SIG Speaks

JUNE 20, 2023

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.

Sourcing 40

Sourcing Strategic Sourcing Impact Sourcing Engineering 40

Planergy Software

JANUARY 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Supplier risk is always there, but using various risk management strategies can help you minimize the impact. How to report and analyze indirect spend to identify savings opportunities.

Supply Chain Management 52

Supply Chain Management Risk Management Risk Management Government 52

IBM Services

DECEMBER 13, 2023

Additional goals might be risk management and mitigation, supplier relationship management and sustainability considerations. Additional procurement software includes spend analytics tools and supplier relationship management (SRM) software.

Sourcing 70

Sourcing Administrative Collaborations Strategic Sourcing 70

Obobo

DECEMBER 17, 2021

In light of the ongoing effects of the pandemic, it is essential that businesses keep track of all cost reduction initiatives and strategic sourcing in order to survive harsh economic declines. As the influential thinker on management, Peter Drucker, famously said ‘if you can’t measure, it you can’t improve it’.

Strategic Sourcing 52

Strategic Sourcing Finance Software Out-Tasking 52

Planergy Software

MARCH 29, 2022

With a plethora of data collection points available at their disposal, it’s easier for business leaders to be lost in the information glut. However, every business and business leader should ponder for a moment: will collecting such a huge volume of data make sense unless it provides meaningful information and insights?

Analytics 52

Analytics Accounting Finance Strategic Sourcing 52

SIG Speaks

SEPTEMBER 14, 2023

SIG University Certified Sourcing Professional (CSP) program graduate Heather Frazer discusses how TCO is a great tool that will help capture the entire potential for cost savings and risk and how it is increasingly important for procurement organizations to secure reliable data.

Supply Chain Management 40

Supply Chain Management Sourcing Risk Management Risk Management 40

SIG Speaks

OCTOBER 19, 2023

By presenting clearly and concisely, procurement professionals can foster transparency and accountability, enabling executives to make informed decisions based on a thorough understanding of the procurement function's contributions. One of the primary objectives of procurement is to achieve cost savings while maintaining quality and efficiency.

Strategic Sourcing 40

Strategic Sourcing Sourcing Manufacturing Risk Management 40

Obobo

JULY 1, 2022

Sourcing It is at this point in the process that suppliers are evaluated on their abilities to provide the goods or services requested and invited to participate in the bidding exercise. Evaluation of suppliers is usually done via a Request For information (RFI) process. Can Source To Pay (S2P) Help Accounts Payable (AP)?

Sourcing 52

Sourcing Accounting Software Automation 52

SIG Speaks

MAY 10, 2022

It's imperative only to provide the information needed for the senior executives to decide. Our supplier risk management team also sits outside of the corporate procurement department. To elaborate on a few, I found presenting to Senior Executives to be very interesting. learn more. .

Sourcing 40

Sourcing Risk Management Risk Management Strategic Sourcing 40

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. It typically includes information about the supplier’s strengths and weaknesses, potential risks, and opportunities for improvement.

Risk Management 52

Risk Management Risk Management Supply Chain Management Sourcing 52

Planergy Software

MARCH 25, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How To Create Savings With Better Spend Management In Procurement. Users get access to the information they need when they need it. How to gain visibility and control of your indirect spend. Download Free Copy.

Management 52

Management Strategic Sourcing Accounting Software 52

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. A well-designed corporate travel program prioritizes employee safety by vetting travel suppliers, providing travel risk management resources, and offering 24/7 support for travelers in case of emergencies.

Finance 52

Finance Reduced Costs Management Risk Management 52

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

MARCH 24, 2022

Your vendor management policy should be written as a form of document. Management needs to improve approve the policy which outlines how you will keep stakeholders informed. The vendor management policy document should also outline the ideal number of vendors based on the categories you established.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Planergy Software

APRIL 19, 2022

This process left upper management such as Chief Financial Officers (CFOs) in the dark regarding purchases, leaving them to simply pay the bills at month-end. Procurement is responsible for finding and managing the proper outside resources for a business. What Is Procurement Responsible For?

Finance 52

Finance Accounting Out-Tasking Manufacturing 52

Planergy Software

SEPTEMBER 20, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Once you’ve identified a travel management app, ensuring all stakeholders are on board with its implementation is important. Reputable travel management tools employ robust security measures to protect your data.

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

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Strategic Considerations: Understanding and selecting the right integration strategy can significantly impact a company’s growth and success. How to gain visibility and control of your indirect spend.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 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

Planergy Software

DECEMBER 16, 2024

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Fraud Detection Machine learning can detect fraudulent activities in real-time by analyzing patterns of transactions and customer behavior, reducing the risk of fraud and improving the accuracy of fraud detection.

Finance 52

Finance Automation Management Reduced Costs 52