Three Principles for Inventory Excellence

Best-practice approach to sourcing & procurement

Cost optimization is a fundamental responsibility for sourcing & procurement teams in supply chain. But many teams struggle to make the right trade-offs between risk and value when pursuing cost improvements. 

Leaders in sourcing & procurement consider inventory impacts when making decisions about individual supplier relationships and the overall supplier portfolio.

Gartner studied their best-practice approach and identified three principles that all sourcing & procurement teams can apply to support inventory excellence while fulfilling functional objectives for cost-optimized supply. 

Download the research to learn how sourcing & procurement teams can both reduce material supply cost and avoid inventory waste and risk.

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    Sourcing & procurement becoming more critical

    Not only are we more reliant on suppliers than ever, but also how we use suppliers is changing: More than 70% of sourcing & procurement professionals report using suppliers to tap into new-in-kind technology services or something outside of their organization’s core business model. It’s the role of sourcing & procurement to unlock new value from the supply base and protect the organization from future disruption. 

    Gartner can help: Our insights, advice and tools for sourcing & procurement leaders are designed to support performance management, risk mitigation, value creation and innovation of the sourcing & procurement team as well as suppliers. Learn more on gartner.com.