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Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

MAY 8, 2024

Contract Negotiation After selecting the best supplier, the procurement team negotiates final contract terms like pricing, service levels, delivery timelines, warranties, and other legal and commercial conditions. Order Fulfillment Once a contract is signed, the supplier begins delivering goods or services as per the agreement.

Strategic sourcing 52
Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52
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Business process management (BPM) examples

IBM Supply Chain Blog

APRIL 4, 2024

Benefits: Automated claim processing Reduced processing times Enhanced visibility Compliance and risk management By automating routine tasks and implementing predefined rules, BPM enables timely compliance with regulatory requirements and internal policies.

Real-time Visibility 59
Real-time Visibility Management e2e Supply Chain Efficiency 59
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