Cost Reduction Strategies
Cost Reduction Strategies & Identifying Savings Opportunities in Procurement

PROCUREMENT A company engages in procurement while sourcing products (or services) from suppliers and vendors.

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Vendor master data
Importance of Vendor Master Data in Strategic Sourcing  

What is Vendor Master Data?  A comprehensive supplier / vendor master allows sourcing specialists to

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ERP and Its Role in improving Supply Chain Process

Understanding ERP Enterprise Resource Planning (ERP) is a software that controls the finances, manufacturing, reporting,

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Procurement strategy – The key factors to be considered

The primary responsibility of the procurement function is to guarantee the availability of all raw

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Supplier relationship management – the best methods for achieving strategic objectives

The strategic management of a company’s relationships with its suppliers is known as supplier relationship

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Supplier relationship Management
Best methods to achieve strategic objectives for Supplier relationship Management

For many years, purchasing was viewed more as a transactional role that involved negotiating a

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How Data Cleansing and Enrichment leads to Inventory cost reduction

In order to eventually optimize inventory, it is imperative to have visibility into what the

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Custom taxonomy, What is Data taxonomy, What is Taxonomy
Why is taxonomy necessary for Spend Analysis?

What is taxonomy Taxonomy is a classification system that organizes and defines the relationships between

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Master Data In An Asset Intensive Organizations
Consequences of bad quality Master Data in an Asset Intensive Organizations

There are consequences to bad quality master data, which impact the organization across functions –

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strategic sourcing
Role of Strategic Sourcing in efficient Procurement Management

Why is strategic sourcing important? Strategic sourcing can provide considerable benefits to manufacturing companies, the

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