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Procurement Costs and How Businesses Can Reduce Them

Planergy Software

By understanding how procurement costs are created and the tools and process improvements you can use to reduce them, you can: bolster your company’s bottom line; strengthen your inventory and supply chain management; and build strong supplier relationships, too. Procurement Costs: An Overview.

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Pareto Analysis in Procurement: How To Use Spend Analysis To Cut Costs

Planergy Software

As it often proves reliable when estimating outcomes, this concept is widely used by various industries attempting to maximize their efficiency. Pareto Spend Analysis is an incredibly useful tool for optimizing supply chain management processes, reducing costs, and improving overall efficiency.

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10 manufacturing trends that are changing the industry

IBM Business Partners

Machine learning algorithms, for instance, can be trained to identify patterns in the data and manage decision-making based on those patterns, allowing manufacturers to catch quality issues early in the production process. How can you harness the power of AI to operationalize sustainability?