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Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

MAY 8, 2024

It involves identifying needs, sourcing potential vendors, obtaining quotes and proposals, negotiating contracts, selecting suppliers, managing relationships, and meeting obligations. In summary, procurement is a strategic function focused on maximizing value, reducing costs, and building competitive advantage.

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: Streamlined service request handling Centralized knowledge base access Enhanced customer satisfaction and loyalty Financial management BPM is used to streamline financial processes such as budgeting, forecasting, expense management, and financial reporting.

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