EC Sourcing Group

SEPTEMBER 7, 2021

If you’re executing your procurement strategies efficiently, you’re also continually running spend analysis reports. So, the question is, if your end goal is to boost ROI and reduce supply chain costs, are you using the right spend analysis technology ? Ensuring that all buying groups have switched to newly sourced suppliers.

Analysis 52

Analysis Material Savings Manufacturing Procurement Supply Chain Software 52

EC Sourcing Group

JUNE 14, 2023

In the dynamic world of procurement , sourcing teams are constantly on the lookout for innovative strategies to drive cost savings and improve supplier relationships. With increasing interest from companies of all sizes around the globe, reverse auctions are revolutionizing the way sourcing teams approach negotiations.

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Negotiating Skills Negotiate Pricing 52

EC Sourcing Group

NOVEMBER 9, 2021

If you’re still participating in a manual sourcing process, it’s likely time-consuming and frustrating at times. Over time, most aspects of sourcing and procurement have become digital (aptly named “eSourcing”), which has improved efficiency and cost for all of the supply chain. Cost Reduction: An Advantage of eTendering.

EC Sourcing 40

EC Sourcing Price Reduction Cost Reduction Strategies Sourcing Strategies 40

EC Sourcing Group

APRIL 7, 2020

If you would like to know more ways to reduce costs without changing the way you do business, simply give me a call or send me an email with your contact information and the best time to reach you. You can reach me at (973) 718-7071 x875. The call will be forwarded to my mobile phone if I am not in my office which is likely. .

Material Savings 52

Material Savings Cost Reduction Strategies Sourcing Strategies Supply Chain Strategy 52

EC Sourcing Group

SEPTEMBER 6, 2022

A green supply chain reduces the harm that may occur at any stage of the procurement cycle—production, purchasing, logistics, material management, or distribution. It also contributes to reducing a company’s carbon footprint, which makes it more attractive to consumers. Risk reduction. In March 2022, the U.S.

Material Savings 52

Material Savings Waste Reduction Supply Chain Software Vendor Strategies 52

EC Sourcing Group

OCTOBER 12, 2021

The strategic sourcing definition reads something similar to, “Strategic sourcing is a process in procurement that uses analysis, data collection, market research, negotiations, and contracting.”. It can help you make more confident, informed decisions on how to proceed as a company when sourcing. RFx software.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Negotiating Skills Supply Chain Optimization 52

EC Sourcing Group

APRIL 19, 2023

As consumers become more conscious of unethical supply chain practices and the impact of their purchasing decisions on local economies, companies are increasingly looking to local sourcing to support their communities and foster brand loyalty.

Purchasing Skills 52

Purchasing Skills Optimal Sourcing Sourcing Strategies Expense Reduction 52

EC Sourcing Group

NOVEMBER 16, 2021

With the right analytical tools, you can cut costs, find rogue spend, and make better decisions based on this data. To find out more about supply chain management cloud software or to receive a demo, contact us at EC Sourcing Group today at 973-936-9672 to speak with a member of our team.

Procurement Solutions 52

Procurement Solutions Analytics Software Logistics Network Optimization Software Supply Chain Software 52

EC Sourcing Group

AUGUST 31, 2021

Top 5 Sourcing and Procurement Techniques. With sourcing and procurement , a solid strategy is essential to ensure that your ROI is strong, your relationships with your suppliers are doing well, and that your team appropriately supports your stakeholders and company’s overall goals andobjectives. .

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Sourcing Procurement 52

EC Sourcing Group

FEBRUARY 16, 2021

As the pandemic surges on, your sourcing and contract management strategies may still be struggling. . To learn more about how to improve your contracts and procurement process, contact EC Sourcing Group today by dialing 973-936-9672. We want to change the way you think about procurement.

Optimal Sourcing 52

Optimal Sourcing Procurement Sourcing Strategies EC Sourcing 52

EC Sourcing Group

APRIL 26, 2022

One advantage is time- and cost-saving, which contributes to the importance of eTendering. Tangible benefits include: Reduced cost of purchases. Reduced cost of operations. Reduction and elimination of maverick spend. Reduced turnaround time. Measure business risk, costs, and objectives.

Optimal Sourcing 52

Optimal Sourcing Material Savings Cost Reduction Strategies Procurement Solutions 52

EC Sourcing Group

NOVEMBER 17, 2020

Provided that you have the best software to meet your company’s needs and your needs at the supply chain and procurement level, the main benefits have to do with reducing costs and saving time, both of which are often related.

