World of Procurement blog

MAY 8, 2024

It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. Sourcing : Procurement uses competitive bidding, e-sourcing, and supplier development. What is Procurement?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

IBM Supply Chain Blog

FEBRUARY 19, 2024

Here’s how companies are using different strategies to address supply chain management and meet their business goals. Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics.

supply chain software solutions 88

supply chain software solutions Supply chain management Supply chain management Supply Chain Efficiency 88

Empowering CPO

JUNE 26, 2023

By analyzing historical spend patterns and supplier performance, organizations can negotiate better contracts, consolidate suppliers, and implement strategic sourcing initiatives. Improved Compliance and Risk Mitigation Data-driven insights help organizations identify potential risks and ensure compliance with regulatory requirements.

Real-time Visibility 40

Real-time Visibility Supply Chain Efficiency Supply Chain Optimization Collaboration 40

Empowering CPO

JUNE 27, 2023

Risk Mitigation: Category spend analysis helps identify potential risks associated with suppliers, such as single-source dependencies, supplier stability, or non-compliance issues. By proactively addressing these risks, organizations can minimize disruptions and ensure a reliable supply chain.

Procurement 40

Procurement Supply Chain Optimization Supplier consolidation Suppliers 40