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.
IBM Services
MAY 1, 2024
From demand forecasting to route optimization, inventory management and risk mitigation, the applications of generative AI are limitless. Inventory management Generative AI models can continuously generate optimized replenishment plans based on real-time demand signals, supplier lead times and inventory levels.
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IBM Services
FEBRUARY 19, 2024
Here’s how companies are using different strategies to address supply chain management and meet their business goals. Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics.
Planergy Software
SEPTEMBER 10, 2021
Procurement is the act of buying raw materials, goods, and services for a business, as guided by formalized procedures, internal controls, and processes related to not just finance, but inventory management, supply chain management, and supplier relationship management as well. Improving inventory management.
Obobo
MARCH 23, 2023
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.
Planergy Software
JUNE 21, 2022
How better management in AP can give you better flexibility for cash flow management. Cash Flow Governance Risk Management & Compliance (GRC). Low Inventory Turnover Rates Calculate your inventory turnover rate by finding the ratio of sales to the inventory available at the end of the same period.
Planergy Software
DECEMBER 16, 2021
It is about controlling and making improvements to the way your organization spends money and isn’t just about managing accounts payable. It includes managing supplier relationships, inventory management, category management, and more. How Spend Management Improves Procurement.
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