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Strategic Sourcing



4% per sourcing event (savings that are actually implemented and "realized") Utilize a formal strategic sourcing process on 43% of their total spend Utilize e-sourcing across 20% of their total spend Employ advanced sourcing strategies on 15 to 40% of their sourcing initiatives Considering the benefits seen by the average e-sourcing program, it is surprising that a full 36% of this
Related to Strategic Sourcing: Decision Making, Direct Material Sourcing (DMS), E-procurement and Requisitioning, Supplier Relationship Management (SRM), Supply Chain Management (SCM), Supply Chain Optimization, SAP
R.G. Barry, a leading developer and marketer of accessory footwear, lacked real-time visibility into production schedules at its factories. As a result, the company built more safety stock, required long lead times, and could not quickly update customers on the status of their orders. Find out how a new Web-based global sourcing solution helped R.G. Barry free up cash and minimize the risk of carrying excess inventory.
Related to Strategic Sourcing: Inventory Analysis and Planning, Inventory Management, Supply Chain Management (SCM), New Generation Computing, Inc., Apparel Manufacturing
Developing a core competency in global sourcing is one of the critical business initiatives for retailers and channel masters. By understanding exactly how global sourcing strategies impact margins, retailers can develop creative product categories that push margins and profit higher. What do you need to master global sourcing techniques? What technologies should you use? Find out, with the five stages of global sourcing.
Related to Strategic Sourcing: Direct Material Sourcing (DMS), Global Logistics Solution (GLS), International Trade Logistics (ITL), Order Management, Strategic Sourcing Solutions, Supplier Relationship Management (SRM), Supply Chain Management (SCM), TradeStone Software
Deutsche Woolworth has been in business for over 75 years. After splitting off from its American parent company, the company?s restructuring efforts focused on purchasing processes. It was discovered that there was no purchase planning in place, and no visibility into shipments and goods en route from suppliers. The company deployed a solution that reduced inventory levels by up to 90 percent. Find out how.
Related to Strategic Sourcing: Direct Material Sourcing (DMS), Inventory Analysis and Planning, Strategic Sourcing Solutions, Supplier Relationship Management (SRM), Supply Chain Event Management, Supply Chain Management (SCM), TradeStone Software, Retail Trade
Rapid growth plus the need to continually offer new seasonal products led American Eagle to replace its old sourcing and order management systems while unifying product design, sourcing, and merchant processes. The company didn?t want to completely replace its legacy solution, however; it was important that its global supplier base adopt the solution too. Learn about the Web-based sourcing solution the company chose.
Related to Strategic Sourcing: Order Management, Strategic Sourcing Solutions, Supplier Relationship Management (SRM), Supply Chain Management (SCM), TradeStone Software, Clothing and Clothing Accessories Stores, Retail Trade
The global economic recession has put immense pressure on companies to cut costs?particularly IT-related expenditure. Companies were often forced to run only a few projects with regulatory impact and immovable deadlines, proceeding against very lean budgets. Recently, key economies such as the US and China have started to show signs of recovery. Learn more about how the recession has had an impact on IT investment.
Related to Strategic Sourcing: IT Infrastructure, Purchasing, Spend Management, Strategic Sourcing Solutions, Individual
In the automotive industry, purchasing has become a critical business component. Some experts estimate that a 4 percent reduction in sourcing costs can add as much to profits as a 10 percent increase in sales. With intense global competition putting constant pressure on vehicle prices, many companies see improved sourcing and procurement as key to increasing margins, profits, and competitiveness.
Related to Strategic Sourcing: Purchasing Management, Strategic Sourcing Solutions, Supplier Relationship Management (SRM), SAP, Management of Companies and Enterprises, Management, Scientific, and Technical Consulting Services
Outsourcing is increasingly embraced by manufacturers seeking ways to reduce costs, increase agility, and enhance market competitiveness. Yet poorly managed distributed manufacturing operations compromise visibility and quality control, which in turn erodes execution, management effectiveness, and profitability. To truly optimize the value of outsourcing, business systems and procedures must be deployed that create a collaborative, transparent information environment for manufacturing.
