Sourcing Captain

SEPTEMBER 16, 2021

As we have discussed in our previous blogs, strategic sourcing is the perfect and innovative way to reduce costs, achieve a faster time to market and improve the quality of the final product. Moreover, it has been shown that 88 percent of organizations consider strategic sourcing as critical or major.

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Strategic Sourcing Sourcing Management Reduced Costs 130

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.

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Strategic Sourcing Sourcing Supply Chain Management Inventory Management 84

IBM Services

JANUARY 31, 2024

Think of it this way: sourcing is the “who” (the suppliers themselves) and procurement is the “what” (goods and services). The main motivators for outsourcing are cost savings; the flexibility to ramp up or scale back functions and goods or services as needed; and greater access to specific skills or raw materials.

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Sourcing Strategic Sourcing Supply Chain Management Outsourcing 98

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.

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Reduced Costs Inventory Management Automation Sourcing 52

SIG Speaks

MAY 16, 2023

Crowdsourcing will play a much more significant role in business due to a lack of highly specialized labor (in the STEM fields specifically) and corporate desire to reduce costs in procurement.

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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.

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Sourcing Strategic Sourcing Outsourcing Regulations 40

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.

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