article thumbnail

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.

article thumbnail

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.

Sourcing 102
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

e2e 67
article thumbnail

Rev Group Partners with Consus Global to Drive Supply Chain Efficiencies

ivalua

REV Group embarked on its sourcing and procurement transformation earlier this year, which included four appointments to REV’s global sourcing and supply chain team, representing the Fire & Emergency, Commercial and Recreation segments. Benefits include: Shortened sourcing cycle times. 100% visibility of sourcing processes.

article thumbnail

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

Pipefy

One of the tactical processes leveraged to realize strategic goals is the source-to-pay process. Here’s everything you need to know about source-to-pay, from what it looks like in practice to how source-to-pay automation can improve procurement efficiency. When is source-to-pay used?

article thumbnail

Procure-to-Pay (P2P) vs. Source-to-Pay (S2P)

Procurement Software

Procure-to-Pay (P2P) and Source-to-Pay (S2P) are not just fancy acronyms used by consultants, procurement and finance professionals. Behind these terms are whole concepts of processes that manage how goods and services in your business are requested, sourced, received and paid. What steps are involved in Source-to-Pay?

article thumbnail

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

Strategic Sourceror

Leaders are prompted to seek more robust solutions— while lowering costs —and find that a comprehensive source-to-pay (S2P) platform is the answer. 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.

e2e 52