IBM Supply Chain Blog

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 83

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 83

ivalua

OCTOBER 4, 2021

Redwood City, CA, 4th October, 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Crelan, a cooperative Belgian bank, has selected its platform to digitize the entire source-to-contract process. The post Crelan Digitizes Strategic Sourcing with Ivalua appeared first on Ivalua.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 130

Una

AUGUST 31, 2023

Overcoming Challenges with Strategic Sourcing for SMEs Explore how strategic sourcing for SMEs can help procurement professionals overcome the unique challenges of operating a small business. Data-driven decision making For many organizations, the number-one way to “get strategic” is through data-driven decision-making.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 52

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Una

AUGUST 21, 2023

The Human Factor in Strategic Sourcing How to allow for the human factor in strategic sourcing to drive the success of procurement process optimization and cost efficiency efforts. Strategic sourcing in procurement would be so easy if people weren’t involved!

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Ethics 52

ivalua

NOVEMBER 27, 2019

So what does “good” strategic sourcing look like? The primary difference between Strategic Sourcing and “good” Strategic Sourcing is contextualized flexibility. If Procurement follows a Strategic Sourcing process flow like a checklist, then all Strategic Sourcing projects will start and end in the same way.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Suppliers 147

ProcurePort

APRIL 13, 2021

Two of the most common supplier-management strategies in the history of procurement are category management and strategic sourcing. The post Category Management vs Strategic Sourcing – Breaking Down the Differences appeared first on ProcurePort Blog. Both are valid options of developing […].

Strategic sourcing 130

Strategic sourcing Strategic sourcing Category management Sourcing 130

All Things Supply Chain

MARCH 16, 2022

With the advent of COVID-19 pandemic, supply chains and demand have been massively disrupted and are causing inventory issues, unclear delivery reliability, and a significant risk in single-source supplier circumstances.…

Strategic sourcing 250

Strategic sourcing Strategic sourcing Sourcing Inventory 250

Procurement Tactics

MARCH 23, 2023

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Source-to-Contract — The Ultimate Guide Source-to-contract is an important process in procurement. If you want to know about source-to-contract, then this is for you!

Contract 156

Contract Sourcing Purchase orders Bidding 156

Empowering CPO

JANUARY 28, 2024

At EmpoweringCPO, we excel in Strategic Sourcing Outsourcing , a methodical approach to procurement that emphasizes data-driven decision-making, market intelligence, and innovative procurement analytics tools. Essential Tips and Tricks: Data-Driven Decision-Making: The foundation of successful Strategic Sourcing lies in data.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Optimization 40

Empowering CPO

JUNE 22, 2023

Introduction Welcome to our complete guide on the role of spend analysis in strategic sourcing. In the ever-evolving world of business, strategic sourcing has become a linchpin in corporate success. But how do we fuel the engine of strategic sourcing? Spend analysis is the catalyst for strategic sourcing.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Future Purchasing

OCTOBER 4, 2022

Value is usually secured via three implementation routes – internal business change, supplier management and sourcing. In contrast, strategic sourcing is the process used by Procurement teams to source products and services for the business. Data gathering focuses on spend analysis and supply market research.

Category management 59

Category management Strategic sourcing Strategic sourcing Sourcing 59

Procurement Tactics

AUGUST 23, 2022

Contract Management Process — Everything You Should Know. The contract management process is an essential part of the organization to handle contracts with its third parties. For this article, we will talk about what the contract management process is. So without further ado, let’s start uncovering contract management. .

Contract management 130

Contract management Contract supply chain software solutions Management 130

ivalua

JULY 22, 2015

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Supplier consolidation 147

Empowering CPO

DECEMBER 14, 2020

To answer this question, it is much simpler first to list down the reasons as to when a specific category should be taken up for Strategic Sourcing. This helps a procurement organization to list down its plan for the New Year and identify categories that should be taken up for sourcing. Once every year is the right frequency.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 52

Spend Matters

AUGUST 4, 2022

Instead, efforts should be focused on implementing a new, multi-step sourcing approach that: Ramps up the volume of available resources to complete projects in unprecedented time frames. Negotiates unit pricing contracts with partners to support 2022 goals.

Strategic sourcing 82

Strategic sourcing Strategic sourcing Sourcing Risk 82

CPO Rising

MARCH 10, 2023

The Best-in-Class contract management approach is multi-tiered, relying on an interconnected series of capabilities that ultimately drive visibility and insights and are founded on repeatable principles via the standardization, automation, and linkage of key processes (e.g.,

Contract 52

Contract Strategic sourcing Strategic sourcing Contract management 52

ivalua

SEPTEMBER 20, 2021

Rapid Optimization of Contract Management, Supplier Management and Direct Materials Sourcing. Asian Paints conceptualized a technology solution using Ivalua’s Supplier Information Management , Sourcing and Contract Management solutions to streamline the end-to-end contract management and sourcing processes. .

Contract 130

Contract Collaboration Sourcing Contract management 130

Procurement Software

SEPTEMBER 26, 2023

There is a distinct and significant different between Source-to-Contract (S2C) and Source-to-Pay (S2P). If we look at it in terms of software, there are significant differences between the features offered by Source-to-Contract software solutions vs. Source-to-Pay suites. What is Source-to-Contract?

Sourcing 59

Sourcing Contract Competitive bidding Bidding 59

IBM Supply Chain Blog

FEBRUARY 28, 2024

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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Sourcing Strategy Supply Chain Efficiency e2e 100

ProcurePort

JANUARY 26, 2021

The post Source to Contract: What does it mean? Yet, even still; depending on the context, the setting, even the niche-market, terminology, and jargon create new language constantly. Understanding the […]. appeared first on ProcurePort Blog.