Procurement Solutions 52

Procurement Solutions Supply Chain Software Supply Chain Planning Software Forecasting Software 52

EC Sourcing Group

JULY 21, 2020

Another benefit of E-procurement is reduced cost. E-procurement software also reduces the amount of paperwork involved (by quite a bit) and increases productivity for not just you, but also for your team, and even for your supplier. . With everything on your procurement dashboard, it helps protect against duplicate spending.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Modeling Software Supply Chain Software 52

EC Sourcing Group

JULY 7, 2020

Using eSourcing software reduces costs , saves time and maximizes your efficiency, offers you detailed supplier information so you can make a more educated choice, and helps ensure compliance. An eAuction can run, at any point in the eSourcing process once items have been identified and suppliers have been approved. .

Manufacturing Procurement 52

Manufacturing Procurement Procurement Solutions Supply Chain Software Procurement Analytics 52

EC Sourcing Group

OCTOBER 4, 2022

Strategic sourcing is vital to procurement and the supply chain overall, as it allows companies to gain the lowest cost of a good or service while minimizing supply chain risk. What Is Strategic Sourcing? As the name suggests, strategic sourcing has a strategy behind vetting and choosing suppliers.

Negotiating Skills 52

Negotiating Skills Purchasing Skills Sourcing Strategies Procurement Solutions 52

EC Sourcing Group

FEBRUARY 8, 2023

Legacy sourcing methods work against you. From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business. Sourcing Strategies in Procurement: What Is Traditional Sourcing?

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Sourcing Strategies Negotiating Skills 52

EC Sourcing Group

SEPTEMBER 21, 2021

Communication is usually top-notch, and costs are often reduced because you’re partnering with a familiar supplier, and together you can find ways to reduce costs on both sides of the table. or you’d like to request a software demo about eSourcing, contact EC Sourcing Group today at 973-936-9672.

Negotiating Skills 52

Negotiating Skills Negotiate Pricing EC Sourcing Sourcing Strategies 52

EC Sourcing Group

MAY 3, 2022

Many CPO’s don’t realize that a reverse auction strategy can play an important role in overall procurement strategy, allowing for access to a larger supplier base, more opportunities for cost savings, reduced cycle times, and improved relationships with suppliers, just to name a few. Multi-currency capabilities.

Material Savings 52

Material Savings Optimal Sourcing Price Reduction Waste Reduction 52

EC Sourcing Group

JANUARY 26, 2021

Because reverse auctions are a strategy , you don’t want to use them all the time, and want to make sure you use them at the right time. The role of reverse auctions in strategic sourcing is important, but you want more than one tool at your disposal. What Is the Reverse Auction Process? When to Use It. How They Work.

EC Sourcing 40

EC Sourcing Supply Chain Planning Software Supply Chain Software Sourcing Strategies 40

EC Sourcing Group

SEPTEMBER 13, 2019

Elimination or reduction of transaction costs. Elimination of nuisance suppliers. Reduced maverick spending. All these benefits translate into hard cost savings and operational efficiency. P-cards – eliminating purchase orders for recurring purchases saves significant time and money.

Procurement Solutions 45

Procurement Solutions Procurement Analytics Supply Chain Software Optimal Sourcing 45

EC Sourcing Group

OCTOBER 26, 2021

Cost reduction. To hear more about using information technology in supply chain management or to receive a software demo, contact EC Sourcing Group at 973-936-9672 today. Automation of the supply chain has resulted in resources (i.e., We want you to reimagine the way you think about procurement.

Supply Chain Software 40

Supply Chain Software Logistics Network Optimization Software Inventory Management Software Analytics Software 40

EC Sourcing Group

NOVEMBER 8, 2023

A closed-loop eSourcing platform integrates spend analytics to create a continuous, self-improving process that starts with smart spend analysis and extends through sourcing execution. Organizations that wait risk being outmaneuvered by nimbler competitors who will use these insights to optimize their sourcing strategies in real-time.

Optimal Sourcing 52

Optimal Sourcing Analytics Software Optimization Software Sourcing Strategies 52

EC Sourcing Group

JUNE 28, 2022

“Tail Spend” refers to all of the high-volume, low-cost expenses a company incurs that aren’t typically managed, let alone optimized. Once you’ve run analytics, choose one area to work on first by categorizing it and implementing a spend management strategy around it. Reduced risk. Increased productivity per FTE.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Analytics Software Optimization Software 52

EC Sourcing Group

JUNE 14, 2022

The right technology offers a more precise spend cube but also increases supplier compliance, severely reducing procurement costs. This also heavily ties in with mitigating risk—with this information, you can employ strategies to consolidate spend where appropriate, using eSourcing. Full Visibility with a Spend Analysis.

Analysis 52

Analysis Forecasting Software Vendor Strategies Analytics Software 52

EC Sourcing Group

JULY 20, 2023

Cost Optimization : Commodity prices in the energy sector can be highly volatile. Simfoni’s procurement solution leverages advanced analytics and market intelligence to analyze historical pricing data, identify cost-saving opportunities, and optimize sourcing strategies.