Related to Strategic Sourcing: Outsourcing, Strategic Sourcing Solutions, Supply Chain Event Management, Supply Chain Management (SCM), SAP, Information, Management of Companies and Enterprises, Management, Scientific, and Technical Consulting Services, Manufacturing
Procurement organizations have been running electronic reverse auctions for years. Nevertheless, the use of auctions has not yet reached full potential. We?ve all heard the objections?and every objection stems from valid concerns. However, if your goal is to conduct fair and open competition among your supply base, reverse auctions can be an effective tool for bringing transparency to sourcing.
Related to Strategic Sourcing: Strategic Sourcing Solutions, Supplier Relationship Management (SRM), SAP, Computer and Electronic Product Manufacturing
It?s only lately that people have been questioning the value of information they?re able to garner from within ?spend data? warehouses. Why can t we leverage traditional tools to give the sourcing and purchasing community what they want? To understand the limitations of traditional data-cleansing technology, and why spend data necessitates special algorithms, we need to start with the basics.
Related to Strategic Sourcing: Spend Management, Strategic Sourcing Solutions, Zycus, Information
Having realized the savings that can be generated by managing corporate spending, many organizations are now aiming to employ and leverage spend analysis to implement sourcing and procurement strategies. Is quality data the cornerstone of successful spend analysis? Most of us would say yes, without hesitation. However, if you dig deeper, you might be in for a surprise.
Related to Strategic Sourcing: Spend Management, Strategic Sourcing Solutions, Zycus
The UN Standard Products and Services Code (UNSPSC), the global product and services classification standard, has been revolutionizing purchasing and supply management across the world. Whether you?re deliberating on the need for a common product and classification standard for your company, or an advanced UNSPSC adopter, revisiting the basics can help you improve your purchasing and supply management processes.
Related to Strategic Sourcing: Spend Management, Strategic Sourcing Solutions, Zycus, Management of Companies and Enterprises, Management, Scientific, and Technical Consulting Services, Professional, Scientific, and Technical Services
External forces can knock your business off balance with no warning. Spikes in fuel prices, worker strikes, and shipping delays can significantly stress the supply chains of manufacturers, logistics providers, and retailers. To meet these external challenges, you need the capability to extend supply chain visibility, respond to changes in real time, and improve performance measurement across the entire chain.
Related to Strategic Sourcing: Collaborative Planning and Scheduling (CPS), Forcasting and Planning, International Trade Logistics (ITL), Production and Supply Planning, Strategic Sourcing Solutions, Supplier Relationship Management (SRM), Supply Chain Event Management, Supply Chain Management (SCM), Trading Partner Management, Transportation Management System (TMS), Warehouse Management System (WMS), Infor, Manufacturing, Transportation and Warehousing
Fuel marketers and distributors must act quickly to keep up with the volatile marketplace. Margins are narrow and fuel prices fluctuate constantly?and at the same time, you must coordinate a fast-paced replenishment cycle. To optimize the efficiency of your processes and improve the accuracy of your forecasts, there?s an oil and gas software solution that offers automated functionality for invoicing and billing, and more.
Related to Strategic Sourcing: Distribution and Warehousing, Replenishment Planning, Strategic Sourcing Solutions, Supply Chain Optimization, Warehouse Management System (WMS), SAP, Mining, Oil and Gas Extraction
Historically, sourcing and procurement companies have been concerned mainly with reducing costs and ensuring supply availability and quality. However, this is changing. Savvy businesses are moving beyond traditional sourcing and procurement goals, and looking to the procurement company to drive competitive advantage and deliver value. Discover the sourcing strategy tricks some successful companies are using.
Related to Strategic Sourcing: E-procurement and Requisitioning, Spend Management, Strategic Sourcing Solutions, Supplier Relationship Management (SRM), Supply Chain Management (SCM), SAP
 
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