Future of Sourcing

MAY 9, 2023

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.

Sourcing 52

Sourcing Collaborations Analytics Strategic Sourcing 52

SIG Speaks

AUGUST 31, 2023

SIG University Certified Sourcing Professional (CSP) program graduate Andy Perkins highlights the key foundation for driving excellence between supplier and client in the new market we live in. Suppliers can go bankrupt, see supply chain disruptions, quality issues, and data breaches. Contingency plans for supply chain disruption.

Collaborations 40

Collaborations Strategic Sourcing Sourcing Efficiency 40

Planergy Software

SEPTEMBER 24, 2021

Securing competitive advantage means mastering emerging technologies and developing strategies that incorporate risk management, data-driven decision making, and a collaborative, agile approach. It also eliminates data silos and reduces the risk of miscommunication. ” Top Challenges and Priorities for CFOs. The result?

Finance 97

Finance Collaborations Flexibility Robotics Process Automation 97

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. As the influential thinker on management, Peter Drucker, famously said ‘if you can’t measure, it you can’t improve it’.

Strategic Sourcing 52

Strategic Sourcing Finance Software Out-Tasking 52

Planergy Software

JANUARY 19, 2024

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Vendor analysis is crucial for risk management. Strategic Analysis This analysis looks at a supplier’s strategic value to the business.

Risk Management 52

Risk Management Risk Management Supply Chain Management Sourcing 52

Everest Group

OCTOBER 14, 2021

Organizations are being driven to rapidly undertake digital transformation by recent market trends such as migration to cloud services, servitization, and cybersecurity measures becoming the new norm. creating negotiation opportunities through internal demand management without harming suppliers). trillion in 2021, an 8.6%

Sourcing 52

Sourcing Cybersecurity Right-Sizing Risk Management 52

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This approach allows businesses to grow their market power, diversify their product offerings, and achieve economies of scale. How to gain visibility and control of your indirect spend.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52

Obobo

JULY 1, 2022

In order to implement such a sourcing strategy , companies can use software platforms that can handle historical spending data, market trends, and business objectives. Can Source To Pay (S2P) Help Accounts Payable (AP)? The post What Is Source-To-Pay (S2P)? Source-To-Pay Vs Procure-To-Pay appeared first on Oboloo.

Sourcing 52

Sourcing Accounting Software Automation 52

Obobo

MARCH 21, 2023

Procurement savings refer to the cost reductions that are achieved by a company when it purchases goods and services through a strategic sourcing process. By adopting best practices such as spend analysis, supplier management, and e-procurement , companies can save money and increase efficiency. What is Procurement?

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Planergy Software

MARCH 24, 2022

The vendor management policy document should also outline the ideal number of vendors based on the categories you established. Consider risk factors, how diverse your requirements are, and how Dynamic your Market is. It also involves risk management, supplier relationship management (SRM), and contract management.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Planergy Software

JANUARY 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. To keep consumers happy, your procurement team should closely evaluate all third-party vendors for risks and supply chain vulnerabilities. Supply chain and risk management has forever changed as a result.

Supply Chain Management 52

Supply Chain Management Manufacturing Sourcing Retail 52

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.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52