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In alignment with Singapore’s ambitious sustainability objectives , the Land Transport Authority (LTA) of Singapore is intensifying its efforts to spur the adoption of electric vehicles. This shift enhances cash flow dynamics and contributes to a notable reduction in the totalcost of ownership for EVe.
Strategic sourcing requires an intense focus on the totalcost of ownership, while incorporating customer needs, organizational goals, and market conditions. Since its inception in the late 1980s, strategic sourcing has always been about getting the best value for the goods and services purchased from third party suppliers.
The main difference relates to cost. In contrast, strategic sourcing focuses on the totalcost of ownership and seeks to create the best possible value. Strategic sourcing assesses all the costs of a company’s operations and considers what value suppliers can bring.
Moreover, as EV tech improves and becomes more widely adopted, the costs associated with electric vehicles are expected to decrease—reducing totalcost of ownership (TCO) compared to a gas-powered fleet. This could help to proactively nip more costly environmental crisis mitigation needs in the bud.
There will always be a cost of goods to consider but it will be a much broader view with the totalcost of ownership internalized as much as possible. As Artificial Intelligence and the Internet of Things expands exponentially, the role of supply chains needs to adapt to be relevant as well.
This means seeking contractual guarantees on ongoing Canadian data control and ownership, including extraterritorial rights, along with stringent security assurances on encryption, access controls and exposure prevention from partners. Snow Family transportable storage facilitates two-way, large-scale dataset migrations between environments.
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