Commodity Management Features and Functions
Commodity management is the central sourcing function. Tools for analyzing global spend across many dimensions are needed to come up with optimum sourcing decisions. Tools to create and manage the supply plan give unambiguous direction to procurement.
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Commodity Planning
Many consider Sourcing to be the heart of SRM and commodity management to be the heart of sourcing. Advanced sourcing suites are rich in analysis and decision support technology to absorb huge amounts of data quickly and make intelligent sourcing decisions. They also lay the foundation of execution through the RFx process and managing performance against contracts. Risk management is an area which spans the full lifecycle, but is most associated with the sourcing function.
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Supply Plan
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Sourcing Features and Functions
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