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

Strategic Sourcing 84

Strategic Sourcing Sourcing Supply Chain Management Inventory Management 84

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. Read on to learn more about how effective vendor analysis can help you streamline your supply chain management efforts! What Does a Vendor Analyst Do?

Risk Management 52

Risk Management Risk Management Supply Chain Management Sourcing 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