Efficiency Labor Costs Offshoring Strategic Sourcing 
IBM Services
JANUARY 31, 2024
Businesses now look beyond offshore outsourcing and labor arbitrage, instead leveraging artificial intelligence (AI) and automation to create efficiencies and modernize processes. Near-sourcing Near-sourcing, also called nearshoring, involves moving sourcing activities closer to where goods or services are sold.
Obobo
MARCH 23, 2023
In the medium term, cost reduction strategies can lead to larger savings, including effective contract negotiation , consolidation of suppliers or products, and streamlining of procurement processes. Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing.
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