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What Is Strategic Sourcing? – Definition

Obobo

What Is Strategic Sourcing? In the context of digital transformation, procurement and supply chain processes are evolving as a result of strategic sourcing, and the trend is poised to continue. This is what differentiates strategic sourcing from conventional purchasing. . How Does Strategic Sourcing Work?

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What Is Strategic Sourcing? – Definition

Obobo

What Is Strategic Sourcing? In the context of digital transformation, procurement and supply chain processes are evolving as a result of strategic sourcing, and the trend is poised to continue. This is what differentiates strategic sourcing from conventional purchasing. . How Does Strategic Sourcing Work?

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Corporate Market Data Renewal

SIG Speaks

SIG University Certified Sourcing Professional (CSP) program graduate Jason Feldman provides an example of corporate market data renewal and how it applies to sourcing. The contract and deal renewal are finalized.

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If IT Is from Mars, Procurement Is from Venus: 5 Steps to Break the Chasm between IT and Procurement for IT Sourcing

Everest Group

It may seem at times that the IT and procurement departments can be on different planets when it comes to IT sourcing services spend. Anyone who has set up a new procurement department at a firm with large volumes of untracked indirect spend knows they first need to target the IT department and get involved in their sourcing projects.

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How To Calculate Procurement Savings

Obobo

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. Savings tracking refers to a method of estimating how much a company will save by using strategic sourcing and other cost-effective tactics.

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Big Data Analytics: What It Is and Why It Is Important

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Businesses can collect structured, semi-structured, and unstructured data from various sources such as cloud computing and storage, mobile apps, Internet of Things (IoT) gadgets, supply chain software, and other sources.

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Best Practices for Supplier Management

Obobo

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.