Remove Document Remove Right-Sizing Remove Strategic Sourcing
article thumbnail

What Is Strategic Sourcing? – Definition

Obobo

What Is Strategic Sourcing? In the context of digital transformation, procurement and supply chain processes are evolving as a result of strategic sourcing, and the trend is poised to continue. This is what differentiates strategic sourcing from conventional purchasing. . How Does Strategic Sourcing Work?

article thumbnail

What Is Strategic Sourcing? – Definition

Obobo

What Is Strategic Sourcing? In the context of digital transformation, procurement and supply chain processes are evolving as a result of strategic sourcing, and the trend is poised to continue. This is what differentiates strategic sourcing from conventional purchasing. . How Does Strategic Sourcing Work?

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Best Practices for Supplier Management

Obobo

Consider these best practices as you build the right supplier management system for your business. You should write down your supplier management policy as a document. As part of the supplier management policy document, you should outline the ideal number of suppliers according to the categories you have defined.

article thumbnail

Best Practices for Supplier Management

Obobo

Consider these best practices as you build the right supplier management system for your business. You should write down your supplier management policy as a document. As part of the supplier management policy document, you should outline the ideal number of suppliers according to the categories you have defined.

article thumbnail

Corporate Market Data Renewal

SIG Speaks

The collective team must review and understand the current spending across the bank for this supplier, leveraging economies of scale where applicable, and delve into the certification of data usage requirements to ensure proper right-sizing of the spend contract, where applicable. The contract and deal renewal are finalized.

article thumbnail

The Top 8 Business Travel Management Tools

Planergy Software

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The right travel management solution can help ensure compliance with company policies, provide valuable insights into travel spending, and streamline the entire travel process. But fear not, weary traveler!

article thumbnail

Supplier Management Best Practices

Planergy Software

As you work to build the right supplier management system for your business, consider these best practices. Develop a Vendor Management Policy A vendor management policy is a document that tells senior management and the board members about all of your vendor management activities.