SCMDOJO

JANUARY 9, 2025

Improving Cost and Quality Every decision in strategic sourcing impacts the total cost of ownership, the quality of goods or services, and supply chain resilience. By engaging in rigorous supplier selection and negotiation, companies can secure better pricing and ensure higher quality standards.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Procurement 98

Jaggaer

OCTOBER 24, 2024

Conventional transactional relationships focus on price and delivery terms. Moreover, by involving suppliers in the initial stages of product development, companies can identify potential issues before they become costly problems. The aim is not simply to drive down the price, but the total cost.

Collaboration 52

Collaboration Innovation Suppliers supply chain budgeting 52

Jaggaer

OCTOBER 24, 2024

This resilience can be defined as “ the ability of a central procurement and supply management function to prepare for unexpected events, respond to disruptions, recover, and emerge even stronger. ” Manufacturers cannot foresee every risk, inconvenience, or disaster, but they can equip themselves to handle the unexpected and come out on top.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency Agile and Lean Supply Chain 52

Procurement Tactics

JUNE 7, 2023

Shared value creation Supplier collaboration fosters shared value creation through enhanced innovation, improved operational efficiency, and supply chain resilience. Additionally, GEP SMART provides vendor collaboration dashboards, allowing suppliers to manage their profiles, catalogs, and pricing.

supply chain software solutions 130

supply chain software solutions Collaboration Suppliers Supply Chain Efficiency 130

Arkestro

OCTOBER 3, 2024

Some of these requirements may include technical specifications, validation tests, program milestones, tracking design or price changes, and much more. Long-term agreements (LTAs) and annual part-price PPV (purchase price variance) negotiations are all part of the mix.

Procurement 52

Procurement Procurement team Supply Chain Efficiency supply chain budgeting 52

Empowering CPO

JUNE 14, 2023

Common models include the ‘three-bid and buy’, where the company seeks quotes from three suppliers and then selects one based on price and other factors; and the ‘preferred supplier’ model, where the company forms long-term relationships with certain suppliers.

Innovation 52

Innovation Procurement Supply Chain Efficiency Sustainability 52