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.

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Una

AUGUST 21, 2023

The Human Factor in Strategic Sourcing How to allow for the human factor in strategic sourcing to drive the success of procurement process optimization and cost efficiency efforts. It’s a reminder that even the most carefully laid plans must allow for the human element, or risk derailment.

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ivalua

DECEMBER 7, 2022

Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk and improving employee productivity. Learn more at www.ivalua.com. Learn more at www.ivalua.com. Follow us at @Ivalua. Global Media Contact.

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Empowering CPO

JANUARY 28, 2024

At EmpoweringCPO, we excel in Strategic Sourcing Outsourcing , a methodical approach to procurement that emphasizes data-driven decision-making, market intelligence, and innovative procurement analytics tools. Essential Tips and Tricks: Data-Driven Decision-Making: The foundation of successful Strategic Sourcing lies in data.

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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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Future Purchasing

OCTOBER 4, 2022

Category management is the strategic end-to-end process for managing categories of related supplier spend that aligns business goals and requirements with supply market capability. Value is usually secured via three implementation routes – internal business change, supplier management and sourcing. Business requirements.

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Empowering CPO

JUNE 22, 2023

Introduction Welcome to our complete guide on the role of spend analysis in strategic sourcing. In the ever-evolving world of business, strategic sourcing has become a linchpin in corporate success. But how do we fuel the engine of strategic sourcing? The answer lies in the powerful tool of spend analysis.

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ivalua

JULY 15, 2015

Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.

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ivalua

JULY 22, 2015

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.

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Spend Matters

AUGUST 4, 2022

Categories: Sourcing , Sponsored Article , Supply Management Tags: Sponsored Article When it comes to wildfire risk, sourcing can play a key role in mitigating potential disasters. Develops a long-term sourcing strategy for undergrounding programs and creating deep and lasting partnerships. Read more. ).

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ivalua

AUGUST 16, 2021

A checklist guide to getting the most out of your supplier risk management program. This reliance can increase supplier risk or uncover a large source of value and supplier innovation for organizations. . Objectives for Supplier Risk and Performance Management. Assess and mitigate risk across the supply chain.

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ivalua

JUNE 26, 2023

Vishal Patel and Peter Hunt delivered their session ‘Creating Value with Strategic Sourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to category management and strategic sourcing. The answer is simple – automation.

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ivalua

NOVEMBER 19, 2015

If you happen to be a strategic sourcing professional within the manufacturing industry, you probably are experiencing many challenging days at the office. For manufacturers, sales, marketing, finance, ops, and even risk and compliance all have upside. The post Want to be a Strategic Sourcing Rising Star?

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ProcurePort

OCTOBER 20, 2023

• Opting for procurement services offers cost savings through improved negotiations, volume discounts, and strategic sourcing, along with significant time efficiency gains and streamlined processes.

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Spend Matters

JUNE 20, 2023

This content does not express the views or opinions of Spend Matters In our previous installment on Spend Matters, we discussed the rapid evolution of Supply Chain Risk Management happening within procurement organizations. But what is procurement’s role in managing something as technologically complex as cyber risk across the supply chain?

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ProcurePort

JULY 7, 2021

Are you thinking of developing a new sourcing risk management plan? Wondering how to better mitigate supply chain risk when sourcing? Or just keen to explore some of the best risk management practices Chief Procurement Officers (CPOs) can adopt? You see, risk management […].

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Bonfire

MARCH 17, 2023

Our panelists included: Hend Salem , Manager of Strategic Sourcing – Non Clinical at The Ottawa Hospital Carol Izzio , Director of Procurement at Sheridan College Christine McParland , Director of Residence and Ancillary Services at St. Do others understand the risks associated with not following policy and procedures? “We

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World of Procurement blog

APRIL 23, 2024

Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

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World of Procurement blog

APRIL 23, 2024

Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

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IBM Supply Chain Blog

FEBRUARY 28, 2024

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.

