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4 smart technologies modernizing sourcing strategy

IBM Supply Chain Blog

Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

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Zivio: Vendor Analysis, 2023 Update — Services sourcing solution overview, competitors, tech selection tips, analyst summary

Spend Matters

In this Spend Matters Vendor Analysis Update, we give an updated overview of Zivio, a solution that helps organizations (buying organizations and MSPs) manage sourcing for complex services categories, such as legal, marketing or facilities management. This content is for members only. Visit the site and log in/register to read.

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4 strategic sourcing use cases to strengthen your supply chain

IBM Supply Chain Blog

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. And from that group, 71% would pay a premium for it.

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The AI Advantage: Unlocking New Value for Procurement Teams

World of Procurement blog

This supports strategic sourcing efforts. Monitoring supplier relationships : AI can track supplier performance metrics, analyze contract terms for risks, and identify opportunities to improve supplier relationships. This maximizes value from sourcing partnerships. This enables more accurate planning.

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Intake & Procurement Process Orchestration (2024 Guide)

Procurement Software

Enhanced Efficiency and Visibility: By adopting process orchestration tools and platforms, businesses gain real-time insights and control over their procurement activities, facilitating quicker decision-making and improved risk management. It begins the process of integrating various parts of the business to work cohesively.

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Streamlining supply chain management: Strategies for the future

IBM Supply Chain Blog

Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics. Advanced software tools can automate some parts of forecasting, providing real-time updates and alerts when inventory levels are too high or low.

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New Year Insights for the procurement solutions and services marketplace 2024: GEP

Spend Matters

Today, for procurement organizations too, applying an AI-first approach has become imperative, especially in the source-to-pay process. Generative AI, in particular, offers transformative potential in optimizing source-to-pay processes. And the maximum value can be extracted from these new tools through strategic integration.