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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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Visibility is crucial for supply chains

Strategic Sourceror

For these reasons, many high-end supply chain organizations are investing their money into visibility solutions to get a better handle on their supply chains. Why is visibility so important? Reduced costs Ultimately, visibility boils down into long-term operational efficiency. Brought to you by the StrategicSourceror.

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Are S2P solutions key to monitoring spend and reducing your costs?

Strategic Sourceror

Automate Source-to-Pay Workflow Increase Workflow Automation When S2P solutions are implemented, organizations can increase the automation of their workflow and reduce critical cycle times. The ease of use, simple implementation, and visibility across robust procurement workflows are unmatched with end-to-end platforms.

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Procurement Tracking – Everything You Should Know

Procurement Tactics

Purchase Orders Purchase orders are where the monitoring of the creation and approval of purchase orders comes in. Delivery and Logistics The status of goods and services purchased, such as their delivery timelines, transportation times, or receipt is monitored. The key elements are typically: 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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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. It should be a strategic roadmap that, when effectively designed and implemented, aligns with the mission of the organization and greatly contributes to its success.

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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?