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.

Strategic Sourcing 84

Strategic Sourcing Sourcing Supply Chain Management Inventory Management 84

Sourcing Captain

SEPTEMBER 16, 2021

As we have discussed in our previous blogs, strategic sourcing is the perfect and innovative way to reduce costs, achieve a faster time to market and improve the quality of the final product. Moreover, it has been shown that 88 percent of organizations consider strategic sourcing as critical or major.

Strategic Sourcing 130

Strategic Sourcing Sourcing Management Reduced Costs 130

Ivemsa

SEPTEMBER 28, 2022

The common urge is to select the cheapest price for material procurement, though this could eventually cost more due to a lack of quality. Implementing strategic sourcing is a way to add long-term value and continually optimize manufacturing processes. Develop a Sourcing Strategy. Evaluate Project Needs.

Strategic Sourcing 52

Strategic Sourcing Nearshoring Sourcing Manufacturing 52

Perficient Digital Transformation

NOVEMBER 8, 2021

Companies should know where products are in the supply chain, whether it’s raw materials, suppliers, manufacturing, distribution, or retailers. This means that there should be support and communication from various business functions rather than having a “laissez-faire” approach to the manufacturing process.

Supply Chain Management 69

Supply Chain Management E-Commerce Manufacturing Strategic Sourcing 69

SIG Speaks

APRIL 25, 2023

The company's prior organizational structure was that each facility was its entity with its procurement, human resources, quality, and manufacturing departments excreta. To gain efficiencies, reduce costs and ensure long-term viability, the company executives wanted to consolidate the company as one.

Sourcing 40

Sourcing Management Co-Sourcing Strategic Sourcing 40

IBM Services

JANUARY 16, 2024

This will become the sample as materials and vendors are sourced for mass production. Sourcing and manufacturing During this phase, a business gathers materials and contracts with partners, if applicable, to create a detailed plan for actual production.

Engineering 80

Engineering Manufacturing Collaborations Research 80

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