There are many challenges for achieving supplier rationalization and standardization. A typical tactic deployed by procurement organizations is trying to reduce the variety of similar items that the organization purchases. The reasons for this rationalization go beyond cost savings and can include: Supplier diversity initiatives Supply mitigation and management Going green Ultimately, standardizing is not as easy as it may first appear. Take, for example, an organization with multiple manufacturing plants, each of which buys tens of...
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Technology innovations, especially those driven by advancements in consumer buying, social technology, and big data management, can now be applied to pull together the complex web of suppliers, intangible deliverables, and inconsistent pricing and processes of indirect spend. These readily available technologies can meaningfully simplify the buying experience while optimizing other aspects of indirect spend cost such as supplier fees, terms and conditions, performance specifications, and performance management. If executed correctly, optimizing indirect spend adds...
MADISON HEIGHTS, MI, January 3, 2020 – Xeeva, Inc., a global provider of award-winning AI-based procurement solutions, today announced that it was named on CIOReview’s list of the “20 Most Promising Artificial Intelligence Solution Providers” for 2019. The annual listing from the technology magazine compiles 20 companies globally that are at the forefront of providing AI solutions that transform businesses. CIOReview selects companies that offer innovative solutions and services that meet end-user needs and provide a...