Remove Data Remove Real-time Visibility Remove Strategic sourcing Remove supply chain software solutions
article thumbnail

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.

article thumbnail

7 Spend Analytics Software for Mid-Market Businesses

Procurement Software

Spend analytics software would be the first tech investment I’d make in a greenfield Head of Procurement role. To do this quickly and efficiently, spend analytics software is your best friend. This usually justifies the business case to invest in spend analytics software to categorise this quickly and more easily.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Mitigates risk by selecting reliable suppliers, managing supplier relationships, and ensuring continuity of supply. Provides key data insights through spend analysis that informs strategic decisions. Sources innovation by engaging suppliers in new product/service development.

article thumbnail

The Pivotal Role of Technology in Modern Procurement

World of Procurement blog

From automated systems to data analytics, technology is reshaping procurement, making it more strategic, efficient, and adaptable to changing market demands. This technology significantly reduces manual work, minimizes errors, and speeds up transaction times.

article thumbnail

The Pivotal Role of Technology in Modern Procurement

World of Procurement blog

From automated systems to data analytics, technology is reshaping procurement, making it more strategic, efficient, and adaptable to changing market demands. This technology significantly reduces manual work, minimizes errors, and speeds up transaction times.

article thumbnail

The AI Advantage: Unlocking New Value for Procurement Teams

World of Procurement blog

This frees up procurement professionals to focus on high-value strategic activities. Analyzing spend data : AI tools can quickly categorize expenses, identify spending patterns and trends, pinpoint areas of overspending, and generate actionable insights from vast amounts of procurement data. This enables more accurate planning.

article thumbnail

Role-Based Training for Procurement & Supply Chain Teams

Skill Dynamics

This leads to professional growth and supply chain efficiency – just two benefits of role-based training , of which there are many more. Elevating Procurement Excellence Through Targeted Training Role-based procurement training is ideal because procurement and supply chain roles often come with role-specific challenges.