Remove 2022 Remove Risk Management Remove Strategic Sourcing
article thumbnail

4 strategic sourcing use cases to strengthen your supply chain

IBM Services

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.

article thumbnail

If IT Is from Mars, Procurement Is from Venus: 5 Steps to Break the Chasm between IT and Procurement for IT Sourcing

Everest Group

Growth in IT spend from 2016-2022, including hardware, software, and services spend (2021 and 2022 spend values are estimates). Source: Statista (2021). Back each other in times of crisis : While risk management has become key in today’s day and age, occasionally, there are crises that no one can predict.

Sourcing 130
article thumbnail

A Systems Approach to Sourcing & Procurement

SIG Speaks

SIG University Certified Sourcing Professional (CSP) program graduate Thomas Cooper describes how with the increasing pressures on supply chains and sourcing organizations lately, efficiency and effectiveness cannot be understated in an organization. For instance, if you take apart a car, you lose the ability to drive.