SIG Speaks

APRIL 25, 2023

To gain efficiencies, reduce costs and ensure long-term viability, the company executives wanted to consolidate the company as one. The company's prior organizational structure was that each facility was its entity with its procurement, human resources, quality, and manufacturing departments excreta.

Sourcing 40

Sourcing Management Co-Sourcing Strategic Sourcing 40

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 52

Strategic Sourcing Finance Software Out-Tasking 52

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 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

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 45

Finance Strategic Sourcing Software Reduced Costs 45

IBM Services

JANUARY 16, 2024

Successful companies fuse product development practices with overarching business strategies to ensure sustainable innovations that will resonate efficiently and sustainably with customers—both in existing markets and among new target audiences.

Engineering 83

Engineering Manufacturing Collaborations Research 83

SIG Speaks

SEPTEMBER 14, 2023

Once an area with high costs is identified, I can work on finding ways to optimize processes and reduce costs. While it can be difficult to effect change in a large organization, the likelihood of adaptation is higher if management is provided with a cost model.

Supply Chain Management 40

Supply Chain Management Sourcing Strategic Sourcing Risk Management 40

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 40

Analytics Reduced Costs Strategic Sourcing Software 40

Planergy Software

OCTOBER 18, 2023

Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This reduces the risk of non-compliance penalties and enhances the overall company reputation.

Finance 52

Finance Reduced Costs Management Risk Management 52

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 52

Supply Chain Management Reduced Costs Robotics Process Automation Analytics 52

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. By developing a PSP, an organization can streamline its procurement process, reduce costs, and improve quality and service levels. Communication is often improved, reducing costly misunderstandings.

Reduced Costs 52

Reduced Costs Finance Accounting Strategic Sourcing 52

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 92

Finance Software Accounting Management 92

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 52

Supply Chain Management Strategic Sourcing Sourcing Finance 52

Obobo

AUGUST 2, 2022

Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. By utilising technology and automation in your procurement, you can improve efficiency and save money while minimising communication problems. Maintain a Supplier Database.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Time and Cost Efficiency Employees may better understand their travel requirements and preferences, which can result in quicker decision-making and efficient bookings.

Management 52

Management Right-Sizing Software Finance 52

Obobo

AUGUST 16, 2022

Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. By utilising technology and automation in your procurement, you can improve efficiency and save money while minimising communication problems. Maintain a Supplier Database.

Management 52

Management Right-Sizing Supply Chain Management Strategic Sourcing 52

Planergy Software

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. You can manage suppliers by breaking them down into different tiers more efficiently. Supplier tiering also helps reduce costs by eliminating inefficient or unnecessary processes in the supply chain.

Supply Chain Management 52

Supply Chain Management Regulations Manufacturing Finance 52

Obobo

FEBRUARY 14, 2023

This is one of the most effective ways to reduce costs. Automation can help you reduce errors and speed up processes , leading to cost savings. Sourcing from low-cost countries: Another way to avoid costs is to source goods and services from countries where labor and materials are relatively inexpensive.

Automation 52

Automation Strategic Sourcing Sourcing Analytics 52

Planergy Software

MARCH 24, 2022

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. It also involves risk management, supplier relationship management (SRM), and contract management. Download PDF.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

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. How to gain visibility and control of your indirect spend. Download Free Copy.

Analytics 52

Analytics Out-Tasking Right-Sizing Sourcing 52

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. Strategic sourcing methods : ethical, responsible and sustainable sourcing There are many types of sourcing strategies.

Sourcing 102

Sourcing Strategic Sourcing Supply Chain Management Outsourcing 102

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 52

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management 52

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 52

Strategic Sourcing Sourcing Software Streamline Operations 52

Planergy Software

MARCH 29, 2022

This step can make or break an organization’s ability to understand its data better and leverage it to maximize profitability, reduce cost, and create value for shareholders. Translate information into insights The final step is to derive the required information to make better strategic decisions and generate more value from data.

Analytics 52

Analytics Accounting Finance Strategic Sourcing 52

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This streamlined approach can lead to lower operating costs, increased profit margins, and more competitive customer pricing. How to gain visibility and control of your indirect spend.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52

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 52

Sourcing Strategic Sourcing Finance Automation 52

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 97

Finance Collaborations Flexibility Robotics Process Automation 97

Planergy Software

DECEMBER 11, 2023

Helping organizations spend smarter and more efficiently by automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This will ensure the best business efficiency and value for money is realised by the trust.

Government 52

Government Collaborations Finance Accounting 52