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How to build a successful product development strategy

IBM Supply Chain Blog

To remain competitive in today’s relentlessly paced and ever-expanding marketplace, companies must think carefully about what products they’re developing and how they’re developing them, continuously iterating their processes to maintain a competitive edge. These seven stages of product development are: 1.

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How to accelerate your data monetization strategy with data products and AI

IBM Supply Chain Blog

Data monetization is a business capability where an organization can create and realize value from data and artificial intelligence (AI) assets. A value exchange system built on data products can drive business growth for your organization and gain competitive advantage.

Data 103
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Strategic Sourcing + Smart Solutions: The Unbeatable Duo for Procurement Success

SCMDOJO

Companies with strategic sourcing strategies in place were able to avoid production stoppages by having alternative suppliers ready. Moreover, early supplier involvement in product development helps businesses reduce time-to-market, improve product quality, and lower costs.

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Data science vs data analytics: Unpacking the differences

IBM Supply Chain Blog

Though you may encounter the terms “data science” and “data analytics” being used interchangeably in conversations or online, they refer to two distinctly different concepts. Meanwhile, data analytics is the act of examining datasets to extract value and find answers to specific questions.

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Product lifecycle management for data-driven organizations 

IBM Supply Chain Blog

PLM delivers value by standardizing product-related processes, from ideation to product development to go-to-market to enhancements and maintenance. The key foundation of a strong PLM strategy is healthy and orderly product data, but data management is where enterprises struggle the most.

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Spend Management — The Ultimate Guide of 2023

Procurement Tactics

Spend management usually includes strategic procurement processes such as category management, supplier management, inventory management, and product development. . Manual processes in spend management cause many mistakes and errors in data. Visibility of expense data. Centralize expense data. Assess spend data.

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Enhancing Manufacturing Value Through Procurement

Jaggaer

This early involvement allows procurement to provide critical market and supplier intelligence, advising on component sourcing risks that could delay production. The greatest value-add often comes from integrating trusted suppliers into the New Product Development (NPD) process.