ivalua

JULY 22, 2015

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.

Strategic sourcing 147

Strategic sourcing Strategic sourcing Sourcing Supplier consolidation 147

ivalua

NOVEMBER 27, 2019

So what does “good” strategic sourcing look like? The primary difference between Strategic Sourcing and “good” Strategic Sourcing is contextualized flexibility. If Procurement follows a Strategic Sourcing process flow like a checklist, then all Strategic Sourcing projects will start and end in the same way.

Strategic sourcing 113

Strategic sourcing Strategic sourcing Sourcing Suppliers 113

Una

NOVEMBER 1, 2022

Benefits of Strategic Sourcing and Best Practices. Let’s look at what strategic sourcing is, its best practices, and five key benefits: What is the difference between strategic sourcing and procurement? Strategic sourcing best practices. Here are four best practices for strategic sourcing: 1.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Cost of ownership 98

Procurement Templates

MARCH 3, 2024

I asked my assistant to help me mock up a strategic sourcing framework and she did a fairly good job but made a few mistakes. This involves assessing suppliers’ capabilities, pricing, quality standards, and reputation. Understanding market dynamics helps in making informed sourcing decisions and mitigating risks.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

ivalua

MARCH 18, 2021

Massy, France 18 March , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, and CKS BeNeLux today announced that Punch Powertrain has successfully deployed Ivalua’s platform to support the digital transformation of the strategic sourcing process. Tom Reynolds / Robert Fretwell. 0207 436 0420.

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Strategic sourcing Strategic sourcing Sourcing Buyers 130

Procurement Tactics

JUNE 7, 2023

Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts →  Or receive our famous weekly newsletter Purchase Price Variance — Everything You Should Know Purchase price variance is an important factor for budget preparation, but why? Price Purchase Variance: What is it? Why is it Important?

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Price Purchasing Raw materials Negotiation 130

Procurement Templates

NOVEMBER 21, 2024

Here’s a detailed guide to enhance procurement capabilities across various domains: Strategic Sourcing and Supplier Management Actionable Steps: Analyze Spend Data: Use spend analysis tools to identify areas where costs can be reduced or efficiencies improved. Resources: Online courses on strategic sourcing (e.g.,

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

Spend Matters

JANUARY 23, 2025

This article will outline those limitations and propose that invoking competitive negotiations with machine learning solutions such as Arkestro is the optimal way to evaluate the market competitiveness of price quotes. Thus, should-cost models often misrepresent what constitutes a good price. supplier count, event size).

Price 103

Price Negotiation supply chain software solutions Supply Chain Optimization 103

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. Specific types of sourcing minimize costs in different ways.

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Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 78

Spend Matters

DECEMBER 17, 2024

The main drivers of the ROI analysis are Spend Compliance (user and supplier compliance for value realization), Process Improvement, Price Reduction and Cash Management. The latter is a top Vroozi value proposition for customers because they can get more spend under control, more visibility and more savings (value realization).

Procurement 107

Procurement Change management Strategic sourcing Strategic sourcing 107

Spend Matters

AUGUST 4, 2022

Instead, efforts should be focused on implementing a new, multi-step sourcing approach that: Ramps up the volume of available resources to complete projects in unprecedented time frames. Negotiates unit pricing contracts with partners to support 2022 goals.

Strategic sourcing 75

Strategic sourcing Strategic sourcing Sourcing Negotiation 75

Una

AUGUST 31, 2023

Overcoming Challenges with Strategic Sourcing for SMEs Explore how strategic sourcing for SMEs can help procurement professionals overcome the unique challenges of operating a small business. Una leverages over $100 billion in collective buying power to secure favorable pricing.

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Strategic sourcing Strategic sourcing Sourcing Supplier relationship management 52

ivalua

MAY 30, 2023

By ensuring that the right goods and services are purchased at the right price and delivered on time, procurement can help to ensure that a company or organization achieves its goals. Developing and executing category strategies is critical to effective strategic sourcing.

Eprocurement 49

Eprocurement Procurement Supply Chain Efficiency Supply chain resilience 49

ProcurePort

MAY 17, 2022

• Strategic sourcing is a combination of activities aimed at aligning a company’s procurement spend with its overall objectives. It’s about spending money in the wisest ways rather than just angling for the lowest prices of items.

Sourcing 130

Sourcing Import Strategy Strategic sourcing 130

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.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Future Purchasing

OCTOBER 4, 2022

Value is usually secured via three implementation routes – internal business change, supplier management and sourcing. In contrast, strategic sourcing is the process used by Procurement teams to source products and services for the business. Business requirements. Further reading.

Category management 59

Category management Strategic sourcing Strategic sourcing Sourcing 59

Procurement Tactics

MARCH 16, 2023

Strategic procurement is data-driven and uses a combination of tools and techniques that go far beyond unit price reduction. However, the entire department must work together for a strategic procurement process to happen. Category Management Category management sorts your spending into areas with the same supplier markets.

