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

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

SIG Speaks

SEPTEMBER 14, 2023

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.

Supply Chain Management 40

Supply Chain Management Sourcing Strategic Sourcing Risk Management 40

IBM Services

JANUARY 16, 2024

Consumers have access to more information than ever to compare products and brands. How do those competencies align with an organization’s long-term strategic business plans? Why is a strong product development strategy important?

Engineering 83

Engineering Manufacturing Collaborations Research 83

Planergy Software

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. If you’ve been in business for a while, you can use information from the prior year to help you set up the budget. 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. RFI: Request for Information. An RFI is issued when a procuring organization wants more general information about a potential vendor or solution. How to gain visibility and control of your indirect spend.

Supply Chain Management 52

Supply Chain Management Strategic Sourcing Sourcing Finance 52

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Implement a travel approval process that considers the potential risks associated with each trip and ensures employees have the necessary resources and information to travel safely.

Finance 52

Finance Reduced Costs Management Risk Management 52

Obobo

AUGUST 2, 2022

The management needs to approve the policy that outlines how you will keep stakeholders informed. In addition to your supplier policy, you should also establish your risk assessment principles, including financial, legal, and information security risks. As part of the agreement, you must share information and priorities.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Obobo

JANUARY 15, 2023

Procurement cost savings is the process of reducing costs associated with acquiring goods or services, without sacrificing quality. In this article, we will explore the definition of procurement cost savings, as well as its advantages and disadvantages. The different types of procurement cost savings.

Reduced Costs 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

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

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Additionally, since it requires minimal effort and resources compared to other cost analysis methods, it has become a popular choice among many businesses looking for ways to optimize their budgeting process.

Supply Chain Management 52

Supply Chain Management Reduced Costs Robotics Process Automation Analytics 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

Obobo

AUGUST 16, 2022

The management needs to approve the policy that outlines how you will keep stakeholders informed. In addition to your supplier policy, you should also establish your risk assessment principles, including financial, legal, and information security risks. As part of the agreement, you must share information and priorities.

Management 52

Management Right-Sizing Supply Chain Management 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 ? Remember, every penny counts in procurement cost savings.

Analytics 40

Analytics Reduced Costs Strategic Sourcing Software 40

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The app also sends real-time flight alerts to keep you informed about any changes to your flights. How to gain visibility and control of your indirect spend. How Do I Choose the Right Tool for My Organization?

Management 52

Management Right-Sizing Software Finance 52

Planergy Software

MARCH 24, 2022

Management needs to improve approve the policy which outlines how you will keep stakeholders informed. Your vendor policy should also help to establish your risk assessment principles including Financial, legal, and information security risk. You need to share information and priority as part of the agreement.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Planergy Software

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Supplier tiering also helps reduce costs by eliminating inefficient or unnecessary processes in the supply chain. How to gain visibility and control of your indirect spend. Download Free Copy.

Supply Chain Management 52

Supply Chain Management Regulations Manufacturing Finance 52

Planergy Software

OCTOBER 4, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Organizations must collect and analyze vast amounts of data to make informed decisions and improve their operations. This information can then be used to make better business decisions or improve operations.

Analytics 52

Analytics Out-Tasking Right-Sizing Sourcing 52

Obobo

JUNE 15, 2022

The ability to obtain standardised information from suppliers has been and continues to be a challenge. It is difficult for procurement departments to compare quotes or due-diligence information received from suppliers in different formats, as they are offered in different formats; hunting the information down can take a lot of time.

Strategic Sourcing 52

Strategic Sourcing Sourcing Software Streamline Operations 52

Planergy Software

MARCH 29, 2022

With a plethora of data collection points available at their disposal, it’s easier for business leaders to be lost in the information glut. However, every business and business leader should ponder for a moment: will collecting such a huge volume of data make sense unless it provides meaningful information and insights?

Analytics 52

Analytics Accounting Finance Strategic Sourcing 52

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

Planergy Software

SEPTEMBER 12, 2023

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.

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

FEBRUARY 8, 2022

Strategic Sourcing Supplier Performance Supplier Relationship Management. Why is developing collaborative relationships with your most strategic suppliers crucial to your success? It helps to make process improvements, reduce costs, and continues to encourage innovation in the products or services you offer.

Strategic Sourcing 52

Strategic Sourcing Supply Chain Management Collaborations Finance 52

Planergy Software

DECEMBER 11, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. MATs will usually centralize specific business functions, like finance, to improve efficiency and reduce costs across the group of schools. How to gain visibility and control of your indirect spend.

Government 52

Government Collaborations Finance Accounting 52