Meeting, Reduced Costs and Strategic Sourcing

4 strategic sourcing use cases to strengthen your supply chain

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

Strategic Sourcing Sourcing Supply Chain Management Inventory Management

What Are The Benefits Of Using Strategic Sourcing For Businesses In Procurement?

Obobo

MARCH 7, 2023

What Are The Benefits Of Using Strategic Sourcing For Businesses In Procurement? Strategic sourcing has emerged as a vital tool for organizations looking to optimize their procurement processes and reduce costs without sacrificing quality. What is Strategic Sourcing?

Strategic Sourcing

Strategic Sourcing Sourcing Reduced Costs Flexibility

How to Navigate the Supply Chain Mess

Perficient Digital Transformation

NOVEMBER 8, 2021

What can a company do to meet these hefty customer expectations in the middle of this supply chain mess? We work with you to build supply chain core competencies and identify initiatives that align with your corporate strategy, streamline operations, and reduce costs. Strategic sourcing and spend control.

Supply Chain Management

Supply Chain Management E-Commerce Manufacturing Strategic Sourcing

Change Management/Sourcing Change Management

SIG Speaks

APRIL 25, 2023

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

Sourcing

Sourcing Management Co-Sourcing Strategic Sourcing

What Are The Benefits Of Using Purchase Management Software In Procurement?

Obobo

MARCH 7, 2023

Benefits of using purchase management software include increased efficiency, improved accuracy, and reduced costs. This can reduce the chances of errors and miscommunications between buyers and suppliers. This information can be used to negotiate better deals with suppliers and find cost-saving opportunities.

Software

Software Management Reduced Costs Data Entry

How To Calculate Procurement Savings

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

Strategic Sourcing Finance Software Out-Tasking

11 Cost Reduction Strategies in Procurement

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

Reduced Costs Inventory Management Automation Sourcing

Preferred Vendor: What They Are and Why You Should Have A Preferred Vendor Program

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. By pre-selecting vendors that meet your organization’s standards for quality, price, and delivery, you can save time and money on the procurement process. Download Free Copy. Benefits for Buyers.

Reduced Costs

Reduced Costs Finance Accounting Strategic Sourcing

How to build a successful product development strategy

IBM Services

JANUARY 16, 2024

How do those competencies align with an organization’s long-term strategic business plans? It may be useful to rank these advantages—for example, the ability to deploy software quickly or strong strategic sourcing—to capture a deeper sense of where the business stands.

Engineering

Engineering Manufacturing Collaborations Research

Tail Spend Analysis: What Is It, How To Perform It, and the Benefits

Planergy Software

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Introduction To Tail Spend Analysis Tail spend analysis examines a company’s spending patterns and identifies opportunities to reduce costs and improve efficiency.

Strategic Sourcing

Strategic Sourcing Reduced Costs Sourcing Efficiency

Corporate Travel Program: How To Create a Program for Employer and Employee Needs

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Employees are frequently on the move, whether it’s attending conferences, meeting clients, or visiting other branches. How to gain visibility and control of your indirect spend.

Finance

Finance Reduced Costs Management Risk Management

RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. You’ll likely send additional requests if you find the vendor may be able to meet your organization’s needs. How to gain visibility and control of your indirect spend. Download Free Copy. Written by.

Supply Chain Management

Supply Chain Management Strategic Sourcing Sourcing Finance

Procurement Cost Savings – Measure, report and increase cost savings

Obobo

MARCH 30, 2023

If you’re responsible for a procurement team , reducing costs is probably one of the main goals you care about. In fact, cutting costs is the primary KPI for most purchasing organizations. But what’s the best way to measure and report those cost savings ? What are the Benefits of Procurement Cost Savings?

Analytics

Analytics Reduced Costs Strategic Sourcing Software

Everything you need to know about Procurement savings

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. key Takeaway: Procurement savings are the cost reductions achieved by a company when purchasing goods and services through strategic sourcing.

