article thumbnail

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.

article thumbnail

Get Ready for Success! 4 Critical Workstreams for Successful Procurement Implementation

ivalua

It is important to support this workstream through a team of key individuals: Sponsor: A high-level executive who champions the procurement application implementation, the sponsor provides critical support, resources, and influence. An Analysis by Ivalua Read More : What is Source to Pay Best Practice? Download Today!

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

It’s Long Overdue: Time to Bridge the Link Between Planning and Execution

Logistics Viewpoints

However, without clear guidelines, rules management, and collaborative frameworks, decision-making paralysis ensues, impeding progress and stifling innovation. Bridging this technological divide requires a concerted effort to harmonize data flows and establish a unified source of truth.

article thumbnail

Achieving Compliance with European Banking Authority (EBA) Guidelines on Outsourcing

ivalua

The revised European Banking Authority (EBA) Guidelines on Outsourcing came into effect on September 30 th of 2019. They update former guidelines on the subject from 2006 and specifications on cloud services outsourcing from 2017. Most IT and cloud services do. Failing to do so would imply severe consequences: . General principals.

article thumbnail

Supply Chain Governance Is Essential to the Ethical Business

Logility

Effective governance requires real-time data to improve sourcing decisions, create and nurture a strong supplier network, and provide the transparency consumers demand. Governance ensures you have the correct resources and capabilities there when you need them.

article thumbnail

The Single Point of Failure in Supply Chain – Baby Formula!

Supply Chain Game Changer

Given lack of strict adherence to FDA guidelines, imports from Europe and elsewhere have been curtailed, further restricting necessary supply lines. Any point of single sourcing, or sole sourcing , whether it be materials, parts, resources, systems, processes, suppliers, production or facilities is a single point of failure.

article thumbnail

EBA Guidelines – A Call to Action for Banking Sector Procurement?

ivalua

The European Banking Authority (EBA) has published new guidelines on outsourcing , a document that has wide-ranging implications for every banking organisation, and requires careful consideration by procurement leaders and functions. The guidelines will enter into force on 30 September 2019. appeared first on Ivalua.