ProcurePort

JULY 22, 2020

What is strategic sourcing? According to businessdictionary.com strategic sourcing is defined as “A method of managing procurement processes for an organization in which the procedures, methods, and sources are constantly re-evaluated to optimize value to the organization.” The post What is Strategic Sourcing?

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Strategic sourcing Strategic sourcing Sourcing Procurement 130

ProcurePort

JULY 27, 2022

• Strategic sourcing is a practice in procurement that seeks to utilize a single, integrated process for purchasing and supply chain management. So, as opposed to sourcing which is the actual […]. So, as opposed to sourcing which is the actual […].

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. These “back-office” workers were seen primarily as clerical support, entering and tracking purchase orders and researching suppliers. Today, however, the pandemic has shown procurement to be more than simply purchasing goods and services. Strategic sourcing is similar.

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Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

MARCH 18, 2021

Massy, France 18 March , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, and CKS BeNeLux today announced that Punch Powertrain has successfully deployed Ivalua’s platform to support the digital transformation of the strategic sourcing process. Tom Reynolds / Robert Fretwell. 0207 436 0420.

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Strategic sourcing Strategic sourcing Sourcing Buyers 130

ivalua

DECEMBER 7, 2022

The platform gives us and our business colleagues full control of our indirect purchasing operations, allowing us to better measure supplier performance, improve user experience, and boost overall efficiency”. Learn more at www.ivalua.com. Follow us at @Ivalua. Global Media Contact. Corporate Communications media@ivalua.com.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Contract Sourcing 130

SCMDOJO

MARCH 24, 2025

Introduction Gardner, (1954) and Huntzinger, (2007) define Purchase price variance (PPV) as a metric used to measure the effectiveness of cost-saving efforts by calculating the difference between the planned cost (standard pricing) allocated for purchasing activities and the actual cost incurred.

Price 56

Price Purchasing supply chain budgeting Raw materials 56

Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. A RFQ is used for low cost purchases and a PQQ is typically used for higher cost tenders. Can you spot the mistakes!

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Procurement Freelancers

JUNE 10, 2023

To optimise an organisation’s supplier base, procurement experts employ strategic sourcing, a methodical, data-driven strategy.… … The post An Insight Into Strategic Sourcing first appeared on Procurement Blog | Procurement & Supply Chain News.

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Strategic sourcing Strategic sourcing Sourcing Supply chain 95

Procurement Templates

NOVEMBER 21, 2024

Here’s a detailed guide to enhance procurement capabilities across various domains: Strategic Sourcing and Supplier Management Actionable Steps: Analyze Spend Data: Use spend analysis tools to identify areas where costs can be reduced or efficiencies improved. Resources: Online courses on strategic sourcing (e.g.,

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

Procurement Tactics

JUNE 7, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Purchase Price Variance — Everything You Should Know Purchase price variance is an important factor for budget preparation, but why? Price Purchase Variance: What is it? Why is it Important?

Price 130

Price Purchasing Raw materials Negotiation 130

Let's Talk Supply Chain

MAY 19, 2025

Recognized as a trusted and independent source of procurement research, ProcurementIQ offers a comprehensive library of data and analysis on over 1,000 categories.

Purchasing 52

Purchasing Supply Chain Efficiency Data Agile and Lean Supply Chain 52

Spend Matters

MAY 1, 2025

To ensure automation delivers maximum value, procurement teams must first streamline their processes, enforce governance and standardize purchasing behaviors. Integrate procurement with budgeting and contract compliance: Ensure purchases are validated against financial plans and existing contract terms in real-time.

Real-time Visibility 75

Real-time Visibility supply chain budgeting Procurement Supply Chain Optimization 75

ivalua

MAY 30, 2023

By ensuring that the right goods and services are purchased at the right price and delivered on time, procurement can help to ensure that a company or organization achieves its goals. Developing and executing category strategies is critical to effective strategic sourcing.

