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Strategic Sourcing + Smart Solutions: The Unbeatable Duo for Procurement Success

SCMDOJO

Moreover, early supplier involvement in product development helps businesses reduce time-to-market, improve product quality, and lower costs. Studies show that involving suppliers early can reduce development costs by 10-20%.

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Direct vs Indirect Procurement: Key Differences, Challenges, and Opportunities

ivalua

Who Owns It in the Enterprise Typically, direct procurement is managed by supply chain or operations teams. These teams work closely with product development, engineering, and quality assurance functions to ensure that the sourced materials meet precise specifications and production timelines.

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My Interview With The Economist

Procurement Insights

Increased Supplier Innovation : Collaboration with suppliers fosters innovation, such as faster product development, cost reduction ideas, and improved logistics solutions, selected by 38% of respondents. Faster Time-to-Market : Collaboration streamlines processes, enabling quicker delivery of products and services.

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Supplier collaboration software: A full overview

TYA Suite

Stronger risk management and supply chain resilience Effective collaboration provides greater visibility into potential risks, such as raw material shortages or market disruptions. Collaborative product development helps create innovative solutions and ensures that products meet both quality standards and market demands.

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A complete guide to operational procurement

TYA Suite

This strong internal engagement helps align with overall business objectives, ensuring that procurement activities contribute to broader goals such as cost reduction, operational efficiency, or product development. As a result, procurement becomes not just a function, but a core driver of business strategy.

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Bezos? Jeff Bezos? What does he have to do with anything related to procurement and supply chain?

Procurement Insights

– Anticipation of Outcomes: Both frameworks seek to anticipate future developments—Hansen through systemic vulnerabilities, Bezos through customer needs and business trends. This is especially applicable in risk management, policy planning, and industries subject to complex, interconnected disruptions.

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Navigating trade turbulence: What tariffs are really exposing in Procurement

Spend Matters

As defined in Spend Matters four-part series , DFS is a cross-functional discipline that brings procurement and supply chain thinking into the product development process. Vendors that previously focused on sourcing or contracts are expanding into supply chain visibility, risk management and even design collaboration.