ivalua

JULY 15, 2015

Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 147

Jaggaer

FEBRUARY 5, 2025

What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Pipefy

MAY 22, 2024

A brief introduction to total cost of ownership (TCO) Total cost of ownership refers to all of the expenses that are incurred when purchasing, implementing, deploying, maintaining, and using a product, tool, or equipment. This also includes any time costs associated with downtime, training, or other productivity losses.

Cost of ownership 52

Cost of ownership Purchasing supply chain software solutions Supply Chain Optimization 52

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

Skill Dynamics

APRIL 24, 2025

It sends shockwaves through sourcing, supplier relationships, profitability, and operational decision-making. Another shared: We rerouted our sourcing strategy in a week – because our supply chain leads were trained for scenario planning. Sourcing strategies collapsed because no one planned for this.

Strategy 82

Strategy Agile and Lean Supply Chain Cost of ownership Supply chain 82

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. In doing so, procurement professionals are ascending the corporate stairs to have a more visible seat in their business’s strategic sourcing. Strategic sourcing best practices. Here are four best practices for strategic sourcing: 1. Strategic sourcing is similar.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

FEBRUARY 25, 2021

For example, a single-stack approach can lead to low user adoption, because the incumbent sourcing solution, for example, fails to meet the needs of various business units. . Total Cost of Ownership, ERP appears to be cheaper, but is it? What is the benefit of using a single source to pay solution?

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

ivalua

MARCH 18, 2021

Solution deployed in 10 days to improve direct material sourcing, increasing profitability. The platform was configured in 10 business days to deliver rapid value in the sourcing of direct materials. The platform was configured in 10 business days to deliver rapid value in the sourcing of direct materials.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Buyers 130

Procurement Insights

JANUARY 3, 2025

20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. Emphasis shifted from pure cost savings to total cost of ownership (TCO) and value creation.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

SCMDOJO

APRIL 11, 2025

Struggling with the true cost of ownership or serving your customers? A lower TCO indicates better value sourcing, even if the initial purchase price isn’t the absolute lowest. It helps you understand the true cost impact of procurement decisions. Do you rely on a single source for critical items?

Supply Chain KPIs 61

Supply Chain KPIs Supply Chain Efficiency Agile and Lean Supply Chain supply chain software solutions 61

SCMDOJO

JULY 3, 2023

Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management. Throughout this course, you will gain valuable knowledge and practical insights on various aspects of the sourcing process in procurement.

Cost of ownership 98

Cost of ownership Procurement Category management supply chain software solutions 98

Procurement Tactics

SEPTEMBER 7, 2022

Procurement, in simple terms, is the act of sourcing and acquiring services or goods for the organization to run. . The total cost of ownership. Life cycle costing. Organizations can also be saved from the economic costs of disruptions in sustainable procurement such as noncompliance with environmental organizations.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

Procurement Tactics

MAY 2, 2023

Environmental benefits Reduction in Energy Consumption Reduction of waste Reduce carbon emissions Improve resource efficiency Limits the negative impacts of purchasing from non-certified sources Restoration of biodiversity Protection of wildlife 2.

Sustainability 204

Sustainability Procurement strategies Negotiation Ethics 204

Procurement Tactics

APRIL 3, 2023

Additionally, moving towards more renewable sources of energy reduces the dependency on using fossil fuels as well as helps reduce carbon emissions. Other environmental benefits include: Reduction in Energy Consumption Limits the negative impacts of purchasing from non-certified sources Restoration of biodiversity Protection of wildlife 2.

Sustainability 183

Sustainability Procurement Supply Chain Efficiency Procurement strategies 183

Una

MAY 10, 2023

In this episode of The Sourcing Hero podcast, Host Kelly Barner welcomes Cory Connors. Efforts to increase operational sustainability are gaining steam worldwide, which means that what that packaging is made of and what happens to it after a delivery has been made are of greater concern than ever before.

Sustainability 98

Sustainability Cost of ownership Supply chain Sourcing 98

Procurement Leaders

FEBRUARY 26, 2024

This in turn would mean that all procurement, sustainability, and R&D decisions are made on a total sustainable cost of ownership basis with the ultimate goal of delivering long term, sustainable customer value. It’s a tantalising future, but one that Mars Wrigley has clearly acknowledged as an underexploited source of value.

Cost of ownership 130

Cost of ownership Agile and Lean Supply Chain Sustainability Procurement team 130

Procurement Templates

SEPTEMBER 14, 2023

Procurement, traditionally seen as a function focused on sourcing goods and services at the best possible prices, has now evolved into a strategic driver for sustainability. It has the potential to drive change throughout the entire supply chain, influencing how products are sourced, manufactured, and distributed.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Arkestro

NOVEMBER 12, 2024

Today’s procurement challenges go far beyond cost negotiations and sourcing. Businesses must now navigate sustainability, risk management, and total cost of ownership (TCO)—which now are shifting more spend into the “defer” or “ignore” buckets. Arkestro introduces a templatized, embedded approach to sourcing events.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52

Spend Matters

MAY 8, 2025

What is the full cost assessment over time? Cost considerations should extend beyond initial pricing to include total cost of ownership. Many organizations overlook hidden costs, such as implementation fees, maintenance and integration expenses.

