6 Ways To Drive M&A Synergies Through Your Supply Chain
This bulletin looks at six supply chain focus areas that will enable a smooth M&A transition, drive synergies and achieve deal success.
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Services Procurement: A strategic Imperative
June 24, 2024 | Procurement Strategy
Enterprises globally are increasingly relying on external service providers to augment their operations and drive strategic growth. From the decades old technical support domain to management consulting to marketing and logistics, the service industry has grown to become an indispensable component of global businesses. But making way through the processes involved in procuring these services can be quite a task — demanding an intelligent balance between cost optimization, quality assurance and risk mitigation.
The Procurement Puzzle: Optimizing the Organizational Structure for Growth and Efficiency
June 04, 2024 | Procurement Strategy
Procurement plays a key role in business operations — irrespective of the scale. A solid organizational structure in place is therefore absolutely critical. During the initial phases when an enterprise is small, a more informal, improvised approach to procurement may suffice. However, as the company grows and its requirements get more complex, that same jumbled way of doing things would lead to inefficiency, missed cost-saving opportunities, and even compliance nightmares.
How to Build Resilience with Supply Chain Flexibility
June 03, 2024 | Supply Chain Strategy
Supply chain flexibility has become a critical capability for enterprises to maintain a competitive edge. Supply chain flexibility enables enterprises to quickly respond to unexpected disruptions, adapt to shifting market demands and pivot their operations as needed.
By fostering a flexible and adaptable supply chain using new AI-powered tools, companies can mitigate risks, minimize downtime and seize new opportunities, ultimately driving growth and profitability.
Navigating Global Expansion: Four Strategies for Chinese Companies To Create Success
This bulletin looks at the key challenges companies in China face while entering global markets and recommends procurement and supply chain solutions to adapt and achieve success.
5 Procurement Best Practices to Unlock Strategic Success in 2024
May 15, 2024 | Procurement Strategy
Procurement finally has a seat at the table.
It’s no longer just focused on cost-cutting. Enterprises now look to their procurement teams as strategic enablers – driving innovation, fortifying supply chains and future-proofing operations.
In 2024, strategic procurement leaders can drive success by focusing on five procurement best practices:
How Procurement Can Help BFSI Companies Overcome Talent Shortage
For BFSI organizations, talent is the greatest asset, and finding, attracting, and retaining the best has always been a priority. However, talent has been in short supply and attracting and retaining the right talent have been challenging.
How Centralized Purchasing Can Optimize Costs and Drive Efficiency
April 30, 2024 | Procurement Strategy
Businesses all over the world are in a perpetual race to seek newer ways to streamline procurement processes, reduce costs and increase enterprise-wide efficiency. With the purchasing function undergoing significant transformation in recent times, businesses are realizing the strategic importance of optimizing the procurement practice. Centralized purchasing — as a model — has gained traction as a potential solution to the challenges of fragmented buying.
How Demand Sensing Can Help Businesses Thrive in the New Normal
April 30, 2024 | Supply Chain Software
As a customer-centric business, how often can you effectively meet demand?
You may have missed out on revenue and sales opportunities because of a lot of fluctuations in demand.
At times, you would have found it difficult to predict customer behavior and accurately forecast demand.
What has caused changes in customer behavior and buying patterns?
Customers today are well-informed and aware of the larger macroeconomic climate, because of a series of unforeseen events in recent years. On many occasions, they have had to stock more stuff at home than usual.
Procurement Management Vs. Contract Management
April 24, 2024 | Procurement Strategy
Procurement isn’t done in isolation: effective supply chain management constantly evaluates performance in terms of cost, quality and delivery speed. Procurement specialists identify needs, find suppliers who can deliver at the best price, and negotiate beneficial terms, reaching finally a point where a contract is awarded to secure value.
But this is just the beginning of the process.
