Strategic Sourcing + Smart Solutions: The Unbeatable Duo for Procurement Success
SCMDOJO
JANUARY 9, 2025
A 2023 Deloitte study revealed that companies using strategic sourcing models saw a 15% reduction in procurement costs. Companies with strategic sourcing strategies in place were able to avoid production stoppages by having alternative suppliers ready. Studies show that involving suppliers early can reduce development costs by 10-20%.
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