Eprocurement 49

Eprocurement Procurement Supply Chain Efficiency Supply chain resilience 49

Procurement Tactics

SEPTEMBER 8, 2022

Some referred to it as MRO purchasing which pertains to maintenance, repair, and operations due to its significance to keep the business running. . You may think that this is the same as tactical purchasing. However, it is not true due to the fact that tactical purchasing is focused on short-term transactional activity.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

Una

JANUARY 4, 2023

The Basics of Group Purchasing. Discover the basics of group purchasing and the benefits of working with a group purchasing organization to develop a comprehensive procurement strategy. The basics of group purchasing. Benefits of working with a group purchasing organization. By Mackenzie Oakley | January 5, 2023.

Purchasing 92

Purchasing supply chain budgeting Procurement strategies Contract 92

TYA Suite

APRIL 13, 2025

When your business is small, using spreadsheets or sticky notes to track purchases might seem easy. It saves time, reduces mistakes, and gives you a clear view of all purchases, helping you make better decisions. Once approved, the business selects a trusted supplier, negotiates terms, and sends a purchase order.

Purchasing 40

Purchasing supply chain budgeting Supply Chain Efficiency Real-time Visibility 40

Spend Matters

DECEMBER 17, 2024

For those who do not have robust strategic sourcing to start with, the process efficiency, particularly for order-to-invoice to get the right price, will resonate most (i.e.: On the procurement side, the interest is in the Purchase Request coding for accounting and spend categorization. 2- and 3-way matching).

Procurement 109

Procurement Change management Strategic sourcing Strategic sourcing 109

Procurement Tactics

MARCH 16, 2023

Strategic procurement is a term used to encompass different procurement processes that support the long-term development of an organization. It aims to ensure that the goods and services that the business needs are delivered on time and purchased within the budget. Activities Compromising Strategic Procurement 1.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Una

DECEMBER 6, 2022

8 No-Brainer Reasons to Join a Group Purchasing Organization. 8 Reasons to join a group purchasing organization. We may be biased, but we’d like to add one more important no-brainer to this list: joining a group purchasing organization (GPO). When you join a group purchasing organization, you look like a sourcing hero.

Purchasing 98

Purchasing Procurement strategies Suppliers Risk 98

Spend Matters

FEBRUARY 13, 2025

Utzs Procurement team had never focused on influencing budget owners in the corporate services area to strategically source their categories. These tools helped Procurement to be more effective when engaging with stakeholders in strategic sourcing and competitive bidding activities.

Influencing 105

Influencing Procurement supply chain budgeting e2e 105

Una

OCTOBER 9, 2023

How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. At its core, strategic sourcing formalizes the process of finding, assessing, and choosing suppliers.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Tactics

JANUARY 13, 2023

Additionally, procurement can be done through direct purchase, competitive bidding, or tendering process while ensuring that the delivery of supplies is on time. Procurement is usually associated with businesses as companies need to purchase goods or services in order to run their operations. . Strategic sourcing manager.

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Procurement Chief Procurement Officer Strategic sourcing Strategic sourcing 171

Procurement Tactics

AUGUST 25, 2022

Omid Ghamami is one of the most globally recognized thought leaders in the field of purchasing and sales negotiations. Thereby making him the world’s most sought-after purchasing and supply chain management author, speaker, consultant, and trainer. He is known as “the secret weapon of fortune 500 chief purchasing officers”. .

Procurement 231

Procurement Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain 231

Jaggaer

JULY 4, 2024

Christian Heinrich, Co-Founder and Managing Director, c arbmee The 80% Challenge I was recently delighted to participate in a JAGGAER live webinar focused on the introduction, in recent years, of carbon emissions measurement as a factor in strategic sourcing. The objective of net zero carbon footprint is now familiar.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 59

Spend Matters

OCTOBER 31, 2024

The idea for True ValueHub was born out of the pain points our Founder, Gautam Pasari, experienced first-hand over the years working for various manufacturing companies while leading their strategic sourcing, category management and digital transformation functions. What does it mean to be named a Future 5?

