SIG Speaks

OCTOBER 12, 2023

This can lead to more informed decision-making from business executives. An article by Forbes titled “Smart Sourcing: AI Can Amplify CPO-Led Human Intelligence” noted the idea of ‘Smart Sourcing’ which starts with tackling a huge volume of relevant data associated with every individual purchase.

Sourcing 40

Sourcing Strategic Sourcing Outsourcing Regulations 40

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. Consumers have access to more information than ever to compare products and brands. Why is a strong product development strategy important?

Engineering 80

Engineering Manufacturing Collaborations Research 80

IBM Services

DECEMBER 13, 2023

It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. Engage stakeholders Identify and collaborate with internal departments, suppliers and all those who may be impacted by the plan.

Administrative 70

Administrative Sourcing Collaborations Strategic Sourcing 70

Obobo

JUNE 15, 2022

The ability to obtain standardised information from suppliers has been and continues to be a challenge. It is difficult for procurement departments to compare quotes or due-diligence information received from suppliers in different formats, as they are offered in different formats; hunting the information down can take a lot of time.

Strategic Sourcing 52

Strategic Sourcing Sourcing Software Streamline Operations 52

SIG Speaks

OCTOBER 19, 2023

By presenting clearly and concisely, procurement professionals can foster transparency and accountability, enabling executives to make informed decisions based on a thorough understanding of the procurement function's contributions. One of the primary objectives of procurement is to achieve cost savings while maintaining quality and efficiency.

Strategic Sourcing 40

Strategic Sourcing Sourcing Manufacturing Risk Management 40

SIG Speaks

JANUARY 13, 2023

Sourcing will succeed if it has executive leadership support, collaboration with stakeholders, robust control of spending and policies, automation, and an approach clearly defined for categories. Sourcing involves four significant steps Assess , Analyze , Execute and Evaluate. . learn more. .

Sourcing 40

Sourcing Strategic Sourcing Impact Sourcing Government 40

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.

Reduced Overhead 64

Reduced Overhead Strategic Sourcing Collaborations Government 64

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 52

Sourcing Collaborations Analytics Strategic Sourcing 52

Planergy Software

DECEMBER 25, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This process involves analyzing historical data, understanding market trends, and making informed assumptions about future performance. This shift promises faster, better-informed decision-making.

Finance 52

Finance Software Automation Analytics 52

Planergy Software

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. If you’ve been in business for a while, you can use information from the prior year to help you set up the budget. How to gain visibility and control of your indirect spend.

Finance 92

Finance Software Accounting Management 92

Planergy Software

SEPTEMBER 6, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This type of budgeting can be complex and require significant data analysis, making it more suitable for organizations with well-defined processes and the ability to gather detailed cost information.

Right-Sizing 52

Right-Sizing Finance Collaborations Accounting 52

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. This information will be crucial as you develop your strategy for managing supplier consolidation. Download Free Copy. Written by.

Strategic Sourcing 52

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management 52

Planergy Software

DECEMBER 11, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The schools within a MAT often share common values and ethos, fostering a collaborative environment to improve educational outcomes for all students within the trust. How to gain visibility and control of your indirect spend.

Government 52

Government Collaborations Finance Accounting 52

SIG Speaks

APRIL 14, 2022

The paper then goes on to say that “the teams that should collaborate most directly are those focused on strategic sourcing and procure-to-pay.” The author then adds that "a successful source-to-settle workflow must look at the entire ecosystem that connects sourcing and procurement to accounts payable and treasury.".

Finance 40

Finance Co-Sourcing Sourcing Strategic Sourcing 40

SIG Speaks

SEPTEMBER 27, 2022

We do it through commodity management, supplier and business collaboration, mitigating corporate risk, and managing change in the goods and services we collect. The key is collaboration and honest communication. Open that communication channel with the company, provide project updates throughout the cycle, and keep people informed.

Co-Sourcing 40

Co-Sourcing Administrative Extended Teams Strategic Sourcing 40

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. RFI: Request for Information. An RFI is issued when a procuring organization wants more general information about a potential vendor or solution. How to gain visibility and control of your indirect spend. Written by.

Supply Chain Management 52

Supply Chain Management Strategic Sourcing Sourcing Finance 52

SIG Speaks

MAY 9, 2023

We will look into the nature of outsourcing projects in terms of relations management, the advantages/ disadvantages of outsourcing, and best practices for collaboration. Confidentiality can also play a significant role where business secrets, personally identifiable information, etc., are involved.

Outsourcing 40

Outsourcing Offshoring Sourcing Collaborations 40

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Your policy should include information such as: Requirements for pre-trip approval and notifications Per diem guidelines, including rules about meals, snacks, and entertainment expenses Rules around lodging and transportation (e.g.,

Finance 52

Finance Reduced Costs Management Risk Management 52

SIG Speaks

JULY 1, 2022

In other words, in the world of procurement and strategic sourcing, the importance of resilient supply chains has been a point of discussion for some time. In conjunction with Coupa, the Sourcing Industry Group (SIG) conducted a seminal survey to gain critical insight into the unprecedented events impacting our supply chains.

Supply Chain Management 40

Supply Chain Management Strategic Sourcing Engineering Sourcing 40

SIG Speaks

DECEMBER 6, 2022

In the section titled, “Looking at the management of transformation through Governance support and resources,” I found that the information was spot on, especially with cross-functional teams to make up the committees; however, I do want to note that every organization might have a different approach because of their structure.

