IBM Services

FEBRUARY 13, 2024

For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals. And from that group, 71% would pay a premium for it.

Strategic Sourcing 85

Strategic Sourcing Sourcing Supply Chain Management Inventory Management 85

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 52

Reduced Costs Inventory Management Automation Sourcing 52

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Sourcing Supply Chain Management. RFIs can also help buyers identify potential suppliers and compare them against each other, which is crucial for strategic sourcing. Download Free Copy.

Supply Chain Management 52

Supply Chain Management Strategic Sourcing Sourcing Finance 52

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. key Takeaway: Procurement savings are the cost reductions achieved by a company when purchasing goods and services through strategic sourcing.

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Implementing a successful corporate travel program can significantly improve employee satisfaction, drive cost savings, and enhance overall business performance. What Is a Corporate Travel Program?

Finance 52

Finance Reduced Costs Management Risk Management 52

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. In addition, a preferred vendor program can help your organization meet its environmental, social, and governance (ESG) objectives. Communication is often improved, reducing costly misunderstandings.

Reduced Costs 52

Reduced Costs Finance Accounting Strategic Sourcing 52

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