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What is Supply Chain Management? A Guide to Success

SCMDOJO

Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation. It also involves inventory management, order fulfillment, and monitoring stock levels.

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Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

What is Procurement? Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.

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Business process management (BPM) examples

IBM Supply Chain Blog

Conversely, it has a larger scope than task management, which deals with individual tasks, and project management, which handles one-time initiatives. By establishing standardized workflows and decision rules, BPM streamlines the claims process by reducing processing times and minimizing errors.

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The 10 Hottest German Procurement Startups

Procurement Software

From the capital and beyond, German procurement startups are chipping away at a conservative business culture, making leaps and bounds towards modernising our profession. Our other article on 25 hottest European procurement startups features those German startups making waves way beyond their borders.