Remove Efficiency Remove Reduced Costs Remove Risk Management Remove Sourcing
article thumbnail

11 Cost Reduction Strategies in Procurement

Obobo

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.

article thumbnail

RPO vs. In-House Recruitment: Why Outsourcing is Winning the Battle

NoonDalton

As businesses seek to streamline operations, reduce costs, and tap into specialized talent pools, RPO is increasingly becoming their go-to solution. Candidate Sourcing: Utilizing multiple channels to find candidates who fit the role’s requirements and the company culture. But why is this?

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Strategic Procurement Can Give You a Competitive Advantage

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Procurement Strategic Sourcing. With an effective and efficient procurement process, you can quickly deliver cannibal cost Improvement while enhancing supply chain agility. Download Free Copy.

article thumbnail

Maximizing the Potential for Cost-Savings and Risk

SIG Speaks

SIG University Certified Sourcing Professional (CSP) program graduate Heather Frazer discusses how TCO is a great tool that will help capture the entire potential for cost savings and risk and how it is increasingly important for procurement organizations to secure reliable data. I have been with BCBST for four years.

article thumbnail

Transformation Imperatives for Wholesalers and MGAs in Insurance: Exploring Opportunities to Unlock the Next Growth Phase | Blog

Everest Group

Technology and business process services (BPS) providers can help MGSs reduce costs and increase their digitization and automation intensity. According to a McKinsey report, 43% of top 100 Property and Casualty (P&C) insurers have at least one MGA relationship to source new premiums. Read on to learn more.

article thumbnail

The Ultimate Guide To Successful Supplier Lifecycle Management

Obobo

What Is Supplier Lifecycle Management? Managing external suppliers in an organized and transparent manner is referred to as supplier lifecycle management. In order to improve the efficiency of your supply chain, third-party suppliers play an important role. Supplier Risk Management. Supplier Development.

article thumbnail

The Ultimate Guide To Successful Supplier Lifecycle Management

Obobo

What Is Supplier Lifecycle Management? Managing external suppliers in an organized and transparent manner is referred to as supplier lifecycle management. In order to improve the efficiency of your supply chain, third-party suppliers play an important role. Supplier Risk Management. Supplier Development.