For sourcing organizations to mature, they must understand both the complexity of the sourcing process and the intricacy of each step of the life cycle. Here are some best practices for sourcing ...

It has been decades since the discipline of strategic sourcing transformed purchasing practices within most companies.

The “speed sourcing” process involves several, critical short cuts: Instead of conducting an exhaustive review of the vendor marketplace, the customer limits its search to Tier 1 providers ...

In collaboration with SpendEdge, the client – an oil and gas company – developed a standardized and centralized procurement and sourcing process. The solution offered helped them to: Reduce ...

AI agents can independently gather information, analyze it, learn from experience and execute tasks,' Campbell told PE Hub.

Strategic sourcing is a process that involves internal collaboration with stakeholders and suppliers and has an impact on all facets of a business.

Brex explores the five types of procurement that organizations employ today and explains the advantages for specific business contexts and challenges of each approach.

A practical approach is to transform the sourcing process by pursuing prospective vendors with a prequalification and down selection mechanism.

A 2015 report by the World Economic Forum estimated that sustainable and ethical sourcing practices decrease supply chain costs between 9% to 16% while increasing revenues by up to 20% for ...