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

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

AUGUST 2, 2022

Consider these best practices as you build the right supplier management system for your business. Consider risk factors, diverse requirements, and the dynamic nature of your market. Your company may need a risk assessment professional or a risk assessment committee, depending on its size. Maintain a Supplier Database.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Obobo

AUGUST 16, 2022

Consider these best practices as you build the right supplier management system for your business. Consider risk factors, diverse requirements, and the dynamic nature of your market. Your company may need a risk assessment professional or a risk assessment committee, depending on its size. Maintain a Supplier Database.

Management 52

Management Right-Sizing Supply Chain Management Strategic Sourcing 52

Planergy Software

OCTOBER 4, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Another advantage of big data analytics is that it can help organizations reduce costs and improve efficiency. Market Insights. Big data can also help businesses improve their marketing efforts.

Analytics 52

Analytics Out-Tasking Right-Sizing Sourcing 52

Planergy Software

MARCH 24, 2022

As you work to build the right supplier management system for your business, consider these best practices. Consider risk factors, how diverse your requirements are, and how Dynamic your Market is. The vendor management policy document should also outline the ideal number of vendors based on the categories you established.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Planergy Software

SEPTEMBER 24, 2021

They focused the lion’s share of their time and skill set on dealing with regulatory issues, guiding their teams in cutting costs, managing cash flow, and enforcing budgeting initiatives, and then reporting the results. They don’t just lead the finance team or spearhead initiatives to reduce costs.

Finance 97

Finance Collaborations Flexibility Robotics Process Automation 97