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4 smart technologies modernizing sourcing strategy

IBM Services

Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

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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. And from that group, 71% would pay a premium for it.

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Establishing a Third-Party Risk Management Program

SIG Speaks

SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Lois Peric shares the essential components for building a third-party risk management program. There are essential components when establishing a third-party risk management program in an organization where none exists.

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The Business Benefits of Impact Sourcing: Beyond Social Good

NoonDalton

Our commitment to impact sourcing isn’t just about meeting a quota or a superficial addition to our corporate social responsibility portfolio. Understanding Impact Sourcing Impact Sourcing is a transformative business practice that extends beyond the conventional boundaries of corporate social responsibility.

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3 Ways Sourcing Professionals Can Proactively Address Risk

Sarah Holliman

With so many avenues for entry, managing risk has become everyone’s job , and the sourcing organization is front and center as their direct relationship with third parties increasingly puts them in the driver’s seat. Consistency. This includes a consistent strategy, message and framework.

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How Best-in-Class Procurement Teams Conduct Sourcing During a Crisis

Future of Sourcing

A recent study by Mckinsey shows that in addition to regaining profitability and finding methods to conserve cash, businesses must also struggle with shifting dynamics in the supply market, evolving workplace practices, variable demand, and de-risking their supply chains to make them less susceptible to disruption.

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What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay

Obobo

What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay. What Is Source To Pay (S2P)? An S2P is a sourcing and procurement process in which suppliers are sought out, negotiated with, signed up for, and eventually paid for their products or services. What Is The Source to Pay Process? Source to pay process: 1.