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World of Procurement blog

APRIL 24, 2024

This approach fosters collaborative planning, allowing procurement professionals to contribute insights on market trends, supplier innovation potential, and risk management early in the decision-making process. By doing so, we ensure alignment with the organization's strategic goals, thereby enhancing value delivery. A: Absolutely.

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Strategic Sourceror

JUNE 21, 2022

We're living in a time of near unprecedented uncertainty in the modern era and the risk it brings to supply chain management is immense. How to create a strong risk management strategy. Train your team in risk awareness and build organizational habits around it Risk management is built from the ground up.

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Procurement Tactics

MARCH 16, 2023

However, the entire department must work together for a strategic procurement process to happen. When strategic procurement is done correctly, it can help an organization to optimize its profit margin, reduce risks, and streamline the process of purchasing goods and services needed to achieve business goals. Why is it important?

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Procurement Heads

FEBRUARY 9, 2023

Importance of strategic sourcing As businesses become more focused on sustainability and ethical sourcing, the importance of strategic sourcing will only continue to grow. Increased focus on risk management Procurement professionals are also responsible for managing risk in the supply chain.

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Zycus Cognitive Procurement

AUGUST 29, 2022

Not only Victorian Government, but the world is now on the track to digitize all manual processes to improve compliance and reduce risks along the way. Let’s talk about strategic sourcing and the impact of digital transformation on it. Reducing risks! Do all processes need to be digitized? That’s right.

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Empowering CPO

JULY 2, 2023

One of the key areas we focus on is enhancing supplier risk management through our managed procurement services. Supplier risk management is an integral aspect of procurement, tasked with identifying, assessing, and mitigating risks associated with a company’s supply chain.

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Planergy

JANUARY 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The best way to minimize disruption is to identify the various supplier risks and create a plan of action for what to do if the risk becomes a reality.

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World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Analytical Thinking : Understanding and interpreting data to make informed purchasing decisions.

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World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Analytical Thinking : Understanding and interpreting data to make informed purchasing decisions.

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World of Procurement blog

APRIL 24, 2024

Key Differences and Similarities While buying is a subset of procurement, procurement’s vantage point is of a wider lens, encompassing strategic planning, risk management, and value optimization. For Procurement: Strategic Vision : A forward-looking approach is essential for aligning procurement with organizational goals.

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NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. These insights enable data-driven decision-making, negotiation strategies, and risk mitigation, leading to more informed procurement choices.

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World of Procurement blog

APRIL 23, 2024

Spend analysis enables informed decision-making and strategic sourcing. Contract Management Systems By automating contract creation, storage, and monitoring, these systems ensure compliance, reduce risks, and foster better supplier relationships. They also facilitate quicker contract retrieval and revision.

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World of Procurement blog

APRIL 23, 2024

Spend analysis enables informed decision-making and strategic sourcing. Contract Management Systems By automating contract creation, storage, and monitoring, these systems ensure compliance, reduce risks, and foster better supplier relationships. They also facilitate quicker contract retrieval and revision.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Real-time Visibility supply chain software solutions 52

ivalua

FEBRUARY 8, 2023

As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. Additionally, procurement technology can help organizations improve compliance with regulations and reduce risk.

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Procurement Tactics

JANUARY 13, 2023

Strategic sourcing manager. The strategic sourcing manager is responsible for high-value purchases. To be a strategic sourcing manager, you must have an analytical mind and tactical spending. However, a strategic sourcing manager is often seen in bigger companies. . Procurement consultant.

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NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

Additionally, category management fosters a focus on strategic sourcing , allowing teams to explore new sourcing opportunities that align with business growth objectives. This collaborative approach fosters better communication, risk management, and innovation.

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Spend Matters

APRIL 4, 2024

As detailed below, the analysts’ work in Q1 took a special interest in solution providers that tackle issues of supplier risk management. Each article gives an overview of the technology’s relevant capabilities, how GenAI is used and a high-level market outline that is informed by our recently conducted vendor survey.

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