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.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 147

Jaggaer

FEBRUARY 5, 2025

What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Supply Chain Efficiency Sourcing 52

Pipefy

MAY 22, 2024

A brief introduction to total cost of ownership (TCO) Total cost of ownership refers to all of the expenses that are incurred when purchasing, implementing, deploying, maintaining, and using a product, tool, or equipment. This also includes any time costs associated with downtime, training, or other productivity losses.

Cost of ownership 52

Cost of ownership Purchasing supply chain software solutions Supply Chain Optimization 52

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing supply chain software solutions 52

Jaggaer

FEBRUARY 5, 2025

Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Strategy 52

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. In doing so, procurement professionals are ascending the corporate stairs to have a more visible seat in their business’s strategic sourcing. Strategic sourcing best practices. Here are four best practices for strategic sourcing: 1. Strategic sourcing is similar.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

ivalua

FEBRUARY 25, 2021

For example, a single-stack approach can lead to low user adoption, because the incumbent sourcing solution, for example, fails to meet the needs of various business units. . Total Cost of Ownership, ERP appears to be cheaper, but is it? What is the benefit of using a single source to pay solution?

supply chain budgeting 221

supply chain budgeting Supply Chain Optimization supply chain software solutions Supply Chain Efficiency 221

ivalua

MARCH 18, 2021

Solution deployed in 10 days to improve direct material sourcing, increasing profitability. The platform was configured in 10 business days to deliver rapid value in the sourcing of direct materials. The platform was configured in 10 business days to deliver rapid value in the sourcing of direct materials.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Buyers 130

Procurement Tactics

SEPTEMBER 7, 2022

Procurement, in simple terms, is the act of sourcing and acquiring services or goods for the organization to run. . The total cost of ownership. Life cycle costing. Organizations can also be saved from the economic costs of disruptions in sustainable procurement such as noncompliance with environmental organizations.

Sustainability 163

Sustainability Procurement Cost of ownership Supply Chain Efficiency 163

Procurement Tactics

MAY 2, 2023

Environmental benefits Reduction in Energy Consumption Reduction of waste Reduce carbon emissions Improve resource efficiency Limits the negative impacts of purchasing from non-certified sources Restoration of biodiversity Protection of wildlife 2.

Sustainability 204

Sustainability Procurement strategies Negotiation Ethics 204

Procurement Tactics

APRIL 3, 2023

Additionally, moving towards more renewable sources of energy reduces the dependency on using fossil fuels as well as helps reduce carbon emissions. Other environmental benefits include: Reduction in Energy Consumption Limits the negative impacts of purchasing from non-certified sources Restoration of biodiversity Protection of wildlife 2.

Sustainability 183

Sustainability Procurement Supply Chain Efficiency Procurement strategies 183

Una

MAY 10, 2023

In this episode of The Sourcing Hero podcast, Host Kelly Barner welcomes Cory Connors. Efforts to increase operational sustainability are gaining steam worldwide, which means that what that packaging is made of and what happens to it after a delivery has been made are of greater concern than ever before.

Sustainability 98

Sustainability Cost of ownership Supply chain Sourcing 98

Procurement Templates

SEPTEMBER 14, 2023

Procurement, traditionally seen as a function focused on sourcing goods and services at the best possible prices, has now evolved into a strategic driver for sustainability. It has the potential to drive change throughout the entire supply chain, influencing how products are sourced, manufactured, and distributed.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Arkestro

NOVEMBER 12, 2024

Today’s procurement challenges go far beyond cost negotiations and sourcing. Businesses must now navigate sustainability, risk management, and total cost of ownership (TCO)—which now are shifting more spend into the “defer” or “ignore” buckets. Arkestro introduces a templatized, embedded approach to sourcing events.

Procurement 52

Procurement Bidding Procurement team Supply Chain Efficiency 52

Procurement Tactics

SEPTEMBER 21, 2022

Businesses of all sizes need to save money and reduce costs as much as possible. Sustainability in procurement helps reduce the total cost of ownership through the reduction of energy costs, minimized consumption, over-specification, and environmental and social compliance cost. Risk reduction. LEARN MORE.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Empowering CPO

DECEMBER 14, 2020

To answer this question, it is much simpler first to list down the reasons as to when a specific category should be taken up for Strategic Sourcing. This helps a procurement organization to list down its plan for the New Year and identify categories that should be taken up for sourcing. Once every year is the right frequency.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 52

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. At EmpoweringCPO, we understand the pivotal role it plays in optimizing the supply chain, reducing costs, and fostering long-term competitiveness.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sustainability Sourcing 52

ivalua

MAY 28, 2014

In sourcing, successful manufacturers exploit all available information and analytics to make informed, strategic decisions in support of future success. The Cloud: Gartner stated that in 2013 cloud adoption rose by 40%, driven by the low total cost of ownership, which reduced both infrastructure and overall maintenance costs.

Supply Chain Optimization 100

Supply Chain Optimization Innovation Supply chain Cost of ownership 100

Procurement Tactics

APRIL 5, 2023

Furthermore, it shows that businesses are aware of their future impacts and consider them before sourcing and making their products. Additionally, adopting sustainability in procurement allows businesses to lead in reversing the damage done to the earth.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

SCMDOJO

SEPTEMBER 19, 2024

As a procurement officer, you’ve possibly been in the crosshairs of debate between sourcing locally and regionally versus from low-cost countries endorsed by many executive staff and boards of directors. Every time I was requested to have a target percentage of our purchases from low-cost countries I felt a pit in my stomach.