Contract 130

Contract Sourcing Strategic sourcing Strategic sourcing 130

ivalua

DECEMBER 21, 2021

Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplier data foundation.

Contract 130

Contract Sourcing Suppliers Data 130

Procurement Tactics

MARCH 16, 2023

Additionally, it involves a careful analysis of supplier selection, payment terms, contract negotiation, and acquisition of goods. Strategic procurement is data-driven and uses a combination of tools and techniques that go far beyond unit price reduction. It can also help you with contract management and compliance processes.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Procurement Templates

JUNE 18, 2023

Develop your ability to articulate ideas, build relationships with stakeholders, and negotiate contracts and agreements. These courses cover topics such as strategic sourcing, supplier management, contract negotiation, procurement analytics, and risk management.

Leadership 147

Leadership Procurement Agile and Lean Supply Chain Supply Chain Efficiency 147

Procurement Software

MARCH 11, 2022

Existing service contracts are often a great place to start if you need to get some quick wins. You don’t have time, resources or expertise to do full-blown tenders for key supplier contracts? You’re relatively early into a poorly negotiated multi-year contract that you weren’t involved in, with no opportunity to terminate it?

Contract 52

Contract Contract management Negotiation Supplier relationship management 52

Procurement Software

MARCH 11, 2022

Existing service contracts are often a great place to start if you need to get some quick wins. You don’t have time, resources or expertise to do full-blown tenders for key supplier contracts? You’re relatively early into a poorly negotiated multi-year contract that you weren’t involved in, with no opportunity to terminate it?

Contract 52

Contract Contract management Negotiation Supplier relationship management 52

Procurement Tactics

JUNE 7, 2023

Effective Strategic Sourcing Strategic sourcing can have a positive impact on purchase price variance by helping companies to improve their procurement processes and negotiate better prices with suppliers. Sustainable Procurement Course Maintain profitability while moving toward sustainability 4.

Price 130

Price Purchasing Raw materials Negotiation 130

Procurement Tactics

SEPTEMBER 8, 2022

Additionally, it should not be confused with strategic sourcing which is more focused on the long-term approach. Strategic sourcing promotes the timely supply of goods or services that are needed to meet the objectives of an organization. . Selecting a supplier that best suits you. How can Companies Benefit From it?

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

The Good Spending

JANUARY 4, 2023

Its two dimensions suggest the flat Earth approach with insufficient room to cater to the complexities of modern category management and strategic sourcing situations. The Strategic Sourcing Matrix Let’s start with the classical view, which is the adapted Strategic Sourcing matrix.

Strategic sourcing 97

Strategic sourcing Strategic sourcing Agile and Lean Supply Chain Category management 97

ivalua

JULY 21, 2021

As part of the partnership with Consus, REV has implemented Ivalua, a leading provider of global Spend Management Cloud solutions, to achieve a more focused and faster source-to-contract cycle. Benefits include: Shortened sourcing cycle times. 100% visibility of sourcing processes. Enforcement of procurement compliances.

Supply Chain Efficiency 130

Supply Chain Efficiency Supply Chain Optimization Supply chain Competitive bidding 130

Una

JULY 25, 2023

Can’t we just sign the contract and then deal with any issues as they emerge? The first three KPIs we suggest every procurement team should monitor are: Defect rates Lead time Contract compliance Can you guess what the other four KPIs will be? Where Does Procurement Belong in the Organizational Hierarchy?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Procurement Category management 52

CPO Rising

AUGUST 15, 2022

Our “Procurement Experts on CPO Rising” series continues today with an excerpt from my 2021 episode of the Procurement Rising Podcast — Ian Maher, former Vice President and Head of Strategic Sourcing for Global Atlantic Financial Group (click to listen to the full interview). Note that this excerpt has been edited for readability.

Contract 52

Contract Strategic sourcing Strategic sourcing Procurement 52

Procurement Templates

JUNE 18, 2023

Here are some strategies and practices that can be implemented: Long-term contracts: Procurement teams can negotiate long-term contracts with suppliers that include price adjustment mechanisms. Strategic sourcing: Adopting strategic sourcing practices enables procurement to analyze the entire supply chain and identify cost drivers.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

Empowering CPO

FEBRUARY 23, 2024

Procurement teams can proactively manage inventory, negotiate contracts, and mitigate risks. AI algorithms categorize expenses, identify cost-saving opportunities, and recommend strategic sourcing initiatives. Real-time dashboards provide insights into supplier performance and contract compliance.

Procurement 52

Procurement Ethics Agile and Lean Supply Chain Supply Chain Optimization 52

Empowering CPO

FEBRUARY 20, 2023

As is true the objective of every strategic sourcing project is to reduce the total cost of ownership. The question is not only about the pricing evaluation methodology, it has to begin at the start of the strategic sourcing process, the important part also is the actual preparation of the pricing worksheet.

Price 52

Price Cost of ownership Strategic sourcing Strategic sourcing 52

Spend Matters

APRIL 4, 2024

Contract lifecycle management LexCheck gives procurement departments access to very specific redlines without needing to consult legal users by returning contract reviews based on company-specific playbooks to mitigate risk.

Procurement 85

Procurement Risk management Raw materials supply chain software solutions 85

Procurement Leaders

JUNE 20, 2023

As such, we tend to see the maturity of categories evolve as the business gradually realises the value of strategic sourcing. Where goods can be easily bundled into larger contracts, the business relinquishes control to procurement to leverage the opportunities of scale. This often occurs in a (relatively) consistent order.

Procurement team 147

Procurement team Procurement Influencing Buyers 147