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In last week’s blog , I began discussing telltale signs that you have entered the new age of strategicsourcing. Leading manufacturers have proven that best-in-class strategicsourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.
If you happen to be a strategicsourcing professional within the manufacturing industry, you probably are experiencing many challenging days at the office. For manufacturers, sales, marketing, finance, ops, and even risk and compliance all have upside. The post Want to be a StrategicSourcing Rising Star?
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 category management and strategicsourcing. The answer is simple – automation.
No support for strategicsourcing: ERP systems don‘t offer support for strategicsourcing, which is critical for optimizing spend and driving savings. They’re not tied in to co-op and piggyback sourcing opportunities, and they can’t bring all your sourcing data together to help you make better purchasing decisions.
When incorporated into an efficient strategicsourcing process, collaboration can result in better visibility into total costs and a better negotiation position. Collaboration with the finance department. Suppliers are always looking to hide sources of cost. The finance department can help you find them.
Director StrategicSourcing Digital & Functional Transformation, . This year, we’ve invited a wide array of industry thought leaders to join 6 expert panels covering Data Integrity, Sourcing Optimization, Sustainable Procurement, Finance Procurement, Public Procurement, and Federal Procurement. . Breakout Sessions.
As financing and cash flow is uncertain, cash is once again king and Procurement and AP leaders are being asked to forecast and preserve cash wherever possible. And 91% of advanced organizations managed all spend via category management and strategicsourcing processes vs. 16% of beginners. But not more than other objectives.
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