Remove e2e Remove Real-time Visibility Remove Risk Remove Strategic sourcing
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4 strategic sourcing use cases to strengthen your supply chain

IBM Supply Chain Blog

Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals. Sourcing and procurement professionals operating with a strategic sourcing mindset assess a supplier’s quality, reputation and service.

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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 AI Advantage: Unlocking New Value for Procurement Teams

World of Procurement blog

This supports strategic sourcing efforts. Monitoring supplier relationships : AI can track supplier performance metrics, analyze contract terms for risks, and identify opportunities to improve supplier relationships. This maximizes value from sourcing partnerships. This enables more accurate planning.

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Intake & Procurement Process Orchestration (2024 Guide)

Procurement Software

By embracing a strategic approach to procurement, you can streamline operations, mitigate risks, and foster stronger supplier relationships. By meticulously handling the procurement intake, businesses lay the foundation for better end user adherence to procurement policies. What is procurement intake?

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The 25 Hottest US Procurement Startups

Procurement Software

Multi-functional technology enables you to train anywhere at any time, while ever-learning programming allows you to experiment and practice to achieve different outcomes. LavenirAI allows you to train anywhere, any time, so you can stay at the top of your game.

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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. As Deloitte points out, this shifts the whole approach of SRM from damage control to proactive risk mitigation. Better customer service.

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Spend Analysis: Unlocking Powerful Business Insights

Pipefy

Visibility into procurement categories and effective management of categories fosters benefits like greater risk management and less costly supplier redundancies. Spend analysis is necessary for strategic sourcing. Spend analytics creates the visibility procurement teams need to complete a spend analysis.