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4 strategic sourcing use cases to strengthen your supply chain

IBM Services

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.

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

SIG Speaks

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.

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2023 FOSA Finalists

Future of Sourcing

Innovations in Sustainability Dräeger – Using Smart Processes to Create Resilient Supply Chains SAP / DSM - Firmenich – How Royal DSM and SAP Digitalized Global Procurement Processes for Strategic Source-to-Pay Capabilities and Sustainability Safety Projects International, Inc.

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How to build a successful procurement strategy

IBM Services

It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. It should be a strategic roadmap that, when effectively designed and implemented, aligns with the mission of the organization and greatly contributes to its success.

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Expense Reporting: What Is It, Templates, and How To Fill A Report

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Software can help automate and streamline your processes. Compliance With Internal Controls Expense reports can help you ensure compliance with internal policies and external regulations. What Is Expense Reporting?

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Expense Reimbursement: What Is It, How To Manage, and What Should You Cover

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Use Automation Expense management automation tools can save time and eliminate tedious tasks such as manually entering data into spreadsheets or sending emails requesting receipts.

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11 Cost Reduction Strategies in Procurement

Obobo

Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Leverage technology solutions to automate procurement procedures , improve compliance, and reduce costs. Procurement teams can also use technology to manage purchasing more efficiently.