Procurement 238

Procurement Procurement strategies supply chain budgeting Contract management 238

Spend Matters

OCTOBER 31, 2024

Today please get to know True ValueHub From our recent analyst-written Vendor Analysis : Here’s why True ValueHub matters: To the market — True ValueHub offers deep parts analysis (price/cost-focused) for direct materials using AI and deep supplier insights.

Real-time Visibility 120

Real-time Visibility Supply Chain Efficiency Buyers Supply Chain Optimization 120

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. Building Robust Supplier Relationships Successful strategic sourcing extends beyond transactional interactions with suppliers.

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Strategic sourcing Strategic sourcing Sustainability Sourcing 52

ivalua

MAY 9, 2023

In light of existing rules, vendors can deter competition by driving prices down in competitive tenders. However, this strategy may lead to a lack of options and price volatility within the market.

Procurement 246

Procurement Strategy Strategic sourcing Strategic sourcing 246

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. Strategic is about building strong, lasting relationships with suppliers that deliver the best overall value.

Strategic sourcing 40

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 40

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. Order Monitoring.

Procurement 226

Procurement Purchase orders Purchasing Strategic sourcing 226

ivalua

DECEMBER 2, 2015

Engaging suppliers in strategic sourcing events and collaborative cost improvement efforts will ensure that purchased component costs are appropriate to achieve targeted gross margins. Once product volumes have ramped to maturity, there is often competitive pricing pressure that will erode revenues and profitability.

Suppliers 140

Suppliers Strategic sourcing Strategic sourcing Innovation 140

Jaggaer

JULY 10, 2024

What is astounding is the rate at which companies are already adopting carbon pricing into their purchasing strategies and communicating this to their suppliers. Learn more about strategic sourcing: empowering decision-making across disciplines in our on-demand Video: Watch now Find out more at www.carbmee.com

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Strategic sourcing Strategic sourcing Sourcing Bidding 52

ProcurePort

MAY 18, 2022

• Sourcing is the process of finding the most suitable suppliers of goods and services to a company. When sourcing, a business has to consider the following constraints: cost, profit margins, and competitiveness. •

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Sourcing Procurement Price Suppliers 246

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

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. Chief among those materials is lumber, and for the better part of two years, lumber prices have see-sawed wildly, fueling frustration among developers as well as would-be homebuyers.

Price 70

Price Inventory Strategic sourcing Strategic sourcing 70

Procurement Insights

APRIL 2, 2025

Chevrons procurement and supply chain challenges in 2025oil price volatility, geopolitical disruptions, ESG compliance, talent shortages, technology adoption, and logistics bottlenecksrequire tailored solutions from ProcureTech providers. Limited in ESG or strategic sourcing but supports operational agility.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement solutions Supply Chain Efficiency Procurement 52

Empowering CPO

JUNE 22, 2023

Introduction Welcome to our complete guide on the role of spend analysis in strategic sourcing. In the ever-evolving world of business, strategic sourcing has become a linchpin in corporate success. But how do we fuel the engine of strategic sourcing? Spend analysis is the catalyst for strategic sourcing.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Procurement Templates

DECEMBER 11, 2024

Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Here are some typical procurement objectives that every procurement professional should consider. Savings can be cashable or non cashable i.e. cost avoidance.

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Procurement Supply Chain Efficiency supply chain budgeting Cost of ownership 130

World of Procurement blog

MAY 8, 2024

The goal is to find suppliers capable of delivering based on specifications, pricing, quality, capacity, and other factors. Contract Negotiation After selecting the best supplier, the procurement team negotiates final contract terms like pricing, service levels, delivery timelines, warranties, and other legal and commercial conditions.

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Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 52

Empowering CPO

FEBRUARY 20, 2023

As is true the objective of every strategic sourcing project is to reduce the total cost of ownership. In keeping the above points in perspective it is very essential that the vendor pricing evaluation methodology should be very robust.

Price 52

Price Cost of ownership Strategic sourcing Strategic sourcing 52

Procurement Insights

MARCH 16, 2025

pricing trends, geopolitical risks) and contextually compare it with internal procurement data. While they are distinct concepts, they complement each other in AI-driven procurement, strategic sourcing, and market intelligence. Intelligent Market Adaptation: MCP enables procurement AI to track historical pricing trends.

Supply Chain Optimization 52

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency Bidding 52

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

Procurement Tactics

MAY 24, 2023

These KPIs might include factors such as on-time delivery, product quality, pricing, responsiveness to inquiries, and customer service. Strategic sourcing managers and procurement managers are typically responsible for managing supplier scorecards. Pricing Performance Pricing is an important point when choosing a supplier.

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Jaggaer

FEBRUARY 20, 2025

But before this can happen someone has to identify suitable vendors to secure goods and services at the best value (not necessarily the lowest price) within a variety of constraints (risk management, ESG and regulatory factors etc.). Strategic sourcing: The word strategic is added for good reason.

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Sourcing e2e Supply Chain Efficiency Strategic sourcing 52

SCMDOJO

FEBRUARY 21, 2025

A well-defined procurement strategy doesnt just mitigate risksit adds significant value to your organization : Cost Savings: Strategic sourcing and supplier negotiations reduce procurement costs. Improved Supplier Collaboration: Stronger relationships lead to better service levels and pricing.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 59