Procurement 63

Procurement Cost of ownership Stakeholder engagement Contract 63

Procurement Tactics

SEPTEMBER 21, 2022

Businesses of all sizes need to save money and reduce costs as much as possible. Sustainability in procurement helps reduce the total cost of ownership through the reduction of energy costs, minimized consumption, over-specification, and environmental and social compliance cost. Risk reduction. LEARN MORE.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

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

Jaggaer

APRIL 24, 2025

We have to think about how we measure value in the supply chain; according to Loris research, only 29 percent of companies can easily calculate the total cost of the commodities they are buying. Total cost of ownership (TCO) is cross-functional, time-based, often qualitative, and poorly supported by existing systems.

Demand 52

Demand Logistics Real-time Visibility Supply Chain Optimization 52

Empowering CPO

FEBRUARY 11, 2024

Introduction In the ever-evolving landscape of procurement, organizations are turning to strategic sourcing services to navigate the complexities and achieve sustainable success. At EmpoweringCPO, we understand the pivotal role it plays in optimizing the supply chain, reducing costs, and fostering long-term competitiveness.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

ivalua

MAY 28, 2014

In sourcing, successful manufacturers exploit all available information and analytics to make informed, strategic decisions in support of future success. The Cloud: Gartner stated that in 2013 cloud adoption rose by 40%, driven by the low total cost of ownership, which reduced both infrastructure and overall maintenance costs.

Supply Chain Optimization 100

Supply Chain Optimization Innovation Supply chain Cost of ownership 100

Procurement Tactics

APRIL 5, 2023

Furthermore, it shows that businesses are aware of their future impacts and consider them before sourcing and making their products. Additionally, adopting sustainability in procurement allows businesses to lead in reversing the damage done to the earth.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

SCMDOJO

SEPTEMBER 19, 2024

As a procurement officer, you’ve possibly been in the crosshairs of debate between sourcing locally and regionally versus from low-cost countries endorsed by many executive staff and boards of directors. Every time I was requested to have a target percentage of our purchases from low-cost countries I felt a pit in my stomach.

Price 98

Price Suppliers Cost of ownership Quality 98

Jaggaer

DECEMBER 13, 2024

The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supply chain management, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.

Sourcing 52

Sourcing Contract Procurement Chief Procurement Officer 52

TYA Suite

MAY 13, 2025

How it works: Instead of sourcing from many suppliers, you concentrate your orders with fewer suppliers, often leading to discounts. Total Cost of Ownership (TCO) Approach What it is: Instead of just focusing on the purchase price, consider all associated costs like maintenance, transportation, and disposal.

Strategy 40

Strategy Import Procurement Raw materials 40

Procurement Tactics

SEPTEMBER 15, 2022

Use the Total Cost of Ownership (TCO) approach when buying. A total cost of ownership assessment adds the financial costs over a product or service’s life cycle. This course is a perfect fit for ambitious procurement & sourcing professionals. Negotiation Gamechanger Certificate Program. LEARN MORE.

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 130

Skill Dynamics

APRIL 24, 2025

While each has its own responsibilities, both share a common goal: ensuring that the organization has what it needs, when it needs it, at the right cost and quality. Procurement professionals focus on sourcing goods and services, negotiating with suppliers, and managing contracts.

Supply chain management 52

Supply chain management Supply chain management Supply Chain Efficiency Supply Chain Optimization 52

Planergy

MAY 8, 2025

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Predictive tools help teams flag supplier vulnerabilities early and make smarter sourcing decisionsleading to a 20% improvement in risk management outcomes.[7] How to gain visibility and control of your indirect spend.

Strategy 52

Strategy Real-time Visibility Procurement Agile and Lean Supply Chain 52

ivalua

OCTOBER 28, 2015

This includes sourcing, supply chain, logistics, product management, and even key senior executives. This includes total cost of ownership data, detailed supplier profiles, and external business intelligence. Create a specific data map. See below for examples. Create a collaborative information analysis process.

Suppliers 100

Suppliers Cost of ownership Price Collaboration 100

SCMDOJO

MARCH 14, 2025

Identify the Lowest Evaluated Bidder / Best Value Proposal Select based on cost and additional benefits. Consider total cost of ownership (TCO) rather than just initial cost. Best Practices: Use weighted financial models instead of lowest-price-only selection. Conduct sensitivity analysis to assess price reasonability.

Bidding 54

Bidding Contract Contract management Price 54

Planergy

FEBRUARY 24, 2025

Prioritize Total Cost of Ownership (TCO) TCO goes far beyond the initial purchase price, considering the entire lifecycle of an asset or service. Measuring Procurement Effectiveness Key performance indicators for educational procurement include: Cost Savings Percentage: Its not about spending less but the value for money.

Procurement 52

Procurement Supply Chain Efficiency supply chain budgeting Budget 52

Strategic Sourceror

JULY 11, 2022

Every once in a while, a supplier is the single source for the materials you need. What will be your total cost of ownership to partner with another supplier? Total cost of ownership refers to the estimation of overall expenses for developing a given product when factoring in all of the process aspects that go into its creation.

Suppliers 57

Suppliers Cost of ownership Supply Chain Efficiency Strategic sourcing 57

Spend Matters

JANUARY 8, 2024

There has also been a growing appreciation that, when done intelligently, buying closer to home can not only ensure greater reliability of supply and higher flexibility, but also be more cost-effective in terms of Total Cost of Ownership. Circular supply models and inclusive chains are gaining importance.

Procurement solutions 102

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 102