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. Supplier consolidation is the process of reducing the number of suppliers you use for a given product or service.

Strategic Sourcing 52

Strategic Sourcing Reduced Costs Sourcing Supply Chain Management 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

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. However, managing procurement can be costly, and costs can add up quickly.

Reduced Costs 52

Reduced Costs Inventory Management Automation Sourcing 52

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

Perficient Digital Transformation

NOVEMBER 8, 2021

Supply chain management deals with the centralized management of the flow of goods and services and includes all processes that transform raw materials into final products. We work with you to build supply chain core competencies and identify initiatives that align with your corporate strategy, streamline operations, and reduce costs.

Supply Chain Management 69

Supply Chain Management E-Commerce Manufacturing Strategic Sourcing 69

SIG Speaks

APRIL 25, 2023

To gain efficiencies, reduce costs and ensure long-term viability, the company executives wanted to consolidate the company as one. The sourcing lead ensured buy-in from the plant's critical stakeholders for the food service change by clearly communicating the industry.

Sourcing 40

Sourcing Management Co-Sourcing Strategic Sourcing 40

Obobo

DECEMBER 17, 2021

As well as repairs, training, and other services, companies sometimes require a wide range of services to maintain them. Such costs can accumulate, especially if they are not properly managed. 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

Obobo

MARCH 7, 2023

Benefits of using purchase management software include increased efficiency, improved accuracy, and reduced costs. This can reduce the chances of errors and miscommunications between buyers and suppliers. This information can be used to negotiate better deals with suppliers and find cost-saving opportunities.

Software 40

Software Management Reduced Costs Data Entry 40

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

SEPTEMBER 14, 2023

To effectively utilize TCO in my role, I will apply the cost model approach to identify all costs associated with the sourced goods or services. This will help me have a holistic view of the total costs associated with the good or service rather than just focusing on the price quoted by the supplier.

Supply Chain Management 40

Supply Chain Management Sourcing Risk Management Risk Management 40

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. There are various types of cost savings , such as hard savings and soft savings, and not all savings are equal. What is Procurement? What is Procurement ?

Finance 45

Finance Strategic Sourcing Software Reduced Costs 45

Planergy Software

MARCH 2, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Introduction To Tail Spend Analysis Tail spend analysis examines a company’s spending patterns and identifies opportunities to reduce costs and improve efficiency.

Strategic Sourcing 52

Strategic Sourcing Reduced Costs Sourcing Efficiency 52

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. What is procurement cost savings?

Reduced Costs 40

Reduced Costs Out-Tasking Strategic Sourcing Automation 40

Planergy Software

NOVEMBER 1, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. In business, the term “preferred vendor” refers to a supplier that has been vetted and approved by a company to provide goods or services to that company on an ongoing basis. Download Free Copy.

Reduced Costs 52

Reduced Costs Finance Accounting Strategic Sourcing 52

Planergy Software

AUGUST 8, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It’s often tedious for many companies, as procurement involves identifying the right supplier and ensuring that goods and services meet organizational needs.

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. The same principle applies to spend analysis and procurement management: by focusing on the most expensive products and services, you can get the biggest return on investment in terms of cost savings.

Supply Chain Management 52

Supply Chain Management Reduced Costs Robotics Process Automation Analytics 52

IBM Services

JANUARY 16, 2024

How do those competencies align with an organization’s long-term strategic business plans? It may be useful to rank these advantages—for example, the ability to deploy software quickly or strong strategic sourcing—to capture a deeper sense of where the business stands.

Engineering 80

Engineering Manufacturing Collaborations Research 80

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

Planergy Software

OCTOBER 18, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Additionally, partnering with preferred suppliers and negotiating volume discounts can lead to substantial realized cost savings. How to gain visibility and control of your indirect spend.

Finance 52

Finance Reduced Costs Management Risk Management 52

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It allows organizations to assess whether or not there are suppliers capable of providing the goods or services they need before committing to issuing an RFP or RFQ. Download Free Copy. 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 ? How to Report Procurement Cost Savings?

Analytics 40

Analytics Reduced Costs Strategic Sourcing Software 40

Obobo

AUGUST 2, 2022

You should define your scope of work (SOW) or service-level agreement (SLA) outside your boilerplate policy document. The contract should also contain clear payment terms that describe the cost of services and products, the payment schedules, and any late payment penalties. Maintain a Supplier Database.

Management 64

Management Right-Sizing Supply Chain Management Strategic Sourcing 64

Planergy Software

MARCH 29, 2022

This step can make or break an organization’s ability to understand its data better and leverage it to maximize profitability, reduce cost, and create value for shareholders. Translate information into insights The final step is to derive the required information to make better strategic decisions and generate more value from data.

Analytics 52

Analytics Accounting Finance Strategic Sourcing 52

Obobo

AUGUST 16, 2022

You should define your scope of work (SOW) or service-level agreement (SLA) outside your boilerplate policy document. The contract should also contain clear payment terms that describe the cost of services and products, the payment schedules, and any late payment penalties. Maintain a Supplier Database.

Management 52

Management Right-Sizing Supply Chain Management Strategic Sourcing 52

Planergy Software

JANUARY 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. It allows companies to develop relationships with key suppliers who provide the best value for money and services, allowing for easier supply chain management and lower supply chain risk. Download Free Copy.

Supply Chain Management 52

Supply Chain Management Regulations Manufacturing Finance 52

Obobo

FEBRUARY 14, 2023

That’s why cost avoidance in procurement is more important than ever—it helps you ensure that you are getting the best value for your money while avoiding unnecessary costs. In this guide, we will explore what cost avoidance is and how you can use it to reduce your overall spending on supplies and services.

Automation 52

Automation Sourcing Strategic Sourcing Analytics 52

Planergy Software

SEPTEMBER 12, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. This can involve activities such as acquiring or establishing distribution channels, retail outlets, or service centers. How to gain visibility and control of your indirect spend.

Manufacturing 52

Manufacturing E-Commerce Human Resources Marketing 52

Planergy Software

MARCH 24, 2022

Define your scope of work (SOW) or service-level agreements (SLAs) outside of your boilerplate policy document. Your contract should also include clearly delineated payment terms that describe the cost of services and products, the payment schedules, payees, and any late payment penalties.

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. Cost Savings. How to gain visibility and control of your indirect spend. Written by.

Analytics 52

Analytics Out-Tasking Right-Sizing Sourcing 52