IBM Supply Chain Blog

FEBRUARY 13, 2024

For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals.

Strategic sourcing 78

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

SCMDOJO

DECEMBER 29, 2024

However, it covers key differences between purchasing and procurement, explores common contract types, and emphasizes the importance of strategic sourcing, supplier relationships, and risk management. However, liquidation involves selling excess or unwanted inventory to convert it into cash.

Supply Chain Efficiency 95

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 95

Strategic Sourceror

AUGUST 3, 2022

But with the COVID-19 lockdowns lifted and life largely back to normal, retailers appear to have overestimated consumer demand, with their inventories far exceeding the once torrid pace of sales. Retailers aim to reduce their inventory that is piling up due to slower sales. In response, their respective inventories have swelled.

Inventory 104

Inventory supply chain budgeting Supply Chain Optimization Consumer demands 104

Strategic Sourceror

JULY 28, 2022

Increased levels of inflation might be a global concern, but a slowdown in consumer spending is forcing retailers to make significant price reductions on existing inventory. Walmart is well known for its competitive grocery prices and the shift in consumer spending is, the news source said, likely to reflect customer priorities.

Inventory 100

Inventory Price Consumer demands Strategic sourcing 100

ivalua

AUGUST 18, 2015

If you work in strategic sourcing and supplier management, supplier collaboration enables you to achieve (or beat!) If you work in the supply chain planning function, supplier collaboration will take the form of shared demand forecasts, inventory positions, and production schedules.

Collaboration 173

Collaboration Suppliers Bill of materials Supply Chain Efficiency 173

Procurement Tactics

SEPTEMBER 8, 2022

Additionally, it should not be confused with strategic sourcing which is more focused on the long-term approach. Strategic sourcing promotes the timely supply of goods or services that are needed to meet the objectives of an organization. . Additionally, it works more in real-time. Editor's note: Hi there!

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

ivalua

FEBRUARY 25, 2021

A best-in-class solution may also offer inventory management features to enable you to auto-replenish orders, as well as workflows with client-defined business rules to enforce payment channel buying strategies. Sustainable master data management and governance: As much as 55% of projects fail due to data management issues.

supply chain budgeting 221

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

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

Supply Chain Game Changer

MARCH 14, 2022

Managing inventory and transportation isn’t a one-size-fits-all activity. A recent study by Aberdeen Group shows that companies who optimize their supply chains using forecasting techniques enjoy an average of billions annually from inventory reduction alone. Strategic Sourcing & Vendor Managed Inventory.

Supply chain management 115

Supply chain management Supply chain management Agile and Lean Supply Chain Supply Chain Optimization 115

Jaggaer

FEBRUARY 28, 2025

However, simply cutting costs isnt a sustainable strategy CPOs must move beyond tactical price reductions and embrace strategic cost management. Solutions: Strategic Sourcing: Move beyond transactional purchasing and embrace strategic sourcing.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Supply Chain Optimization Real-time Visibility 52

World of Procurement blog

MAY 8, 2024

Cost Savings - The total cost reduction achieved through strategic sourcing, price negotiations, product rationalization etc. Working Capital - Inventory levels, DPO, DSO etc. Dual sourcing and supply chain digitization can help. Strategies like nearshoring, inventory optimization and scenario planning enable resilience.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Jaggaer

FEBRUARY 20, 2025

Strategic sourcing becomes part of the process and ensures that the best vendors are selected, and that favorable deals are negotiated with them. This sequence of tasks is sometimes referred to as source to contract, and they form the upstream elements in S2P. Strategic sourcing: The word strategic is added for good reason.

Sourcing 52

Sourcing e2e Supply Chain Efficiency Strategic sourcing 52

Strategic Sourceror

SEPTEMBER 16, 2022

Fast forward to today, supply has normalized, but inventory has piled up, as business owners overestimated the degree to which demand would remain elevated in a post-pandemic world. Changing world, consumer and economic circumstances have forced product-based industries to restrategize and exercise proper inventory control.

