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Unlocking Success: Why Strategic Sourcing Is Important for Your Company

Precoro

To enhance their competitive edge, companies across industries are adopting a key tactic: strategic sourcing. Strategic sourcing is a holistic approach to supply chain management that includes tactics for optimizing the total cost of ownership, improving supplier relationships, and ensuring long-term value creation.

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Successful Strategic Sourcing Engagement? What’s Next?

QAD

I caught up with a former colleague recently to discuss her procurement project which comprised a year-long strategic sourcing engagement. Although she and her team had delivered on a number of procurement objectives through strategic sourcing, she was uncertain where efforts on the supply base should focus next. What’s Next?

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Four Key Strategic Sourcing Benefits

QAD

Recent business turbulence has increased the awareness among manufacturers for improved communication and collaboration with suppliers. This is certainly true in the area of strategic sourcing where procurement teams rely heavily on manually intensive efforts to identify and select suppliers. Boost Long-term Supplier Relationships.

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Consider Profitability in Your Order Promising and Improve Financial Outcomes 

Logility

Source: Logility, 2022. Following that, customers must be informed of decisions made regarding how much product they’ll receive and by when. This is a time-consuming process that never improves with repetition, and it delays providing customers with updated information which ultimately hurts customer satisfaction.

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The Shop Floor Workforce is a Critical Component to Supply Chain Effectiveness

QAD

A connected workforce is a team that has access to real-time information, enabling them to communicate better, make better informed decisions more quickly, and alert those in charge of potential problems sooner. Workers can easily share information, exchange ideas and collaborate on problem-solving.

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What is Supply Chain Management? A Guide to Success

SCMDOJO

From sourcing raw materials, manufacturing, and storage, to transportation and distribution, SCM ensures efficiency and cost-effectiveness throughout the entire journey. Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships.

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6 Ways AI Empowers End-to-End Decision Automation in Supply Chain

Logistics Viewpoints

1) Streamlined Data Flow and Process Automation Is all about AI At the heart of effective supply chain automation lies the seamless flow of data across various sources and digital platforms, akin to a well-constructed highway for data. AI effectively facilitates continuous improvement in supply chains!