IBM Services

DECEMBER 13, 2023

Evaluate and categorize the components of procurement costs, from direct costs—such as the costs of goods and services—to indirect costs—such as administrative expenses and overhead. Additional goals might be risk management and mitigation, supplier relationship management and sustainability considerations.

Sourcing 70

Sourcing Administrative Collaborations Strategic Sourcing 70

SIG Speaks

SEPTEMBER 14, 2023

The Certified Sourcing Professional (CSP) Program is a 10-week course that focuses on the hard and soft skills of sourcing, including strategic sourcing and outsourcing methodologies, as well as best practices in negotiations. I have been with BCBST for four years.

Supply Chain Management 40

Supply Chain Management Sourcing Risk Management Risk Management 40

Future of Sourcing

MAY 9, 2023

Inculcating Contingency Planning The first step in risk management during a crisis is having a strategy. Remember that market circumstance won't always be favorable when developing your sourcing and procurement plans and be sure to account for uncertainties.

Sourcing 52

Sourcing Collaborations Analytics Strategic Sourcing 52

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. A well-structured corporate travel program helps businesses manage costs, ensure employee safety, and maintain a consistent travel experience. How to gain visibility and control of your indirect spend.

Finance 52

Finance Reduced Costs Management Risk Management 52

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Allowing employees to take charge of their travel arrangements reduces the burden on travel managers or administrative staff, freeing them up to focus on other important tasks.

Management 52

Management Right-Sizing Software Finance 52

Obobo

MARCH 21, 2023

Procurement savings refer to the cost reductions that are achieved by a company when it purchases goods and services through a strategic sourcing process. By adopting best practices such as spend analysis, supplier management, and e-procurement , companies can save money and increase efficiency. What is Procurement?

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

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