Inventory control 57

Inventory control Inventory supply chain software solutions Strategic sourcing 57

Jaggaer

NOVEMBER 14, 2024

Strategic Sourcing with Superior Supplier Intelligence Superior supplier intelligence is a major value driver especially at the sourcing stage. Digital tools optimize your logistics by providing a single channel for all send and receive order information, offering complete oversight of inventory management.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Chief Procurement Officer Supply Chain Optimization 52

Strategic Sourceror

DECEMBER 5, 2022

Prior to the pandemic, just-in-time inventory — the supply chain management strategy of keeping "just enough" inventory in stock to satisfy expected demand — was considered conventional wisdom. What is just-in-case inventory? At its essence, just-in-case inventory is the inverse of just-in-time.

Inventory 62

Inventory Strategy Supply Chain Efficiency Management 62

ivalua

FEBRUARY 8, 2023

Perhaps 30 days of inventory isn’t enough in times of crisis, and terms should be updated. Prior to his time at Ivalua, Jarrod held various roles in category and supplier management—including strategic sourcing and procurement team management where he led teams to implement shared service procurement models and Source-to-Pay systems.

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

The Good Spending

JANUARY 4, 2023

Its two dimensions suggest the flat Earth approach with insufficient room to cater to the complexities of modern category management and strategic sourcing situations. The Strategic Sourcing Matrix Let’s start with the classical view, which is the adapted Strategic Sourcing matrix.

Strategic sourcing 97

Strategic sourcing Strategic sourcing Agile and Lean Supply Chain Category management 97

ivalua

AUGUST 18, 2015

If you work in strategic sourcing and supplier management, supplier collaboration enables you to achieve (or beat!) If you work in the supply chain planning function, supplier collaboration will take the form of shared demand forecasts, inventory positions, and production schedules.

Collaboration 100

Collaboration Suppliers Bill of materials Supply Chain Efficiency 100

Strategic Sourceror

SEPTEMBER 22, 2022

But with stores awash in inventory as it is, retailers are slashing prices with abandon so they can make as much room as possible for what they'll sell November and December. " High levels of inventory levels are taking a toll on retailers. Throughout the lockdown, demand far outpaced supply. Census Bureau.

Inventory 57

Inventory Agile and Lean Supply Chain Buyers Supply chain 57

Strategic Sourceror

OCTOBER 27, 2022

Collaboration increases inventory visibility From the toilet paper shortage to months-long back orders for home-based exercise equipment, insufficient inventory was a huge problem throughout the lockdown. They all agreed that collaboration served as a binding agent. Here's how: 1. Brought to you by the StrategicSourceror.

Collaboration 105

Collaboration Supply Chain Efficiency supply chain software solutions Supply chain 105

Skill Dynamics

FEBRUARY 13, 2025

Lets take a look at some of the key areas you should look at: Strategic Sourcing and Supplier Management : Theres been a clear shift away from traditional procurement methods and towards more strategic sourcing.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 52

Strategic Sourceror

JANUARY 20, 2023

Among the most common are: Warehouse management systems: WMS software centralizes all supplier and inventory data in a single system, giving your warehouse managers complete oversight of all fulfillment functions. Brought to you by the StrategicSourceror.

supply chain budgeting 104

supply chain budgeting supply chain software solutions Supply Chain Efficiency Supply Chain Optimization 104

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.

Sourcing 94

Sourcing Strategy Supply Chain Efficiency e2e 94

Supply Chain Game Changer

AUGUST 24, 2021

In addition, supply chain analytics can boost inventory optimization and visibility, real-time product intelligence, and strategic sourcing. Automatic identification is a breakthrough for inventory management, tracking/tracing systems, and process control. Robots And Automation.

Supply Chain Optimization 119

Supply Chain Optimization Supply Chain Efficiency Supply chain Real-time Visibility 119

Planergy

OCTOBER 26, 2023

How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What Is the Formula for Calculating Days Inventory Outstanding? Should Days Inventory Outstanding Be High or Low? How Do You Use Days Inventory Outstanding To Calculate Cash Flow Conversion?

Inventory 52

Inventory Supply Chain Efficiency Purchasing supply chain software solutions 52

Strategic Sourceror

DECEMBER 20, 2022

Automated fulfillment is helping to improve operations and right size inventories. But through demand forecasting, a complimentary tool of automated fulfillment systems, your business can get a better sense of what demand will be like at any given time, allowing you to diminish, increase or maintain your inventory needs accordingly.

