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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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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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Sustainability in Procurement: Strategies and Challenges

ivalua

Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.

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Streamlining supply chain management: Strategies for the future

IBM Supply Chain Blog

Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics. A supply chain control tower can connect many sources of data-driven information and improve end-to-end visibility.

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Procurement Tracking – Everything You Should Know

Procurement Tactics

This includes checking standards of ethics, legal requirements, supplier diversity, and minimizing any risk that may arise in connection with the procurement activities. These tools allow for automated, integration to suppliers and visibility in procurement data at any time.

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How to build a successful procurement strategy

IBM Supply Chain Blog

It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. A balance of talent, technology, compliance, ethics and sustainability is needed to align procurement activities with corporate objectives. Be flexible.

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Zarrin Lilani on How Women Lead in Supply Chain

Let's Talk Supply Chain

Making this hard dichotomy shift isn’t just about good business ethics either. The record talent shortage has been a source of frequent delays and price jumps in recent years. I was presenting the results to Senior leadership when I realized I understood so much about the end-to-end business.