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. That’s why vendor analysis is essential to any successful procurement process – it helps ensure that companies procure from reliable suppliers at competitive prices while adhering to applicable regulations.

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. Implement strategic sourcing by establishing a long-term plan that balances costs, risks, and benefits. This can help you identify potential areas of savings.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52

Obobo

FEBRUARY 14, 2023

In order to avoid costs, procurement teams must be proactive and take actions such as negotiating better prices with suppliers, improving processes to reduce waste, and conducting market research to find cheaper alternatives. The benefits of cost avoidance are far-reaching and can have a significant impact on an organization’s bottom line.

Automation 52

Automation Sourcing Strategic Sourcing Analytics 52

Planergy Software

JULY 21, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Vendor Selection Research potential vendors and compare each one against your criteria before selecting a few finalists with whom you can negotiate contracts. How to gain visibility and control of your indirect spend.

Management 52

Management Service Strategic Sourcing Supply Chain Management 52

Planergy Software

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Research Vendors Thoroughly Before you start to narrow down your list of potential vendors, it’s important to do thorough research into each candidate. How to gain visibility and control of your indirect spend.

Sourcing 52

Sourcing Strategic Sourcing Finance Automation 52