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Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations.

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2022 Logistics and Supply Chain Management Trends

EazyStock

Consequently, companies are becoming more focused on anticipating, reacting to, and planning for the unexpected through their supply chain strategies. In 2022, key supply chain management trends all lean towards building supply chain resilience. Supplier Diversification.

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4 Predictions on Procurement’s Top Trends in 2023

Arkestro

Reducing supplier risk. Ensuring continuity of supply. This, coupled with the typical 30-plus years’ experience procurement veteran approaching retirement, companies are seeing their tribal knowledge about suppliers and processes walk out the door and not be replaced.”. scenario-driven demand plans. Reducing spend.

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Technology Support in Integrated Business Planning: Automation, Augmentation and Human Centricity

Supply Chain Trend

Strategic planning–often for 3-5 years out–creates the initiatives to realize the vision (the What) as well as to promote the values and behaviors to display (the How). The budget, or annual operating plan, is normally the first year of the strategy. IBP ENVIRONMENT.

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ERP vs. Best-in-Class — What is Best for Managing the Healthcare Supply Chain

ivalua

Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain risk management in healthcare and improved patient care?