Government 40

Government Retail Banking Strategic Sourcing 40

Everest Group

SEPTEMBER 21, 2021

Create actionable insights to solve client problems by evaluating and analyzing information collected through live engagements, interviews, and secondary research (as needed). Collaborate with analysts across the company to deliver on projects for clients. Collaborative work style; strong interpersonal and team skills.

Global Sourcing Advisory 40

Global Sourcing Advisory BPO Advisory Strategic Sourcing 40

Planergy Software

FEBRUARY 8, 2022

Strategic Sourcing Supplier Performance Supplier Relationship Management. Why is developing collaborative relationships with your most strategic suppliers crucial to your success? How better management in AP can give you better flexibility for cash flow management. Download Free Copy. Written by. Rob Biedron. 14 min read.

Strategic Sourcing 52

Strategic Sourcing Supply Chain Management Collaborations Finance 52

SIG Speaks

MAY 10, 2022

The Certified Sourcing Professional (CSP) Program is a 10-week course that focuses on the hard and soft skills of sourcing, including strategic sourcing and outsourcing methodologies, as well as best practices in negotiations. the world leader in commercial real estate information. learn more. .

Management 40

Management Third Party Contracting Strategic Sourcing Human Resources 40

Everest Group

MAY 27, 2022

Best-in-class organizations take far less time for the same activities in IT strategic sourcing initiatives, completing the process in nine to 10 weeks, according to our IT Sourcing Pinnacle Model Assessment. Other more informal approaches may leave procurement teams open to allegations that a “proper” process was not completed.

Outsourcing 52

Outsourcing Sourcing Strategic Sourcing Flexibility 52

Everest Group

SEPTEMBER 21, 2021

The candidate must be able to analyse, write, participate actively in the sales cycle with our commercial teams and present in front of large and small audiences, work with senior executives, develop research agendas, and work with clients solving strategic issues around technology sourcing. Key responsibilities.

Global Sourcing Advisory 40

Global Sourcing Advisory Research Advisory Strategic Sourcing 40

Obobo

AUGUST 2, 2022

The management needs to approve the policy that outlines how you will keep stakeholders informed. In addition to your supplier policy, you should also establish your risk assessment principles, including financial, legal, and information security risks. As part of the agreement, you must share information and priorities.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Planergy Software

JULY 21, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Whether you work with a small business or enterprise-level partner, strategic sourcing is key because you want to keep stakeholders happy. How to gain visibility and control of your indirect spend.

Management 52

Management Service Strategic Sourcing Supply Chain Management 52

Obobo

JULY 1, 2022

Sourcing It is at this point in the process that suppliers are evaluated on their abilities to provide the goods or services requested and invited to participate in the bidding exercise. Evaluation of suppliers is usually done via a Request For information (RFI) process. The post What Is Source-To-Pay (S2P)?

Sourcing 52

Sourcing Accounting Software Automation 52

Obobo

AUGUST 16, 2022

The management needs to approve the policy that outlines how you will keep stakeholders informed. In addition to your supplier policy, you should also establish your risk assessment principles, including financial, legal, and information security risks. As part of the agreement, you must share information and priorities.

Management 52

Management Right-Sizing Supply Chain Management Strategic Sourcing 52

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. key Takeaway: Procurement savings are the cost reductions achieved by a company when purchasing goods and services through strategic sourcing. What is Procurement?

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Planergy Software

DECEMBER 29, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Best Practices for Your Marketing Procurement Process and Strategic Sourcing. Technology can help you automate tasks and keep track of information more easily. Download Free Copy. Written by.

Marketing 52

Marketing Strategic Sourcing Out-Tasking Sourcing 52

Obobo

MARCH 30, 2023

By the end, you’ll have all the information you need to start measuring and reporting your own cost savings with confidence. Use Data to Inform Future Purchases: By analyzing data, you can see trends that make forecasting future buying patterns more accurate. Table Of Content. Remember, every penny counts in procurement cost savings.

Analytics 40

Analytics Reduced Costs Strategic Sourcing Software 40

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Strategic Considerations: Understanding and selecting the right integration strategy can significantly impact a company’s growth and success. How to gain visibility and control of your indirect spend.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52

Obobo

MARCH 23, 2023

Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Implement strategic sourcing by establishing a long-term plan that balances costs, risks, and benefits. – Use predictive analytics to forecast future demand and price trends.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52

Planergy Software

JANUARY 19, 2024

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It typically includes information about the supplier’s strengths and weaknesses, potential risks, and opportunities for improvement. How to gain visibility and control of your indirect spend.

Risk Management 52

Risk Management Risk Management Supply Chain Management Sourcing 52

Obobo

JANUARY 15, 2023

Organizations can realize significant procurement cost savings by taking advantage of economies of scale, using strategic sourcing to find lower-cost suppliers, and leveraging their buying power to negotiate better prices. One way to achieve procurement cost savings is to streamline the procurement process itself.

Reduced Costs 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

Planergy Software

MARCH 24, 2022

Management needs to improve approve the policy which outlines how you will keep stakeholders informed. Your vendor policy should also help to establish your risk assessment principles including Financial, legal, and information security risk. You need to share information and priority as part of the agreement.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52