventory available at the end of the same period.

Sales 52

Sales Finance Accounting Risk Management 52

Planergy Software

JANUARY 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Sourcing Supply Chain Management. Local sourcing means that your raw materials come from other local businesses, which keeps the economy in good shape. Download Free Copy. The Benefits of Localized Supply Chain.

Supply Chain Management 52

Supply Chain Management Manufacturing Sourcing Retail 52