Reduced Costs Risk Management Strategic Sourcing 
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.
Planergy Software
MAY 5, 2022
How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. How Strategic Procurement Can Give You a Competitive Advantage. Procurement Strategic Sourcing. Easier to Mitigate Supply Risk Supplier risk management is crucial for any organization.
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Planergy Software
SEPTEMBER 24, 2021
Securing competitive advantage means mastering emerging technologies and developing strategies that incorporate risk management, data-driven decision making, and a collaborative, agile approach. They don’t just lead the finance team or spearhead initiatives to reduce costs. The result?
Planergy Software
SEPTEMBER 5, 2023
How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Steps in the Budgeting Process Budgeting is a crucial aspect of financial management that helps businesses plan and allocate resources effectively.
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’.
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.
SIG Speaks
SEPTEMBER 14, 2023
First, I could utilize cost models to target process areas that need improvement. Once an area with high costs is identified, I can work on finding ways to optimize processes and reduce costs. I would consider my company an advanced procurement organization.
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