Collaborations, Efficiency, Meeting and Strategic Sourcing

What Is Strategic Sourcing? – Definition

Obobo

AUGUST 25, 2022

What Is Strategic Sourcing? In the context of digital transformation, procurement and supply chain processes are evolving as a result of strategic sourcing, and the trend is poised to continue. This is what differentiates strategic sourcing from conventional purchasing. . How Does Strategic Sourcing Work?

Strategic Sourcing

Strategic Sourcing Sourcing Supply Chain Management Right-Sizing

What Is Strategic Sourcing? – Definition

Obobo

AUGUST 24, 2022

What Is Strategic Sourcing? In the context of digital transformation, procurement and supply chain processes are evolving as a result of strategic sourcing, and the trend is poised to continue. This is what differentiates strategic sourcing from conventional purchasing. . How Does Strategic Sourcing Work?

Strategic Sourcing

Strategic Sourcing Sourcing Supply Chain Management Right-Sizing

Driving Success through Effective Procurement and Category Management Organization | Webinar

Everest Group

JULY 18, 2023

As you know firsthand, an effective one is needed to meet your stakeholders’ expectations in today’s uncertain economic environment. How do organizations enable effective collaboration between category managers, suppliers, and business stakeholders? How is resource management conducted in best-in-class procurement organizations?

Management

Management Strategic Sourcing Outsourcing Government

How to build a successful procurement strategy

IBM Services

DECEMBER 13, 2023

A procurement strategy allows an organization to navigate an increasingly complex global supply chain, adapt swiftly to market fluctuations, and achieve cost optimization, operational efficiency and growth. This enables an effective and adaptive approach to sourcing that creates value and minimizes risk.

Administrative

Administrative Sourcing Collaborations Strategic Sourcing

Category Management Playbook and Category Strategy Planning

SIG Speaks

OCTOBER 26, 2023

SIG University Certified Sourcing Professional (CSP) program graduate Prateek Jindal describes how the course helped him and his team increase value from improving their strategic sourcing strategies on down through your category playbook. Supplier Performance Management (SPM): The course (a reference to lesson 2.4)

Management

Management Strategic Sourcing Facilities Management Sourcing

Assessing Business Models

SIG Speaks

AUGUST 31, 2023

This essential function is a part of every business, and a company must develop sound business models that ensure the process is efficient and effective. Several factors determine whether a business model is efficient and effective. Collaboration is a critical aspect of supplier relations.

Collaborations

Collaborations Strategic Sourcing Sourcing Efficiency

How to build a successful product development strategy

IBM Services

JANUARY 16, 2024

A finely tuned product development strategy is a holistic, cross-collaborative endeavor with the capacity to help any organization weather unforeseen events or market changes. During this phase, cross-collaborative efforts should focus on ideation and iteration. Why is a strong product development strategy important?

Engineering

Engineering Manufacturing Collaborations Research

Recap of CPO & Executive Virtual Series with ProcureAbility

SIG Speaks

DECEMBER 13, 2022

As Conrad noted, future procurement organizations will be a smaller, more desegregated and more efficient teams. ProcureAbility predicts that by 2030, strategic sourcing will take no longer than two weeks, thanks to cognitive computing. Also, expanding third-party screening to ensure vendors are meeting KPIs.

Cybersecurity

Cybersecurity Strategic Sourcing Sourcing Administrative

The Rediscovery of Keiretsu: Vertically Integrated Partnerships with Your Supply Base

Future of Sourcing

MARCH 21, 2023

Now as uncertainty is once again upon us, strategic sourcing teams and suppliers are on opposite sides, it has eroded the concept of having suppliers as your true “partners” and rendered the sourcing function as a more tactical operation. Share your strategy. Will you be there?

Reduced Overhead

Reduced Overhead Strategic Sourcing Collaborations Government

Implementing Category Management Strategies

SIG Speaks

JULY 14, 2023

The idea is that tactical items require a lower management level, while strategic activities are meant to build collaborations and drive constant improvement and value across the category. The business can realize efficiencies in every aspect of goods and service deliverables using a data-driven and tactical approach.

Management

Management Strategic Sourcing Sourcing Design

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. Efficiency Streamlining the travel booking process saves time and resources for both employees and the company.