Real-time Visibility 123

Real-time Visibility Supply Chain Efficiency Buyers Supply Chain Optimization 123

Spend Matters

JANUARY 23, 2025

This, given the productivity constraints of modern strategic sourcing teams, means that they often must choose between refining the assumptions and calculations in their model and doing other things, like studying the broader market, building supplier relationships or solving tactical challenges like shortages.

Price 106

Price Negotiation supply chain software solutions Supply Chain Optimization 106

Procurement Freelancers

APRIL 21, 2025

Summary: Digital Procurement Definition: Digital procurement uses technology to automate and enhance sourcing, purchasing, and… The post Digital Procurement: The Future of Strategic Sourcing first appeared on Procurement Blog | Procurement & Supply Chain News.

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Strategic sourcing Strategic sourcing Sourcing Procurement 40

Empowering CPO

FEBRUARY 11, 2024

Introduction In the ever-evolving landscape of procurement, organizations are turning to strategic sourcing services to navigate the complexities and achieve sustainable success. Building Robust Supplier Relationships Successful strategic sourcing extends beyond transactional interactions with suppliers.

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Strategic sourcing Strategic sourcing Sustainability Sourcing 52

Spend Matters

MAY 14, 2025

Strategic sourcing, by contrast, is more tactical. In addition to Cirtuo, Spend Matters has also reviewed akirolabs and Positive Purchasing’s Capella. It involves long-term planning, understanding internal priorities, mapping supply market trends and working closely with stakeholders.

Category management 95

Category management Spend management Management Sourcing 95

Jaggaer

FEBRUARY 20, 2025

Rather than treat procurement as a series of disparate tasks, global organizations in all sectors implement efficiency across the source-to-pay journey. Big data and digital technologies support the aggregation of purchases across business units to improve performance, provide better spend analysis, and drive business value.

Sourcing 52

Sourcing e2e Supply Chain Efficiency Strategic sourcing 52

TYA Suite

NOVEMBER 25, 2024

What is strategic sourcing and how does it work? Strategic sourcing is a method used by businesses to buy goods and services in a way that focuses on long-term value, not just short-term savings. Strategic is about building strong, lasting relationships with suppliers that deliver the best overall value.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

ProcurePort

MAY 27, 2020

Determining how much total money spent in the last year, identifying vendors and managing their relationships, and listing out the various categories of products and services purchased are daunting tasks to any procurement team. Attempting to categorize […].

Procurement 254

Procurement Procurement team Purchasing Management 254

Jaggaer

JULY 10, 2024

What is astounding is the rate at which companies are already adopting carbon pricing into their purchasing strategies and communicating this to their suppliers. Learn more about strategic sourcing: empowering decision-making across disciplines in our on-demand Video: Watch now Find out more at www.carbmee.com

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Strategic sourcing Strategic sourcing Sourcing Bidding 52

Supply Chain Dive

MARCH 26, 2024

Nelson Griffin previously served as SVP of strategic sourcing at a purchasing and services cooperative for Subway franchisees.

Strategic sourcing 109

Strategic sourcing Strategic sourcing Supply chain Purchasing 109

Arkestro

DECEMBER 26, 2024

By automating routine work, procurement professionals can focus on high-impact tasks like strategic sourcing and relationship building with key suppliers. Strategic sourcing prioritizes developing long-term, value-driven relationships with suppliers rather than just chasing the lowest price.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Supply Chain Optimization supply chain budgeting 52

Pipefy

APRIL 22, 2025

Before we talk about making it smarter, its worth reviewing what the source-to-pay journey actually covers. In simple terms, it spans the entire process from identifying a purchasing need to final payment. S2P identifies the purchasing need up to the payment to the supplier.

Sourcing 59

Sourcing Real-time Visibility Procurement e2e 59

Procurement Insights

JANUARY 30, 2024

As you look at the picture below representing the purchasing versus procurement or procurement versus strategic sourcing debate, what is the one big takeaway message for you? Sometimes, an image or picture stimulates more meaningful debate at a gut level than any words could ever do.

Purchasing 59

Purchasing Strategic sourcing Strategic sourcing Procurement 59