Optimal Sourcing 52

Optimal Sourcing Analytics Software Optimization Software Forecasting Software 52

EC Sourcing Group

DECEMBER 5, 2022

Contract sourcing and strategic sourcing are two different strategies that ensure you are able to get the best deals from your suppliers while still adhering to company policy. The two must work together to keep the source-to-contract process flow working effectively. . Decide on a sourcing strategy.

Negotiating Skills 52

Negotiating Skills Sourcing Strategies Purchasing Skills Sourcing 52

EC Sourcing Group

MAY 17, 2023

Spend classification can often go unnoticed, despite its critical influence over successful procurement strategy. Accurate classification of products, services, and suppliers forms the foundation for improved decision-making, cost optimization, and enhanced supply chain management.

Optimal Sourcing 52

Optimal Sourcing Negotiating Skills Negotiate Pricing Sourcing Strategies 52

EC Sourcing Group

FEBRUARY 1, 2022

In the past, governments and eSourcing managers would turn to documents and spreadsheets for Sourcing, but modern software provides much more robust features. Some benefits of eSourcing for local governments include: Improves efficiency by reducing bid cycle times. Frees up procurement professionals for other tasks.

Supply Chain Software 52

Supply Chain Software Optimal Sourcing Buyer Training Price Reduction 52

EC Sourcing Group

FEBRUARY 1, 2022

In the past, governments and eSourcing managers would turn to documents and spreadsheets for Sourcing, but modern software provides much more robust features. Some benefits of eSourcing for local governments include: Improves efficiency by reducing bid cycle times. Frees up procurement professionals for other tasks.

Supply Chain Software 52

Supply Chain Software Optimal Sourcing Buyer Training Price Reduction 52

EC Sourcing Group

JULY 5, 2022

The process of spend analysis has specific goals of efficiency and saving money by increasing visibility into spend, which can decrease overall procurement costs. However, these are important to achieve cost-effectiveness and savings. There are many benefits to spend analysis, and they go beyond cost-effectiveness and efficiency.

Analysis 52

Analysis Analytics Software Supply Chain Design Software Supply Chain Planning Software 52

EC Sourcing Group

NOVEMBER 1, 2019

Staff reductions that have increased the workload and might have caused staff turnover. Margin pressure that increased the focus on short-term gains instead of long-term strategy. Systems that don’t speak to each other and providers that aren’t interested in working with you to bridge the technology gap. You Won’t Drift to Success©.

Procurement Solutions 40

Procurement Solutions Procurement Cost Reduction Strategies Sourcing Strategies 40

EC Sourcing Group

DECEMBER 17, 2018

After the initial round of bidding they cut the field to 8 and asked for a best and final bid. Provided all of this at a 29% reduction in cost! Here is a brief overview of what they did: They scoured the US, Europe and Asia for suitable bottle manufacturers. Ultimately, they invited 18 companies to participate in the RFP.

Manufacturing Procurement 40

Manufacturing Procurement Negotiating Skills Negotiate Pricing Optimal Sourcing 40

EC Sourcing Group

FEBRUARY 12, 2020

Here are the most common goals that have been shared with me: Eliminate manual intake and purchasing processes. Significantly reduce cycle times. There are unique aspects for each company but far more similarities in the issues and related goals. Streamline supplier onboarding. Broaden the supplier base .

Procurement Solutions 52

Procurement Solutions Optimal Sourcing Procurement Cost Reduction Strategies 52

EC Sourcing Group

MAY 31, 2022

It’s estimated that approximately 90 percent of businesses use some procurement strategy to acquire goods and services. However, not everyone is using eSourcing software — a cost-effective, efficient way to source. eSourcing Software: Allows for Best Practices.

Supply Chain Software 52

Supply Chain Software Software Sourcing Strategies Optimal Sourcing 52

EC Sourcing Group

SEPTEMBER 5, 2019

Is support technical only or is strategy included? Is there a cost for this? If you would like to know more ways to reduce costs without changing the way you do business, simply give me a call or send me an email with your contact information and the best time to reach you. How is support provided?

Supply Chain Software 45

Supply Chain Software Procurement Supply Chain Strategy Material Savings 45

EC Sourcing Group

AUGUST 9, 2022

You can strengthen your relationship with your strategic suppliers by transparent sourcing software, fostering better communication and collaboration. Cost-effective. Sourcing is a subtask of procurement, and as a result, the software is much different. What Are the Features of the Best Sourcing Software ?

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Sourcing Supply Chain Software 52

EC Sourcing Group

MARCH 12, 2023

If you want to streamline your supplier evaluation process, increase supply chain efficiency, and reduce costs, building an ideal supplier scorecard is crucial. The supplier is a third-party vendor that provides goods, materials, and services to your organization.

Procurement Analytics 52

Procurement Analytics Purchasing Skills Procurement Solutions Supply Chain Planning Software 52