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 From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business.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

NOVEMBER 8, 2023

The procurement world is on the brink of a new era. These innovations aren’t just upgrades—they are game-changers, reshaping the procurement landscape and setting the bar for what’s possible. The efficiencies and accuracies gained today lay the groundwork for more strategic and informed procurement decisions tomorrow.

Optimal Sourcing 52

Optimal Sourcing Analytics Software Optimization Software Sourcing Strategies 52

EC Sourcing Group

AUGUST 9, 2022

Sourcing is an integral part of procurement management and an upstream part of the supply chain, affecting its overall success. Sourcing is the acquiring of goods and services needed to run a business or make a product. . But, what makes the best sourcing software for your strategic sourcing solutions ? .

Optimal Sourcing 52

Optimal Sourcing Sourcing Strategies Sourcing Supply Chain Software 52

EC Sourcing Group

NOVEMBER 17, 2020

When you’re trying to control the entire procurement process within the supply chain, you want to make sure that you have the best software for your needs at your side so that everyone—you, vendors, and suppliers, are getting their needs met within the supply chain. Procure-to-pay operations. Thus, you’ll see a lot of: eSourcing tools.

Procurement Solutions 52

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

EC Sourcing Group

SEPTEMBER 28, 2021

In the world of procurement management , one thing that’s a given is working with suppliers. You may be unfamiliar with the terms or are unsure how to procure strategic suppliers—or you want to learn how strategic suppliers fit in the procurement world. Sourcing and Procurement Techniques: What Makes a Supplier Strategic?

Optimal Sourcing 52

Optimal Sourcing Manufacturing Procurement Supply Chain Software EC Sourcing 52

EC Sourcing Group

FEBRUARY 16, 2021

How to Streamline Contracts and Procurement (During the COVID-19 Pandemic). Streamlining contracts and procurement even before the COVID-19 pandemic may have been difficult. As the pandemic surges on, your sourcing and contract management strategies may still be struggling. .

Optimal Sourcing 52

Optimal Sourcing Procurement Sourcing Strategies EC Sourcing 52

EC Sourcing Group

FEBRUARY 28, 2022

What is Optimized Sourcing? eSourcing is an essential piece of how to optimize the procurement process, as the process deals with finding, selecting, collaborating, and evaluating current and potential suppliers. Sourcing Optimization: Software and Setting Rules. Still, it depends on your needs as a company.

Optimal Sourcing 52

Optimal Sourcing Modeling Sourcing Strategies Optimization Software 52

EC Sourcing Group

JULY 6, 2021

Optimizing Sourcing Decisions for Your Business. Whether you’re an SME or a larger enterprise, optimizing sourcing decisions is likely something that is quickly becoming a priority if it’s not on top of the to-do list already. Optimizing Sourcing Decisions : What Does Strategic Sourcing Mean?

Optimal Sourcing 52

Optimal Sourcing Optimization Software Sourcing Price Mitigation Strategies 52

EC Sourcing Group

MAY 25, 2021

Strategic sourcing and procurement are two words that should always be spoken together, as sourcing is perhaps the most important aspect of procurement. However, you should always ensure that you’re using strategic sourcing best practices and utilizing the best tools available.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Negotiating Skills Analytics Software 52

EC Sourcing Group

JULY 28, 2020

Objectives of Procurement Management. The objectives of procurement management can range from the most general, such as “buying goods and services,” to the more complex, such as “supporting organizational goals within the team.” What Is Procurement Management? Objectives of Procurement Management: Managing Contracts.

Manufacturing Procurement 52

Manufacturing Procurement Optimal Sourcing Procurement Analytics Procurement Solutions 52

EC Sourcing Group

SEPTEMBER 7, 2021

The broader picture beyond procurement is the supply chain, as procurement (or purchasing) is just one step in the supply chain. . As there are many steps in the supply chain, there are many steps in procurement and procurement management. Spend Analysis in Supply Chain Management. Read on to learn how.

Analysis 52

Analysis Material Savings Manufacturing Procurement Supply Chain Software 52

EC Sourcing Group

APRIL 19, 2022

eSourcing is a digital way to source suppliers. eSourcing is a small yet vital part of procurement , which affects the overall supply chain in a positive way if it’s carried out correctly. Your software should have itemized ranking, analytics, and real-time feedback. Time-saving. Improves buyer-supplier relationships.

Analytics Software 52

Analytics Software Optimization Software Optimal Sourcing Supply Chain Software 52

EC Sourcing Group

FEBRUARY 11, 2022

A reverse auction is an important part of procurement as procurement is vital throughout the entire supply chain. Some advantages to reverse auctions include cost and time savings, and discovering new suppliers. Some of the features you should consider include: Ability to watch bids in real-time via the Internet.

Analytics Software 52

Analytics Software Optimization Software Optimal Sourcing Demand Planning Software 52

EC Sourcing Group

MARCH 29, 2022

eSourcing is such an essential part of procurement. When eSourcing is optimized, it can positively affect procurement and the overall supply chain. Your eSource system should include a source-to-contact centralized eSourcing management platform. eSourcing fits into procurement as procurement fits in the supply chain.

