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.

Strategic Sourcing 84

Strategic Sourcing Sourcing Supply Chain Management Manufacturing 84

Planergy Software

SEPTEMBER 24, 2021

AP automation immediately lowers costs—still the number one priority for CFOs in 2021, according to Deloitte research—and sets up further cost reductions over time via continuous improvement via self-guided process optimization. For inventory in particular, the situation is very similar to cash.

Finance 97

Finance Collaborations Robotics Process Automation Flexibility 97

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 Sourcing Automation 52

Planergy Software

JANUARY 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Research shows that investing in supply chain resilience reduces product development cycles by up to 60% and increases output capacity by up to 25%. How to gain visibility and control of your indirect spend.

Supply Chain Management 52

Supply Chain Management Manufacturing Sourcing Retail 52