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Vishal Patel and Peter Hunt delivered their session ‘Creating Value with StrategicSourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to categorymanagement and strategicsourcing.
O-I Glass has chosen Ivalua after assessing technology and process gaps related to strategicsourcing, supplier relationship management, categorymanagement, vendor quality, sustainability, and compliance.
is elevating the position to candidates by making them aware of the various aspects of Procurement beyond sourcing and categorymanagement. It’s critical to communicate how the function has evolved and the impact procurement professionals can have on a business’s success, particularly in a post-Covid world.
A purpose-built solution can enforce proper governance and standards, automate master data optimization activities, identify product standardization opportunities, and automate categorymanagement for strategicsourcing in supply chain. Demand planning capabilities.
He focused initially on sourcing and categorymanagement, because that would give the biggest return on investment as the firm moved from contract administration, to tactical sourcing, to true CatMan and strategicsourcing. Simplification of systems and tools was a key part of the programme.
But now with strategicsourcing and categorymanagement, the process has become much easier to track, monitor and control. Add sourcing workflow to the mix, and introduce machine learning that can link directly to the supplier and track savings, then you can start to see where the science comes in.
There are, in fact different phases of procurement value creation that tie into the Source-to-Pay process: . Identifying Value , is where procurement teams leverage spend data and spend analysis to understand trends in spend and identify opportunities and develop categorymanagement strategies. .
Strategicsourcing professionals may end up doing tactical work, as well. Navistar is elevating the position to candidates by making them aware of the various aspects of Procurement beyond sourcing and categorymanagement. Simplify approvals with clearly defined roles and responsibilities.
Strategicsourcing professionals may end up doing tactical work, as well. Navistar is elevating the position to candidates by making them aware of the various aspects of Procurement beyond sourcing and categorymanagement. Simplify approvals with clearly defined roles and responsibilities.
Some lessons regarding managing supply chain risk may still help in the near term as companies struggle to reconfigure their supply base to an evolving pandemic. First, categorymanagers should look to investment professionals and take a broad portfolio view of supplier risk management.
demand aggregation As one strategy for meeting this obligation, both sectors look for opportunities for volume buying or ‘demand aggregation’ wherever possible and often approach strategicsourcing from a categorymanagement perspective.
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