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4 strategic sourcing use cases to strengthen your supply chain

IBM Supply Chain Blog

In this age of supply chain disruptions that hold the power to upend entire industries, strength and resilience across the entire value chain is no longer a nice-to-have—it’s a survival tactic. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals.

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Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

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.

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Procurement Best Practices You Should Know

World of Procurement blog

By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems.

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Procurement Best Practices You Should Know

World of Procurement blog

By adopting best practices, companies can reduce costs, improve quality, and enhance supplier relationships. Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems.

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Managed Procurement Services: A Strategic Approach to Cost Reduction

Empowering CPO

If you’re new to the term, Managed Procurement Services refers to the outsourcing of a company’s procurement functions to a specialized firm. This approach allows businesses to leverage the expertise of procurement specialists to streamline operations, optimize supplier relationships, and most importantly, reduce costs.

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6 Essential Procurement Training Courses for Professionals: How To Begin and Advance Your Career in Procurement

SCMDOJO

Choose between a broad overview of procurement and a focused course that focuses on certain topics like strategic sourcing, contract management, or supplier relationship management. Take into account things like your current skill level, desired improvement areas, and professional objectives.

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Demystifying Managed Procurement Services: What Every Business Leader Should Know

Empowering CPO

Through these services, businesses can leverage the provider’s expertise, technologies, and relationships to enhance the efficiency and effectiveness of their procurement operations. From supplier relationship management to purchasing and payment processing, MPS providers cover a wide spectrum of procurement-related activities.