Planergy Software

NOVEMBER 29, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Best Practices & Tips Strategic Sourcing Supplier Relationship Management. Vendor consolidation provides several benefits, including: Reduced Costs through Economies of Scale.

Strategic Sourcing 52

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management 52

Planergy Software

SEPTEMBER 24, 2021

They focused the lion’s share of their time and skill set on dealing with regulatory issues, guiding their teams in cutting costs, managing cash flow, and enforcing budgeting initiatives, and then reporting the results. They don’t just lead the finance team or spearhead initiatives to reduce costs.

Finance 97

Finance Collaborations Robotics Process Automation Flexibility 97

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. To configure, manage, and track custom savings, procurement teams often use source-to-pay or finance software. Table of Contents.

Strategic Sourcing 52

Strategic Sourcing Finance Software Out-Tasking 52

Planergy Software

SEPTEMBER 5, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These insights are essential for making strategic decisions, such as expanding into new markets, launching new products, or acquiring other businesses.

Finance 92

Finance Software Accounting Management 92

Obobo

MARCH 23, 2023

For companies looking to reduce costs, procurement is often one of the first places they look. Cost reduction during procurement processes can be accomplished through various strategies that range from the short-term to medium and long-term goals. Short-term Cost Reduction Strategies Short-term Cost Reduction Strategies: 1.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52

Obobo

JUNE 15, 2022

How will using eSourcing , as well as eRFx ultimately help business owners make more informed decisions when it comes to their strategic sourcing initiatives? RFx brings together RFIs , RFPs and RFQs , and is, therefore, an acronym that is used more frequently in strategic sourcing and procurement. .

Strategic Sourcing 52

Strategic Sourcing Sourcing Software Streamline Operations 52

SIG Speaks

MAY 16, 2023

SIG University Certified Sourcing Professional (CSP) program graduate Noah Wilson discusses how crowdsourcing could be the innovation that businesses need to succeed in a rapidly changing environnment. A crowdsourcing organization of engineers and operators could be used to facilitate plant outage and capital expenditure projects.

Sourcing 40

Sourcing Strategic Sourcing Engineering Regulations 40

SIG Speaks

OCTOBER 12, 2023

The rapid advancements in AI have notably impacted various business functions, including procurement and sourcing. Businesses and organizations continue to strive to enhance efficiency, reduce costs, and gain a competitive edge, and AI technologies have begun to revolutionize the procurement landscape.

Sourcing 40

Sourcing Strategic Sourcing Outsourcing Regulations 40

Obobo

AUGUST 2, 2022

Consider risk factors, diverse requirements, and the dynamic nature of your market. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. A successful supplier management program goes beyond strategic sourcing.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Planergy Software

FEBRUARY 8, 2022

Strategic Sourcing Supplier Performance Supplier Relationship Management. Why is developing collaborative relationships with your most strategic suppliers crucial to your success? It helps to make process improvements, reduce costs, and continues to encourage innovation in the products or services you offer.

Strategic Sourcing 52

Strategic Sourcing Supply Chain Management Collaborations 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. key Takeaway: Procurement savings are the cost reductions achieved by a company when purchasing goods and services through strategic sourcing.

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Obobo

JANUARY 15, 2023

Procurement cost savings is the process of reducing costs associated with acquiring goods or services, without sacrificing quality. In this article, we will explore the definition of procurement cost savings, as well as its advantages and disadvantages. The different types of procurement cost savings.

Reduced Costs 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

Planergy Software

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Open tendering is preferable as it allows companies to apply for multiple contracts at once, resulting in more efficient use of resources and reduced cost-over-runs from multiple procurement processes.

Sourcing 52

Sourcing Strategic Sourcing Finance Automation 52

Planergy Software

JANUARY 19, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Additionally, since it requires minimal effort and resources compared to other cost analysis methods, it has become a popular choice among many businesses looking for ways to optimize their budgeting process.

Supply Chain Management 52

Supply Chain Management Reduced Costs Robotics Process Automation Analytics 52

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. RFIs can also help buyers identify potential suppliers and compare them against each other, which is crucial for strategic sourcing. How to gain visibility and control of your indirect spend. Written by.

Supply Chain Management 52

Supply Chain Management Strategic Sourcing Sourcing Finance 52

Obobo

MARCH 30, 2023

If you’re responsible for a procurement team , reducing costs is probably one of the main goals you care about. In fact, cutting costs is the primary KPI for most purchasing organizations. But what’s the best way to measure and report those cost savings ? What are the Benefits of Procurement Cost Savings?

Analytics 40

Analytics Reduced Costs Software Strategic Sourcing 40

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This approach allows businesses to grow their market power, diversify their product offerings, and achieve economies of scale. How to gain visibility and control of your indirect spend.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52

Obobo

AUGUST 16, 2022

Consider risk factors, diverse requirements, and the dynamic nature of your market. Having an accurate and up-to-date supplier database is crucial to reducing costs, selecting new vendors, and promoting strong supplier relationships. A successful supplier management program goes beyond strategic sourcing.

Management 52

Management Right-Sizing Supply Chain Management Strategic Sourcing 52

Planergy Software

MARCH 24, 2022

Consider risk factors, how diverse your requirements are, and how Dynamic your Market is. Create and Maintain a Supplier Database It’s crucial to own a detailed and current supplier database as this will help in planning, reducing costs, choosing new vendors, and promoting strong supplier relationships.

Management 52

Management Insurance Supply Chain Management Right-Sizing 52

Planergy Software

OCTOBER 4, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Another advantage of big data analytics is that it can help organizations reduce costs and improve efficiency. Market Insights. Big data can also help businesses improve their marketing efforts.

Analytics 52

Analytics Out-Tasking Right-Sizing Sourcing 52

Obobo

FEBRUARY 14, 2023

In order to avoid costs, procurement teams must be proactive and take actions such as negotiating better prices with suppliers, improving processes to reduce waste, and conducting market research to find cheaper alternatives. This is one of the most effective ways to reduce costs. Review your current spend.

Automation 52

Automation Sourcing Strategic Sourcing Management 52

Planergy Software

DECEMBER 16, 2024

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This reduces the time spent on manual data entry and helps businesses avoid errors and reduce costs. It can also help reduce trading costs and improve portfolio returns.

Finance 52

Finance Automation Management Reduced Costs 52