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

SIG Speaks

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. In my experience in financial services, security, and privacy laws are being regulated more every year.

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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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Thoughts on Crowd Sourcing

SIG Speaks

A decade ago, outsourcing procurement and engineering functions to a crowdsourcing organization would have seemed radically innovative, especially in regulated utilities. But the workforce has changed. The COVID pandemic made working from home the mainstream.

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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. Engage stakeholders Identify and collaborate with internal departments, suppliers and all those who may be impacted by the plan.

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Successful Governance in Procurement

SIG Speaks

The AP team would make sure that the suppliers are set up correctly and that all Government regulations are followed. . In her capacity at CoStar she ensures collaboration with the internal business partners and consolidate the global spend within the CoStar family of companies.

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

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Businesses can ensure that employees comply with internal and external regulations by centralizing the travel booking process and establishing clear procedures. How to gain visibility and control of your indirect spend.

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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. This process also helps create transparency within the supply chain so that everyone involved knows what’s going on at all times, leading to better communication and collaboration between all parties involved.