Efficiency, Marketing, Reduced Costs and Strategic Sourcing

How Strategic Procurement Can Give You a Competitive Advantage

Planergy Software

MAY 5, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How Strategic Procurement Can Give You a Competitive Advantage. Procurement Strategic Sourcing. When your process is efficient, your organization has economies of scale. Download Free Copy.

Strategic Sourcing

Strategic Sourcing Sourcing Reduced Costs Supply Chain Management

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

SIG Speaks

OCTOBER 12, 2023

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.

Sourcing

Sourcing Strategic Sourcing Outsourcing Regulations

11 Cost Reduction Strategies in Procurement

Obobo

MARCH 23, 2023

For companies looking to reduce costs, procurement is often one of the first places they look. Cost reduction during procurement processes can be accomplished through various strategies that range from the short-term to medium and long-term goals. Short-term Cost Reduction Strategies Short-term Cost Reduction Strategies: 1.

Reduced Costs

Reduced Costs Inventory Management Automation Sourcing

How to build a successful product development strategy

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. With new markets and functionalities appearing almost overnight, product development can’t be a blind process.

Engineering

Engineering Manufacturing Collaborations Research

How To Calculate Procurement Savings

Obobo

DECEMBER 17, 2021

In light of the ongoing effects of the pandemic, it is essential that businesses keep track of all cost reduction initiatives and strategic sourcing in order to survive harsh economic declines. To configure, manage, and track custom savings, procurement teams often use source-to-pay or finance software. Table of Contents.

Strategic Sourcing

Strategic Sourcing Finance Software Out-Tasking

Budgeting Process: Steps and Best Practices for Planning a Budget

Planergy Software

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Allocates Resources Efficiently Business budgeting lets you analyze your company’s financial needs and distribute resources accordingly. How to gain visibility and control of your indirect spend.

Finance

Finance Software Accounting Management

What is Procurement Cost Savings? – Definition

Obobo

JANUARY 15, 2023

What is procurement cost savings? It’s a question that has been asked by many businesses looking to make the most efficient use of their resources and maximize their profits. Procurement cost savings is the process of reducing costs associated with acquiring goods or services, without sacrificing quality.

Reduced Costs

Reduced Costs Out-Tasking Strategic Sourcing Automation

Procurement Cost Savings – Measure, report and increase cost savings

Obobo

MARCH 30, 2023

If you’re responsible for a procurement team , reducing costs is probably one of the main goals you care about. In fact, cutting costs is the primary KPI for most purchasing organizations. But what’s the best way to measure and report those cost savings ? What are the Benefits of Procurement Cost Savings?

Analytics

Analytics Reduced Costs Strategic Sourcing Software

Everything you need to know about Procurement savings

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. By adopting best practices such as spend analysis, supplier management, and e-procurement , companies can save money and increase efficiency.

Finance

Finance Strategic Sourcing Software Reduced Costs

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

Planergy Software

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. As it often proves reliable when estimating outcomes, this concept is widely used by various industries attempting to maximize their efficiency. How to gain visibility and control of your indirect spend.

Supply Chain Management

Supply Chain Management Reduced Costs Robotics Process Automation Analytics

Best Practices for Supplier Management

Obobo

AUGUST 2, 2022

Consider risk factors, diverse requirements, and the dynamic nature of your market. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. A successful supplier management program goes beyond strategic sourcing.

Management

Management Right-Sizing Supply Chain Management Strategic Sourcing

RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. RFIs can also help buyers identify potential suppliers and compare them against each other, which is crucial for strategic sourcing. How to gain visibility and control of your indirect spend. Written by.

Supply Chain Management

Supply Chain Management Strategic Sourcing Sourcing Finance

Best Practices for Supplier Management

Obobo

AUGUST 16, 2022

Consider risk factors, diverse requirements, and the dynamic nature of your market. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. A successful supplier management program goes beyond strategic sourcing.