Finance

Finance Strategic Sourcing Software Reduced Costs

Best Practices for Supplier Management

Obobo

AUGUST 2, 2022

SLAs and SOWs specify the thresholds your suppliers must meet. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. A successful supplier management program goes beyond strategic sourcing. Table of Contents.

Management

Management Right-Sizing Supply Chain Management Strategic Sourcing

The Top 8 Business Travel Management Tools

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Approval Process Implement an approval process to ensure that travel bookings meet company requirements and align with the travel policy. How to gain visibility and control of your indirect spend.

Management

Management Right-Sizing Software Finance

Best Practices for Supplier Management

Obobo

AUGUST 16, 2022

SLAs and SOWs specify the thresholds your suppliers must meet. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. A successful supplier management program goes beyond strategic sourcing. Table of Contents.

Management

Management Right-Sizing Supply Chain Management Strategic Sourcing

Supplier Tiers: What’s The Difference Between Tier 1, Tier 2, and Tier 3

Planergy Software

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Supplier tiering also helps reduce costs by eliminating inefficient or unnecessary processes in the supply chain. How to gain visibility and control of your indirect spend. Download Free Copy.

Supply Chain Management

Supply Chain Management Regulations Manufacturing Finance

Supplier Management Best Practices

Planergy Software

MARCH 24, 2022

Determine Business Requirements Procurement is about more than cutting costs and trying to find the least expensive deal. SOWs and SLAs document established the thresholds your vendors are required to meet. As you work to build the right supplier management system for your business, consider these best practices.

Management

Management Insurance Supply Chain Management Right-Sizing

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

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. How to gain visibility and control of your indirect spend. Download Free Copy. Written by.

Analytics

Analytics Out-Tasking Right-Sizing Sourcing

Supplier Consolidation: What It Is, Benefits, and Risks

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

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management

CFO Challenges and Priorities in 2021 And Beyond

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

Finance Collaborations Flexibility Robotics Process Automation

Procurement Methods: How To Source and Evaluate The Best Suppliers To Work With

Planergy Software

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It’s often tedious for many companies, as procurement involves identifying the right supplier and ensuring that goods and services meet organizational needs. certifications or experience).

Sourcing

Sourcing Strategic Sourcing Finance Automation

Horizontal vs. Vertical Integration: A Comprehensive Guide

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This can lead to the development of proprietary technologies, exclusive features, and tailored solutions that meet specific customer needs. How to gain visibility and control of your indirect spend.

Manufacturing

Manufacturing E-Commerce Human Resources Marketing

Global Sourcing Brief

4 strategic sourcing use cases to strengthen your supply chain

What Are The Benefits Of Using Strategic Sourcing For Businesses In Procurement?

Trending Sources

How to Navigate the Supply Chain Mess

Change Management/Sourcing Change Management

What Are The Benefits Of Using Purchase Management Software In Procurement?

How To Calculate Procurement Savings

11 Cost Reduction Strategies in Procurement

Preferred Vendor: What They Are and Why You Should Have A Preferred Vendor Program

How to build a successful product development strategy

Tail Spend Analysis: What Is It, How To Perform It, and the Benefits

Corporate Travel Program: How To Create a Program for Employer and Employee Needs

RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

Procurement Cost Savings – Measure, report and increase cost savings

Everything you need to know about Procurement savings

Best Practices for Supplier Management

The Top 8 Business Travel Management Tools

Best Practices for Supplier Management

Supplier Tiers: What’s The Difference Between Tier 1, Tier 2, and Tier 3

Supplier Management Best Practices

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

Supplier Consolidation: What It Is, Benefits, and Risks

CFO Challenges and Priorities in 2021 And Beyond

Procurement Methods: How To Source and Evaluate The Best Suppliers To Work With

Horizontal vs. Vertical Integration: A Comprehensive Guide

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