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11 Cost Reduction Strategies in Procurement

Obobo

Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Overall, these 11 cost reduction strategies in procurement demonstrate that companies can significantly reduce costs and maintain profitability with the right procurement management practices.

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The Benefits of Localized Supply Chain

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Much of the brand’s failure in the Canadian market is due to poor inventory management. To be successful, you must be flexible and adaptable. Download Free Copy. Written by. Keith Murphy.

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Catalog Management in Procurement: What Is It, Types of Catalogs, Challenges and Best Practices To Manage Them

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. For example, does it connect to your ERP, e-commerce platform, and inventory management system? Connecting your inventory management system allows it to update quantity information based on sales.

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CFO Challenges and Priorities in 2021 And Beyond

Planergy Software

In a business climate radically altered by both digital transformation and major disruptors such as the COVID-19 novel coronavirus pandemic, companies who want to compete, grow, and innovate effectively need both flexibility and resilience. For inventory in particular, the situation is very similar to cash. The result?

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Horizontal vs. Vertical Integration: A Comprehensive Guide

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Strategic Considerations: Understanding and selecting the right integration strategy can significantly impact a company’s growth and success. How to gain visibility and control of your indirect spend.

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Supply Chain Decisions: Skills and Best Practices

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Source and Generate Data Of course, if you don’t have good data, to begin with, you won’t be able to leverage it to your advantage. How to gain visibility and control of your indirect spend. Written by.