Remove Data Remove Purchasing Remove Strategic Sourcing
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What is Strategic Procurement, and How Can Cooperative Purchasing Help?

American City & Country

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 strategic sourcing.

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Strategic sourcing enters a new age. Are you keeping up? (Part 1)

ivalua

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. Strategic sourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.

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What is Strategic Sourcing and Why is it Important?

Oxford College of Procurement and Supply

Strategic sourcing is a contemporary approach to supply chain management. It formalises the gathering, analysis and application of information to assist companies in aligning their purchasing strategy with their goals and securing the best possible value. What is strategic sourcing?

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Ten years later, agencies still making gains on category management

Federal News Network

And while no one would say government purchasing has exactly become simple in the intervening 10 years, category management and best-in-class contracting have done their share of work toward making things better. The increase in the value of best-in-class contracts over the past four years. of spending was characterized as under management.

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Do you have the right sourcing technology? Ask yourself three questions.

ivalua

The strategic sourcing technology market is a crowded space. Walk the exhibit floor at the annual ISM conference and you’ll easily find more than 40 providers offering a wide variety of e-sourcing solutions. So how do you know if you have the right sourcing technology for your business?

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Leveraging Data Analytics in Procurement: Unlocking Efficiency and Strategic Value

Tracker Intelligence

Data-driven decision-making enables procurement teams to improve performance and align with wider organisational goals including corporate social responsibility and risk management. What is Data Analytics in Procurement? Prior purchase data is also used for demand forecasting improving resource management and operational efficiency.

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ERP vs. Best-in-Class — What is Best for Managing the Healthcare Supply Chain

ivalua

They may not consider potential issues of integrations, supplier onboarding, supply chain data management, change management and system optimization, all of which add to complexity and costs. Sustainable master data management and governance: As much as 55% of projects fail due to data management issues.