article thumbnail

4 strategic sourcing use cases to strengthen your supply chain

IBM Services

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.

article thumbnail

Days Inventory Outstanding: What Is It and How to Calculate It

Planergy Software

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How Do You Use Days Inventory Outstanding To Calculate Cash Flow Conversion? What Is Days Inventory Outstanding? What's Planergy?

professionals

Sign Up for our Newsletter

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

article thumbnail

Days Sales Outstanding: What Is It and How To Calculate It

Planergy Software

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. That’s why many CFOs and accounting managers use Days Sales Outstanding to determine how quickly their customers pay their invoices. What's Planergy?

Sales 52
article thumbnail

11 Cost Reduction Strategies in Procurement

Obobo

However, managing procurement can be costly, and costs can add up quickly. Finally, long-term strategies may include the development of partnerships with suppliers and even the implementation of strategic sourcing. Implement strategic sourcing by establishing a long-term plan that balances costs, risks, and benefits.

article thumbnail

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

Planergy Software

Modern Spend Management and Accounts Payable software. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Catalog management in procurement is the strategic process of managing and maintaining a product catalog within an organization.

article thumbnail

The Benefits of Localized Supply Chain

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Sourcing Supply Chain Management. It’s about product development, site inspection, and management, too. Supply chain and risk management has forever changed as a result. Download Free Copy.

article thumbnail

How To Create Savings With Better Spend Management In Procurement

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How To Create Savings With Better Spend Management In Procurement. Spend management refers to the process of collecting, maintaining, categorizing, and reviewing spend data in an effort to reduce procurement costs.