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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.

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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 Dirty Little Secrets in Procurement!

Supply Chain Game Changer

Lack of Visibility Beyond Tier 1. According to the 2021 Deloitte Chief Procurement Officer Survey, “Around 70% of CPOs felt that they had good visibility on the risks that existed in their direct (tier 1) suppliers. And, only 15% had visibility into tier 2 or beyond. Dirty Little Secret #1.

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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. What we do know is that supply chains often account for more than 90% of a company’s environmental footprint, and SAP can help provide visibility into the data across this value chain. A recurring request is to reduce risk and contain costs.

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Procurement Tracking – Everything You Should Know

Procurement Tactics

Invest in Technology Leveraging procurement software or enterprise resource planning ERP systems offering a robust tracking and reporting capability. These tools allow for automated, integration to suppliers and visibility in procurement data at any time.

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Strategic Procurement: What Is Is and Why It’s Essential for Business Resilience 

Pipefy

Strategic procurement leverages data to reduce risks across the entire procure-to-pay process and identify opportunities for long-term and continuous forecasting and optimizations. This also leads to more advantageous strategic sourcing. Why is strategic procurement important?

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How to build a successful procurement strategy

IBM Supply Chain Blog

Policies serve as guidelines for the procurement team, ensuring consistency and adherence to ethical standards. Procurement is no longer an analog process; a growing percentage of it takes place online (e-procurement). Communicate the opportunities these changes bring and explain their benefits for stakeholders.