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How to build a successful procurement strategy

IBM Services

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.

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

SIG Speaks

The rapid advancements in AI have notably impacted various business functions, including procurement and sourcing. Businesses and organizations continue to strive to enhance efficiency, reduce costs, and gain a competitive edge, and AI technologies have begun to revolutionize the procurement landscape.

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

Planergy Software

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.

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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. Centralize purchasing to drive efficiency, streamline purchasing procedures, and minimize silos. Procurement teams can also use technology to manage purchasing more efficiently.

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

Planergy Software

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. Download a free copy of "Indirect Spend Guide", to learn: Where the best opportunities for savings are in indirect spend. Tier 1 Suppliers.

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

Planergy Software

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?