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Blog
3 Reasons Understanding Your Suppliers Better Will Benefit Your Sourcing
Supplier relationships are your new competitive advantage All businesses face extraordinary challenges in 2020. The fallout from an ongoing COVID-19 pandemic has put financial pressure on companies, resulting in cost-cutting across the board. In addition, the epidemic...
3 Ways to Measure Predictive Procurement Success Beyond Cost Savings
There was a time when a company’s procurement function was largely left out of the loop and taken for granted. Once other business units had made the meaningful decisions, then it was up to the sourcing team to look after the mundane tasks of contacting suppliers and...
3 Ways Pricing Transparency Drives Strategic Sourcing Success
In 2005, Harvard Business Review published “Strategic Sourcing: From Periphery to the Core.” The article was an overview of the changing dynamic in an increasingly global world, where companies were moving away from the traditional business model of vertical...
5 Benefits of Strong Relationships in Strategic Sourcing
Happy International Day of Friendship! As a holiday officially recognized by the United Nations, the idea of a World Friendship Day was first proposed in 1958 by Dr. Ramon Artemio Bracho during a dinner with friends in Paraguay. Out of this meeting of friends, the...
Sourcing Automation vs. AI in Strategic Sourcing
There are many buzzwords regularly tossed around in this age of tech-based startups and digital transformation. Two such phrases are “Automation” and “Artificial Intelligence” (AI). It’s common to mix up the two, lump them together, or otherwise muddy the water of...
Push vs. Pull Supply Chain: What It Means for Strategic Sourcing During COVID-19
Supply chains have long relied on endless mounds of historical data to predict tomorrow’s seasonal trends. With disruption of global supply chains due to externalities like COVID-19, we have seen that our supply chains are fragile and easily disturbed. Consumers in...