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

Planergy Software

MAY 5, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How Strategic Procurement Can Give You a Competitive Advantage. Procurement Strategic Sourcing. Easier to Mitigate Supply Risk Supplier risk management is crucial for any organization.

Strategic Sourcing 59

Strategic Sourcing Sourcing Reduced Costs Supply Chain Management 59

SIG Speaks

SEPTEMBER 14, 2023

First, I could utilize cost models to target process areas that need improvement. Once an area with high costs is identified, I can work on finding ways to optimize processes and reduce costs. I would consider my company an advanced procurement organization.

Supply Chain Management 40

Supply Chain Management Sourcing Strategic Sourcing Risk Management 40

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

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

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. A well-designed corporate travel program prioritizes employee safety by vetting travel suppliers, providing travel risk management resources, and offering 24/7 support for travelers in case of emergencies.

Finance 52

Finance Reduced Costs Management Risk Management 52

Planergy Software

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Steps in the Budgeting Process Budgeting is a crucial aspect of financial management that helps businesses plan and allocate resources effectively.

Finance 92

Finance Software Accounting Management 92