Supply Chain Optimization 108

Supply Chain Optimization Supply Chain Efficiency Order Fulfillment Demand 108

Procurement Templates

JUNE 18, 2023

Strategic sourcing: Adopting strategic sourcing practices enables procurement to analyze the entire supply chain and identify cost drivers. Inventory management: Optimize inventory levels to strike a balance between supply availability and carrying costs.

Procurement 130

Procurement Supply Chain Efficiency supply chain budgeting Raw materials 130

Strategic Sourceror

OCTOBER 27, 2022

For retailers, inventory shrinkage is an unavoidable reality. A Blog for Procurement, Supply Chain and Purchasing Professionals, sponsored by Corcentric , a leading Procurement Service Provider, specializing in Strategic Sourcing, Procurement Resources and Procurement Advisory. Brought to you by the StrategicSourceror.

Strategic sourcing 107

Strategic sourcing Strategic sourcing Purchasing Procurement 107

Jaggaer

OCTOBER 24, 2024

Information sharing through supplier collaboration supports effective inventory management and enables you to plan proactively while identifying risks such as shortages and delays. Value chain : Transparency in operations and across multiple supplier tiers gives you visibility into potential gaps in supply continuity.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

Strategic Sourceror

AUGUST 5, 2022

They're also snatching up ingredients more quickly than they in the past to shore up their inventory and avoid delays. A Blog for Procurement, Supply Chain and Purchasing Professionals, sponsored by Corcentric , a leading Procurement Service Provider, specializing in Strategic Sourcing, Procurement Resources and Procurement Advisory.

Supply chain 104

Supply chain Supply Buyers Consumer demands 104

ivalua

JUNE 1, 2022

But because we were proactive, we were able to build inventories ahead of time so that we had enough material in the pipeline before the crisis really hit peak.”. Strategic sourcing professionals may end up doing tactical work, as well. Perhaps 30 days of inventory isn’t enough in times of crisis, and terms should be updated.

Supply chain resilience 130

Supply chain resilience Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting 130

ivalua

MARCH 16, 2021

But because we were proactive, we were able to build inventories ahead of time so that we had enough material in the pipeline before the crisis really hit peak.”. Strategic sourcing professionals may end up doing tactical work, as well. Perhaps 30 days of inventory isn’t enough in times of crisis, and terms should be updated.

Supply chain resilience 130

Supply chain resilience Supply Chain Efficiency Agile and Lean Supply Chain supply chain budgeting 130

Una

NOVEMBER 16, 2022

Less time spent researching and negotiating with suppliers A central location for purchase orders, invoices, and spend reports Simpler inventory management Minimized maverick spend Procurement specialists do the purchasing Provides an opportunity to implement strategic sourcing for all locations.

Procurement 98

Procurement Purchasing Procurement team Supplier negotiation 98

Una

FEBRUARY 13, 2023

Particularly in an era of Just-in-Time (JIT) supply management where businesses keep costs down by minimizing inventory, a supply chain only works so long as every link functions smoothly. For example, you may have some inventory in stock, or it may mean you simply have to delay the implementation of a project.

Supply chain 98

Supply chain Supply Contract Suppliers 98

Strategic Sourceror

SEPTEMBER 16, 2022

Home prices are influenced by numerous factors, including inventory, geography, demand and the materials that are used during the construction process. "They didn't want to be sitting on huge inventories of lumber, so that's what initially caused the large upswing in prices in 2020," Logan explained.

Price 70

Price Inventory Strategic sourcing Strategic sourcing 70

Supply Chain Game Changer

JULY 31, 2019

In fact, we recently brought on a new Cannabis client who’s scaling up a strategic sourcing operation in all of their Procurement, so that all their spend is captured and accounted for as they grow, rather than after. But trust us, if you don’t have Supply Chain experience, you can’t. Getting it funded is harder.

Supply Chain Efficiency 72

Supply Chain Efficiency Supply chain Supply chain management Supply chain management 72

Jaggaer

OCTOBER 24, 2024

Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more. Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supply chain.

Collaboration 52

Collaboration Supply Chain Efficiency Suppliers Real-time Visibility 52