Finance

Finance Reduced Costs Management Risk Management

Vendor Analysis: What Is It, Process, Types, and Best Practices

Planergy Software

JANUARY 19, 2024

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. Efficiency: Evaluate how efficiently the vendor can deliver their products or services. What's Planergy?

Risk Management

Risk Management Risk Management Supply Chain Management Sourcing

Procurement Cost Savings – Measure, report and increase cost savings

Obobo

MARCH 30, 2023

Evaluate Supplier Performance: Evaluate supplier performance to ensure that contracts are optimized and suppliers are meeting or exceeding KPIs. key Takeaway: Successful procurement cost savings is a comprehensive process that requires strategic planning and execution. This can help you reduce errors and improve efficiency.

Analytics

Analytics Reduced Costs Strategic Sourcing Software

11 Cost Reduction Strategies in Procurement

Obobo

MARCH 23, 2023

Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Centralize purchasing to drive efficiency, streamline purchasing procedures, and minimize silos. Here are some of the top strategies that can help: 1.

Reduced Costs

Reduced Costs Inventory Management Automation Sourcing

Strategic Budgeting: What Is It, Process, and Best Practices

Planergy Software

SEPTEMBER 6, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This method encourages efficiency and reduces unnecessary spending by forcing organizations to evaluate each expenditure and its contribution to its goals carefully. How to gain visibility and control of your indirect spend.

Right-Sizing

Right-Sizing Finance Collaborations Accounting

What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay

Obobo

JULY 1, 2022

An S2P is a sourcing and procurement process in which suppliers are sought out, negotiated with, signed up for, and eventually paid for their products or services. S2P software enables individuals and organizations to create a more efficient procurement process. . This in turn results in the payment of those products or services.

Sourcing

Sourcing Accounting Software Automation

The Future of FP&A: How The Role Is Evolving With The Use Of Real-Time Data

Planergy Software

DECEMBER 25, 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. No more tedious data collection and processing – just pure, high-quality insights and strategic recommendations.

Finance

Finance Software Automation Analytics

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. You’ll likely send additional requests if you find the vendor may be able to meet your organization’s needs. They allow suppliers to understand the buyer’s requirements and submit a proposal that meets them.

Supply Chain Management

Supply Chain Management Strategic Sourcing Sourcing Finance

Everything you need to know about Procurement savings

Obobo

MARCH 21, 2023

Procurement savings refer to the cost reductions that are achieved by a company when it purchases goods and services through a strategic sourcing process. By adopting best practices such as spend analysis, supplier management, and e-procurement , companies can save money and increase efficiency.

Finance

Finance Strategic Sourcing Software Reduced Costs

Best Practices for Supplier Management

Obobo

AUGUST 2, 2022

SLAs and SOWs specify the thresholds your suppliers must meet. Ensure that your contract includes information-sharing expectations so that you and your suppliers can work collaboratively. By utilising technology and automation in your procurement, you can improve efficiency and save money while minimising communication problems.

Management

Management Right-Sizing Supply Chain Management Strategic Sourcing

Best Practices for Supplier Management

Obobo

AUGUST 16, 2022

SLAs and SOWs specify the thresholds your suppliers must meet. Ensure that your contract includes information-sharing expectations so that you and your suppliers can work collaboratively. By utilising technology and automation in your procurement, you can improve efficiency and save money while minimising communication problems.

Management

Management Right-Sizing Supply Chain Management Strategic Sourcing

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. You can manage suppliers by breaking them down into different tiers more efficiently. Suppliers must have robust security protocols that meet industry standards for companies to feel safe working with them digitally.

Supply Chain Management

Supply Chain Management Regulations Manufacturing Finance

Supplier Management Best Practices

Planergy Software

MARCH 24, 2022

SOWs and SLAs document established the thresholds your vendors are required to meet. Your contract should also include information-sharing expectations so that you can effectively work collaboratively with your vendors. As you work to build the right supplier management system for your business, consider these best practices.

