Strategic Sourcing

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  • strategic sourcing

    Strategic sourcing is an approach to supply chain management that formalizes the way information is gathered and used so that an organization can leverage its consolidated purchasing power to find the best possible values in the marketplace. 

  • procurement software

    Procurement software is a computer program or suite that allows an organization to automate the processes of purchasing materials and maintaining an inventory of goods. 

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    Procure to pay (purchase to pay or P2P) is the process of obtaining and managing the raw materials needed for manufacturing a product or providing a service. 

  • order to cash (OTC or O2C)

    Order to cash (OTC or O2C) is a set of business processes that involve receiving and fulfilling customer requests for goods or services. 

About Strategic Sourcing

Strategic sourcing and procure-to-pay process can be challenging, but new technologies can help. Get answers to the question "what is strategic sourcing?" and learn how to incorporate technology into the strategic sourcing process. Learn how to best leverage procurement software for the procure-to-pay process, the purchasing process and find out how to make the procurement cycle more efficient. Get best practices and expert advice for optimizing procure-to-pay processes within a strategic sourcing system.