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 86

Strategic Sourcing Sourcing Supply Chain Management Inventory Management 86

Sourcing Captain

SEPTEMBER 16, 2021

As we have discussed in our previous blogs, strategic sourcing is the perfect and innovative way to reduce costs, achieve a faster time to market and improve the quality of the final product. Moreover, it has been shown that 88 percent of organizations consider strategic sourcing as critical or major.

Strategic Sourcing 130

Strategic Sourcing Sourcing Management Reduced Costs 130

Ivemsa

SEPTEMBER 28, 2022

The common urge is to select the cheapest price for material procurement, though this could eventually cost more due to a lack of quality. Implementing strategic sourcing is a way to add long-term value and continually optimize manufacturing processes. Develop a Sourcing Strategy.

Strategic Sourcing 52

Strategic Sourcing Nearshoring Sourcing Manufacturing 52

IBM Services

JANUARY 16, 2024

Research During this phase, the new product idea is placed within the context of the current market. Firms might conduct market research related to their new feature or product line, solicit customer feedback, or engage focus groups. How do those competencies align with an organization’s long-term strategic business plans?

Engineering 83

Engineering Manufacturing Collaborations Research 83

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

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. By developing a PSP, an organization can streamline its procurement process, reduce costs, and improve quality and service levels. Communication is often improved, reducing costly misunderstandings.

Reduced Costs 52

Reduced Costs Finance Accounting Strategic Sourcing 52

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 40

Analytics Reduced Costs Strategic Sourcing Software 40