Direct sourcing is a procurement strategy where organizations bypass intermediaries and purchase goods, materials, or services directly from manufacturers or suppliers. This approach allows companies to negotiate better pricing, improve control over quality, and reduce procurement costs by eliminating middlemen’s markup. Direct sourcing also enhances supply chain transparency and strengthens supplier relationships, leading to more consistent product quality and better delivery timelines. While it offers significant cost savings and greater efficiency, challenges include managing supplier relationships, ensuring logistics coordination, and mitigating risks, especially when dealing with international or complex supply chains.
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Maverick Spending
Maverick spending—also referred to as maverick buying, occurs when employees make purchases outside approved procurement processes, policies, or supplier contracts.
Supplier Lifecycle Management (SLM)
Supplier Lifecycle Management (SLM) — also known as Vendor Lifecycle Management — is the end-to-end, strategic management of a supplier
Purchase Requisition Software
Purchase Requisition Software is a digital solution that standardizes, automates, and governs the process of requesting goods and services before
eSourcing Software
eSourcing software is a digital platform that automates, standardizes, and governs the strategic sourcing process — from supplier discovery and
Invoice Approval Software
Invoice Approval Software automates the review, validation, and authorization of supplier invoices before payment. It ensures that every invoice is
Supplier Management System (SMS)
A Supplier Management System (SMS) is an integrated digital platform that centralizes, governs, and optimizes all activities related to suppliers
