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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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Supply Chain KPIs & Metrics: Our Top 24 for Manufacturers

Silvon Software

For one thing, today’s operational processes have become more complicated due to the ever-growing number of sources, platforms and touchpoints that must now be analyzed in order to drive actionable insights from them. Supply chain metrics provide the intelligence needed to make better projections and more informed choices in such a market.

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Metrics that Matter: Inventory Effectiveness

QAD

Excess and obsolete inventory is a drain on resources, as is excessive safety stock. It is critical to monitor inventory effectiveness using five key metrics: Expedited orders, inventory turns, obsolete inventory, safety stock and stockouts. Using Metrics to Measure the Health of the Business.

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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!

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Supply Chain Normalcy? Think Again.

Supply Chain Shaman

For organizations layered in functional metrics and driving a cost agenda, this is a tough nut to crack. Align the organization and focus resources on building adaptive modeling capability. (I Build in-market sourcing. Rationalize global strategies to focus on building markets based on in-market sourcing.

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Outside-in Process Q&A

Supply Chain Shaman

Based on the work with Georgia Tech, we are getting clear on which metrics matter by industry. As companies adopt a balanced scorecard, the functional metrics shift to a focus on reliability. Then take an inventory of all the sources of channel data in the organization. Is it more of a steak market?

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Breaking Boundaries: Exploring Generative AI’s Impact on Supply Chains

The Logistics & Supply Chain Management Society

Supply chain data can be challenging to manage due to its unstructured or semi-structured nature and the need to integrate new data sources. To ensure successful integration, they should create a plan with timelines, resources, and evaluation metrics (refer Figure 2).