Reduced Costs, Strategic Sourcing and Supply Chain Management

4 strategic sourcing use cases to strengthen your supply chain

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

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How to Navigate the Supply Chain Mess

Perficient Digital Transformation

NOVEMBER 8, 2021

The COVID-19 pandemic has pushed the weak points of supply chain structures out from under the rug and has prompted a need for supply chain transformations across all industries. ” -Bob Vanek, Chief Strategist, Supply Chain. We can help modernize and mature your end-to-end supply chain.

Supply Chain Management

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What are the different types of sourcing?

IBM Services

JANUARY 31, 2024

With rising consumer and stakeholder expectations around ethical and responsible supply chains, who supplies your organization’s goods and services is also a C-suite consideration. The sourcing process sits within supply chain management and is used for identifying, vetting and selecting the best suppliers.

Sourcing

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How Strategic Procurement Can Give You a Competitive Advantage

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. No longer can strategic sourcing be just in time and just in case. Written by.

Strategic Sourcing

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Supplier Consolidation: What It Is, Benefits, and Risks

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. It can work for basic things like office supplies you don’t often need. Download Free Copy. Written by.

Strategic Sourcing

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Pareto Analysis in Procurement: How To Use Spend Analysis To Cut Costs

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

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RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

Planergy Software

OCTOBER 20, 2022

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Sourcing Supply Chain Management. RFIs can also help buyers identify potential suppliers and compare them against each other, which is crucial for strategic sourcing.

Supply Chain Management

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Best Practices for Supplier Management

Obobo

AUGUST 2, 2022

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. The post Best Practices for Supplier Management appeared first on Oboloo.

Management

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11 Cost Reduction Strategies in Procurement

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

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Maximizing the Potential for Cost-Savings and Risk

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.

Supply Chain Management

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Using Supplier Segmentation To Maximize Supplier Relationships

Planergy Software

FEBRUARY 8, 2022

How better management in AP can give you better flexibility for cash flow management. Strategic Sourcing Supplier Performance Supplier Relationship Management. Why is developing collaborative relationships with your most strategic suppliers crucial to your success? Download Free Copy. Written by.

Strategic Sourcing

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Best Practices for Supplier Management

Obobo

AUGUST 16, 2022

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. The post Best Practices for Supplier Management appeared first on Oboloo.

Management

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Supplier Tiers: What’s The Difference Between Tier 1, Tier 2, and Tier 3

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.

Supply Chain Management

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Supplier Management Best Practices

Planergy Software

MARCH 24, 2022

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. It also involves risk management, supplier relationship management (SRM), and contract management.

Management

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Global Sourcing Brief

4 strategic sourcing use cases to strengthen your supply chain

How to Navigate the Supply Chain Mess

Trending Sources

What are the different types of sourcing?

How Strategic Procurement Can Give You a Competitive Advantage

Supplier Consolidation: What It Is, Benefits, and Risks

Pareto Analysis in Procurement: How To Use Spend Analysis To Cut Costs

RFI, RFP, RFQ, ROI, RFT: What’s the Difference?

Best Practices for Supplier Management

11 Cost Reduction Strategies in Procurement

Maximizing the Potential for Cost-Savings and Risk

Using Supplier Segmentation To Maximize Supplier Relationships

Best Practices for Supplier Management

Supplier Tiers: What’s The Difference Between Tier 1, Tier 2, and Tier 3

Supplier Management Best Practices

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