Management

Management Insurance Supply Chain Management Right-Sizing

7 Tips For Managing Project Budgets Successfully

Planergy Software

OCTOBER 25, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. You can avoid misunderstandings and resolve conflicts quickly and efficiently by keeping detailed records. Often, meeting both of these objectives can seem like an impossible feat. Download Free Copy. Written by.

Management

Management Out-Tasking Finance Software

Discretionary Expenses: What Are They, Examples, and How To Control Them In Business

Planergy Software

SEPTEMBER 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Fuel costs are essential for vehicle operation and depend on fuel efficiency and driving habits. These expenses can help build relationships, foster collaboration, and expand your business network.

Finance

Finance Insurance Software Management

Travel and Expense Policy: What Is It, Example Template, and Best Practices

Planergy Software

FEBRUARY 9, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It’s efficient and cost-effective to have a predetermined budget for each employee that adheres to the company’s financial regulations – this ensures employee reimbursements are issued following company standards.

Finance

Finance Regulations Insurance Management

CFO Challenges and Priorities in 2021 And Beyond

Planergy Software

SEPTEMBER 24, 2021

Securing competitive advantage means mastering emerging technologies and developing strategies that incorporate risk management, data-driven decision making, and a collaborative, agile approach. Taking a collaborative approach to supplier relationship management can help improve cash flow.

Finance

Finance Collaborations Flexibility Robotics Process Automation

Services Procurement: What Is It and How To Manage It

Planergy Software

JULY 21, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Goods can generally be bought off the shelf, but most service procurements require custom contracts to meet specific requirements. How to gain visibility and control of your indirect spend.

Management

Management Service Strategic 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. Vertical Integration: By taking control of different stages of the production or distribution process, businesses can gain supply chain control, reduce costs, increase efficiency, and differentiate their products and services.

Manufacturing

Manufacturing E-Commerce Human Resources Marketing

How Best-in-Class Procurement Teams Conduct Sourcing During a Crisis

Future of Sourcing

MAY 9, 2023

Conducting Sourcing During a Crisis Following strategies are adopted by best-in-class procurement teams that help them navigate through the uncertainties faced during a calamity: 1. Investing in Collaborative Sourcing Every procurement expert stresses the importance of collaboration.

Sourcing

Sourcing Collaborations Analytics Strategic 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. As these suppliers lose their autonomy, they may also experience a decrease in efficiency and productivity. Download Free Copy.

Strategic Sourcing

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management

Supply Chain Decisions: Skills and Best Practices

Planergy Software

APRIL 5, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Strategic The strategic level is the top level of supply chain management. It’s not just efficient and effective decision-making that matters. How to gain visibility and control of your indirect spend.

Supply Chain Management

Supply Chain Management Manufacturing Sourcing Management

Global Sourcing Brief

What Is Strategic Sourcing? – Definition

What Is Strategic Sourcing? – Definition

Trending Sources

Driving Success through Effective Procurement and Category Management Organization | Webinar

How to build a successful procurement strategy

Category Management Playbook and Category Strategy Planning

Assessing Business Models

How to build a successful product development strategy

Recap of CPO & Executive Virtual Series with ProcureAbility

The Rediscovery of Keiretsu: Vertically Integrated Partnerships with Your Supply Base

Implementing Category Management Strategies

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

Vendor Analysis: What Is It, Process, Types, and Best Practices

Procurement Cost Savings – Measure, report and increase cost savings

11 Cost Reduction Strategies in Procurement

Strategic Budgeting: What Is It, Process, and Best Practices

What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay

The Future of FP&A: How The Role Is Evolving With The Use Of Real-Time Data

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

Everything you need to know about Procurement savings

Best Practices for Supplier Management

Best Practices for Supplier Management

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

Supplier Management Best Practices

7 Tips For Managing Project Budgets Successfully

Discretionary Expenses: What Are They, Examples, and How To Control Them In Business

Travel and Expense Policy: What Is It, Example Template, and Best Practices

CFO Challenges and Priorities in 2021 And Beyond

Services Procurement: What Is It and How To Manage It

Horizontal vs. Vertical Integration: A Comprehensive Guide

How Best-in-Class Procurement Teams Conduct Sourcing During a Crisis

Supplier Consolidation: What It Is, Benefits, and Risks

Supply Chain Decisions: Skills and Best Practices

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