Remove Automation Remove Research Remove Sourcing Remove Strategic Sourcing
article thumbnail

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.

article thumbnail

3 Strategic Sourcing Steps and How Nearshoring to Mexico Plays a Part

Ivemsa

Sourcing quality suppliers is essential to a production’s efficiency and overall success. Implementing strategic sourcing is a way to add long-term value and continually optimize manufacturing processes. Implementing strategic sourcing is a way to add long-term value and continually optimize manufacturing processes.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Recap of CPO & Executive Virtual Series with ProcureAbility

SIG Speaks

Conrad, CEO at ProcureAbility, opened the day by explaining the team's research methodology. This process consists of a team of experts who hypothesize on emerging trends and then conduct in-depth research to validate that analysis. Also, they predict that over 90% of sourcing will be done by either contractors or automation.

article thumbnail

This Month at SIG – December 2022

SIG Speaks

How to Source Smartly in Times of Inflation. Join Coupa Software experts Ayush Sharma and Dr. Jeffery Collins on the challenges of sourcing in the current inflationary environment—and what's coming in 2023! Sourcing Industry Landscape Podcast. Join us for this collaborative and very personal conversation! register now. . .

article thumbnail

This Month at SIG – July 2022

SIG Speaks

Join experts from Workday Strategic Sourcing as they outline how to enable an efficient and collaborative approach to procurement, take control of your spend, simplify contract management, and improve relationships with suppliers. Sourcing Industry Landscape Podcast. register to attend. . . download the report. . Listen now.

article thumbnail

How Procurement Has Bridged The Gap With Finance

SIG Speaks

Additional insights from an excerpt of the research paper referenced in the same news report also indicate that: On average, only 46% of CFOs feel that the procurement team has contributed to enterprise growth. For example, an automated spend analysis capability will create real value in several key areas. Orchestrating Success.

Finance 40
article thumbnail

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. However, it requires preparation and skill to achieve the best possible outcome.