Price 98

Price Suppliers Cost of ownership Quality 98

Jaggaer

DECEMBER 13, 2024

The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supply chain management, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.

Sourcing 52

Sourcing Contract Procurement Chief Procurement Officer 52

Planergy

FEBRUARY 24, 2025

Prioritize Total Cost of Ownership (TCO) TCO goes far beyond the initial purchase price, considering the entire lifecycle of an asset or service. Measuring Procurement Effectiveness Key performance indicators for educational procurement include: Cost Savings Percentage: Its not about spending less but the value for money.

Procurement 52

Procurement supply chain budgeting Supply Chain Efficiency Budget 52

Procurement Tactics

SEPTEMBER 15, 2022

Use the Total Cost of Ownership (TCO) approach when buying. A total cost of ownership assessment adds the financial costs over a product or service’s life cycle. This course is a perfect fit for ambitious procurement & sourcing professionals. Negotiation Gamechanger Certificate Program. LEARN MORE.

Purchasing 130

Purchasing Sustainability Cost of ownership Supply Chain Efficiency 130

ivalua

OCTOBER 28, 2015

This includes sourcing, supply chain, logistics, product management, and even key senior executives. This includes total cost of ownership data, detailed supplier profiles, and external business intelligence. Create a specific data map. See below for examples. Create a collaborative information analysis process.

Suppliers 100

Suppliers Cost of ownership Price Collaboration 100

Strategic Sourceror

JULY 11, 2022

Every once in a while, a supplier is the single source for the materials you need. What will be your total cost of ownership to partner with another supplier? Total cost of ownership refers to the estimation of overall expenses for developing a given product when factoring in all of the process aspects that go into its creation.

Cost of ownership 57

Cost of ownership Suppliers Supply Chain Efficiency Strategic sourcing 57

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. Unlike traditional sourcing, which usually aims to find the lowest cost option and looks at the bigger picture.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

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

World of Procurement blog

APRIL 23, 2024

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

World of Procurement blog

APRIL 23, 2024

Leverage Technology and Automation Adopting procurement software and technologies can significantly streamline processes, from e-sourcing to electronic payment systems. Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers.

Cost of ownership 52

Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

Spend Matters

JANUARY 8, 2024

There has also been a growing appreciation that, when done intelligently, buying closer to home can not only ensure greater reliability of supply and higher flexibility, but also be more cost-effective in terms of Total Cost of Ownership. Circular supply models and inclusive chains are gaining importance.

Procurement solutions 99

Procurement solutions Supply Chain Optimization Procurement Supply Chain Efficiency 99

Arkestro

OCTOBER 8, 2024

Spend Matters , the leading source for data-backed technology and solutions intelligence, has selected Arkestro as a Top Sourcing Tech vendor in their Fall 2024 SolutionMap rankings. We are thrilled to be recognized as a Top Sourcing Tech solution by Spend Matters,” said Arkestro Founder and CSO Edmund Zagorin.

Sourcing 52

Sourcing Buyers Cost of ownership Procurement 52

IBM Supply Chain Blog

AUGUST 31, 2023

Conversational search uses generative AI to free up human authors from writing and updating answers manually; this accelerates time to value and decreases the total cost of ownership of virtual assistants. This framework also ensures watsonx Assistant can trace every generated answer back to its source content.

Cost of ownership 79

Cost of ownership Sourcing Data Collaboration 79

Empowering CPO

DECEMBER 9, 2020

Baseline preparation is one of the most important phase during any Strategic Sourcing process. Baseline can be defined as the total cost of ownership for the set of goods or services as defined in the RFP scope. Extrapolating Total Cost of Ownership because of change in projected quantity or Service Levels.

Data 52

Data Cost of ownership Strategic sourcing Strategic sourcing 52

SCMDOJO

JULY 29, 2022

That the only relevant costs are holding costs, setup and ordering costs : [3]. We recommend taking a very detailed course by SCMDOJO Expert Corey Weekes on T otal Cost to Ownership & Serve. Author : Emad Atef – CSCA, MBA (Candidate), Procurement and Sourcing Manager. References.

Quantity 131

Quantity Supply chain management Supply chain management Supply Chain Efficiency 131

SCMDOJO

JUNE 6, 2024

Ethical and Sustainable Procurement: The curriculum emphasizes the importance of responsible sourcing practices, aligning with the growing demand for ethical and sustainable supply chains. Whether you’re a complete beginner or a seasoned professional seeking to upskill, we have courses tailored to your needs.

Procurement 105

Procurement Supply Chain Optimization Supply Chain Efficiency Ethics 105

Supply Chain Game Changer

NOVEMBER 13, 2018

As companies seek to discover ways to increase overall excellence and competitiveness, a new source of value has emerged – Strategic Sourcing. What is Strategic Sourcing? The fundamental objective of any organisation is lowering the cost of goods manufactured. Deliver significant earnings to bottom line.

Strategic sourcing 73

Strategic sourcing Strategic sourcing Procurement supply chain budgeting 73

Empowering CPO

FEBRUARY 20, 2023

Negotiation is one of the key steps during any Strategic Sourcing process. Procurement organizations and sourcing companies adopt different methods to negotiate prices with vendors. The Lot total should represent the Total Cost of Ownership for the buyer and should include all factors so as to ensure an apple-to-apple comparison.

Strategy 52

Strategy Cost of ownership Strategic sourcing Strategic sourcing 52