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4 strategic sourcing use cases to strengthen your supply chain

IBM Supply Chain Blog

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. And from that group, 71% would pay a premium for it.

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4 smart technologies modernizing sourcing strategy

IBM Supply Chain Blog

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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The Disruptive Power of Digital Procurement

Una

Strategic sourcing experts are using machine learning to categorize and manage spend, AI to better predict demand, and act upon alerts such as contract expiry/renewals. How to Improve Strategic Supplier Relationship Management. How to Optimize Your Spend with a Strategic Sourcing Process.

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What Is the Source-to-Pay (S2P) Process?

Pipefy

Typically, the source-to-pay process is used to fulfill needs like finding new suppliers that offer lower prices, better terms, or goods/services not offered by current suppliers. Demand or need established Whether it’s a purchase request or forecasted demand, a need for a product, good, or service is required In order to begin sourcing.

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The Market Speaks: Procurement practitioner requirements and the tech vendor response — SAP

Spend Matters

Strategic sourcing remains critical, especially given our inflationary environment. Are you witnessing a shift in demand towards more ESG and supply chain risk capabilities? A recurring request is to reduce risk and contain costs. Yes, there has undoubtedly been a shift.

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Procurement Tracking – Everything You Should Know

Procurement Tactics

These tools allow for automated, integration to suppliers and visibility in procurement data at any time. Furthermore, it enables businesses to implement strategic sourcing practices, strengthen their suppliers, and bargain volume of discounts through monitoring expenditure patterns and identification of cost drivers.

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The 25 Hottest US Procurement Startups

Procurement Software

Their platform also offers thorough spend intelligence, allowing for in-depth strategic sourcing. It is optimised for sourcing raw materials and purchased parts in manufacturing businesses. Additionally, analytics features grant you deeper visibility into your supply chain.