Management

Management Right-Sizing Supply Chain Management Strategic Sourcing

Cost Avoidance in Procurement- The Ultimate Guide

Obobo

FEBRUARY 14, 2023

In order to avoid costs, procurement teams must be proactive and take actions such as negotiating better prices with suppliers, improving processes to reduce waste, and conducting market research to find cheaper alternatives. This is one of the most effective ways to reduce costs. Review your current spend.

Automation

Automation Sourcing Strategic Sourcing Analytics

Big Data Analytics: What It Is and Why It Is Important

Planergy Software

OCTOBER 4, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Another advantage of big data analytics is that it can help organizations reduce costs and improve efficiency. Market Insights. How to gain visibility and control of your indirect spend.

Analytics

Analytics Out-Tasking Right-Sizing Sourcing

Supplier Management Best Practices

Planergy Software

MARCH 24, 2022

Consider risk factors, how diverse your requirements are, and how Dynamic your Market is. Create and Maintain a Supplier Database It’s crucial to own a detailed and current supplier database as this will help in planning, reducing costs, choosing new vendors, and promoting strong supplier relationships. Download PDF.

Management

Management Insurance Supply Chain Management Right-Sizing

What are the different types of sourcing?

IBM Services

JANUARY 31, 2024

Companies generally outsource non-core tasks and functions that are similar across organizations, such as back-office operations (accounting, IT and human resources) and front-office operations (sales, marketing and customer support). This has fundamentally changed the outsourcing market.

Sourcing

Sourcing Strategic Sourcing Supply Chain Management Outsourcing

Horizontal vs. Vertical Integration: A Comprehensive Guide

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This approach allows businesses to grow their market power, diversify their product offerings, and achieve economies of scale. How to gain visibility and control of your indirect spend.

Manufacturing

Manufacturing E-Commerce Human Resources Marketing

Supplier Consolidation: What It Is, Benefits, and Risks

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. Vendor consolidation provides several benefits, including: Reduced Costs through Economies of Scale.

Strategic Sourcing

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management

What is RFX In Procurement? Understanding RFP’s, RFQ’s & RFI’s

Obobo

JUNE 15, 2022

By saving time and money, these software systems help companies be more efficient. How will using eSourcing , as well as eRFx ultimately help business owners make more informed decisions when it comes to their strategic sourcing initiatives? What is RFI (Request For Information)?

Strategic Sourcing

Strategic Sourcing Sourcing Software Streamline Operations

CFO Challenges and Priorities in 2021 And Beyond

Planergy Software

SEPTEMBER 24, 2021

They focused the lion’s share of their time and skill set on dealing with regulatory issues, guiding their teams in cutting costs, managing cash flow, and enforcing budgeting initiatives, and then reporting the results. They don’t just lead the finance team or spearhead initiatives to reduce costs.

Finance

Finance Collaborations Flexibility Robotics Process Automation

Procurement Methods: How To Source and Evaluate The Best Suppliers To Work With

Planergy Software

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Open tendering is preferable as it allows companies to apply for multiple contracts at once, resulting in more efficient use of resources and reduced cost-over-runs from multiple procurement processes.

Sourcing

Sourcing Strategic Sourcing Finance Automation

Global Sourcing Brief

How Strategic Procurement Can Give You a Competitive Advantage

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

Trending Sources

11 Cost Reduction Strategies in Procurement

How to build a successful product development strategy

How To Calculate Procurement Savings

Budgeting Process: Steps and Best Practices for Planning a Budget

What is Procurement Cost Savings? – Definition

Procurement Cost Savings – Measure, report and increase cost savings

Everything you need to know about Procurement savings

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

Best Practices for Supplier Management

RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

Best Practices for Supplier Management

Cost Avoidance in Procurement- The Ultimate Guide

Big Data Analytics: What It Is and Why It Is Important

Supplier Management Best Practices

What are the different types of sourcing?

Horizontal vs. Vertical Integration: A Comprehensive Guide

Supplier Consolidation: What It Is, Benefits, and Risks

What is RFX In Procurement? Understanding RFP’s, RFQ’s & RFI’s

CFO Challenges and Priorities in 2021 And Beyond

Procurement Methods: How To Source and Evaluate The Best Suppliers To Work With

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