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So what does “good” strategicsourcing look like? The primary difference between StrategicSourcing and “good” StrategicSourcing is contextualized flexibility. If Procurement follows a StrategicSourcing process flow like a checklist, then all StrategicSourcing projects will start and end in the same way.
Bol.com was in search of a solution to digitalize its indirect S2C cycle to support its business colleagues with efficient and robust sourcing and contractmanagement processes. The post <strong>Bol.com Selects Ivalua to Digitalize StrategicSource-to-Contract</strong> appeared first on Ivalua.
Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategicsourcing.
Contractmanagement frustration: ERP systems might have basic contractmanagement capabilities, but they can’t handle the whole contract lifecycle, from creation to execution and renewal. Procurement software offers a one-stop solution that covers the whole range of contractmanagement challenges.
The project, which was delivered in partnership with Efficio, the leading strategic procurement and supply chain consultancy firm, was focused on STG’s strategicsourcing process as the first stage of a longer term digital transformation. STG is a world leading manufacturer of cigars and traditional pipe tobacco with approx.
Rapid Optimization of ContractManagement, Supplier Management and Direct Materials Sourcing. Asian Paints conceptualized a technology solution using Ivalua’s Supplier Information Management , Sourcing and ContractManagement solutions to streamline the end-to-end contractmanagement and sourcing processes. .
A purpose-built solution can enforce proper governance and standards, automate master data optimization activities, identify product standardization opportunities, and automate category management for strategicsourcing in supply chain. Demand planning capabilities.
Together with its strategic partner Optis Consulting, Ivalua’s solution has digitally enabled FCL’s policies and processes for core procurement activities, including sourcing and contractmanagement. About Federated Co-operatives Limited and the Co-operative Retailing System.
Prescriptive Analytics: Suggests optimal procurement strategies, for example, automating procure-to-pay processes or improving contractmanagement protocols to offer strategic guidance. With this capability, procurement departments can keep abreast of market trends and utilise strategicsourcing opportunities.
However, it is important to understand the differences and varying degrees of focus between direct and indirect spend in procurement and sourcing. They will need to understand internal and external forces and increasingly get to grips with balancing cost savings with long term supplier relationships.
But now with strategicsourcing and category management, 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.
The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave™: Source-To-Contract Suites, Q4 2019. It covers spend analysis, sourcing, contractmanagement and supplier risk and performance management (SRPM), similar in scope to Gartner’s StrategicSourcing Application Suites Magic Quadrant.
The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave : Source-To-Contract Suites, Q4 2019. It covers spend analysis , sourcing, contractmanagement and supplier risk and performance management (SRPM), similar in scope to Gartner’s StrategicSourcing Application Suites Magic Quadrant.
If you are getting started, you are likely looking to start with technology to address a specific process ( StrategicSourcing or P2P for example). For advanced respondents looking to build a competitive advantage, the top obstacles are integration of S2P tools followed by Procurement’s change resistance (13%). Plan to avoid those.
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