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4 strategic sourcing use cases to strengthen your supply chain

IBM Supply Chain Blog

In this age of supply chain disruptions that hold the power to upend entire industries, strength and resilience across the entire value chain is no longer a nice-to-have—it’s a survival tactic. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals.

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Supplier Relationship Management Software — Everything You Should Know

Procurement Tactics

Additionally, it allows managers to build better relationships with suppliers based on the importance of each supplier. . SRM is usually used by many supply chain professionals who constantly deal with suppliers in areas such as procurement, project management, and operations. . ProcureWare.

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Procurement Tracking – Everything You Should Know

Procurement Tactics

Budget and Cost Control Procurement expenditures, monitoring variations in the cost and identifying opportunities for savings, and avoiding unnecessary costs shall be monitored in accordance with the approved budget. It also ensures that the procurement process is aligned with financial targets and objectives.

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Q4 2023 Insider roundup: A deep dive into procurement tech market movements; updated coverage of 15 vendors

Spend Matters

Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data. Read part 1 here , part 2 here and part 3 here.

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Procurement Technology: 6 Solutions You Should Know In 2024

Pipefy

That’s where procurement, sourcing, and purchasing technology comes in. Because procurement teams provide critical insights to inform business strategy , identifying opportunities to cut costs is one of the most important ways they do this. To do any of these effectively, they need the right procurement technology.

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The AI Advantage: Unlocking New Value for Procurement Teams

World of Procurement blog

This supports strategic sourcing efforts. Predicting future spend : By analyzing historical spend data, AI algorithms can create spending forecasts, predict seasonal demand changes, and model the impact of external factors on budgets. This maximizes value from sourcing partnerships. This enables more accurate planning.

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The Dirty Little Secrets in Procurement!

Supply Chain Game Changer

Subscribe to Supply Chain Game Changer. Procurement is a function that is undergoing an exciting transformation in the majority of global value chains; simultaneously, within its own strategy, process, and technology. Lack of Visibility Beyond Tier 1. And, only 15% had visibility into tier 2 or beyond.