Optimization Software 52

Optimization Software Supply Chain Software Optimal Sourcing Tools 52

EC Sourcing Group

MARCH 23, 2021

If you’re using eTendering as part of your procurement software solutions , you’ve probably already noticed that there is a positive outcome between eTenders and ROI. To put the eTendering process simply, it means that you’ve taken your procurement process to a digital platform. We want to help you re-imagine procurement.

Negotiating Skills 52

Negotiating Skills EC Sourcing Analytics Software How To 52

EC Sourcing Group

MARCH 30, 2021

How to Optimize and How to Do eTendering. If you’re in procurement, you may have heard the term ‘eTendering’ and might be wondering how to do eTenderin g, considering it’s been quite a buzzword. . Essentially, it’s put in place to streamline your procurement process efficiently. What Is eTendering and Its Process?

Optimal Sourcing 52

Optimal Sourcing Optimization Software How To Price Mitigation Strategies 52

EC Sourcing Group

MAY 3, 2022

As a procurement professional, you want to develop processes based on strategic sourcing and ensure proper supplier evaluation and selection. Every company will characterize value differently, but most define success as reducing costs, saving time, and building a robust and sustainable supply chain that supports growth.

Material Savings 52

Material Savings Price Reduction Optimal Sourcing Waste Reduction 52

EC Sourcing Group

MARCH 14, 2022

Managing tail spend in procurement and the entire supply chain process is vital; poor tail spend management can lead to considerable loss. It’s estimated that just 80 percent of suppliers represent just 20 percent of an organization’s spend —so where does the other 20 percent go? Tail Spend Software: Identifying Tail Spend.

Procurement Solutions 52

Procurement Solutions Supply Chain Software Optimization Software Optimal Sourcing 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. Choosing an eco-friendly supply chain saves you both time and money. Best Sourcing Software : How Supply Chains Become More Sustainable. In March 2022, the U.S.

Material Savings 52

Material Savings Waste Reduction Supply Chain Software Vendor Strategies 52

EC Sourcing Group

JULY 12, 2022

Not all procurement and eSourcing software are created the same—perhaps your current solution lives up to expectations in some areas but the eSourcing module isn’t quite what you need. This is a fairly common problem, as businesses have different priorities and nuanced procurement needs. Do you know which is right for your company?

Procurement Solutions 52

Procurement Solutions Supply Chain Design Software Analytics Software Supply Chain Planning Software 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. is vital to procurement and the supply chain. They can help automate your process and streamline procurement and eSourcing. Real-time spend alerts.

Analysis 52

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

EC Sourcing Group

JANUARY 12, 2023

Procurement success is defined by the outcomes. Spend Visibility is the foundation of any mature procurement function because it identifies inefficiencies and areas of opportunity that lead to better decision-making and ultimately, better outcomes. The path to your desired outcomes may seem tricky, but Simfoni can help.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Procurement Solutions Procurement 52

EC Sourcing Group

MAY 24, 2022

Even those who don’t work in procurement or purchasing are familiar with auctions, whether they’ve used bidding sites, gone to a live auction, or seen one played out on TV. eReverse auctions can be very beneficial to procurement. eReverse auctions can be very beneficial to procurement. Abilityto see bids in real-time.

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Purchasing Skills Supply Chain Planning Software 52

EC Sourcing Group

FEBRUARY 12, 2020

A surprising number of companies have similar goals for their procurement and supply chain. I often find that many procurement professionals are surprised to learn that their issues are not unique. Significantly reduce cycle times. The reason is time. For stakeholders: What is the most time-consuming part of the process?

Procurement Solutions 52

Procurement Solutions Optimal Sourcing Procurement Cost Reduction Strategies 52

EC Sourcing Group

MARCH 12, 2023

Identify your data sources that can help identify supplier performance. The supplier is a third-party vendor that provides goods, materials, and services to your organization. While this isn’t necessarily a bad thing, it can make it difficult to choose the best supplier to fit your needs.

Procurement Analytics 52

Procurement Analytics Purchasing Skills Procurement Solutions Supply Chain Planning Software 52

EC Sourcing Group

JUNE 1, 2021

How to Master Your Strategic Sourcing Process. Suppose you’re new to strategic sourcing, or you’re just taking a look at your strategic sourcing methodology to ensure that you’re following best practices. Read on to learn more about strategic sourcing, its meaning, benefits, and ways to enhance your sourcing processes. .

Negotiating Skills 52

Negotiating Skills Sourcing Strategies Optimal Sourcing Negotiate Pricing 52

EC Sourcing Group

APRIL 12, 2022

A reverse auction is just what it sounds like; it is the opposite of a regular auction. However, even valuable tools can be improved upon—read on to learn how to improve your reverse auction strategy in 2022. Not all online auction portals are the same, so take time to research which may be a good fit for you and your suppliers.

Supply Chain Software 52

Supply Chain Software Optimal Sourcing Sourcing Strategies Material Savings 52

EC Sourcing Group

JANUARY 21, 2020

What if key decision makers from procurement, finance and operations could meet in a room or in a Zoom meeting and run 15, 20 or 25 scenarios in an hour? If this technology was available and straightforward to learn, wouldn’t you be just a bit curious to see it? Notice the word “acceptable” not optimal. Seeing is believing.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Meeting Negotiating Skills 52

EC Sourcing Group

MAY 21, 2020

What Is Procurement Management? If you’ve asked yourself, “ what is procurement management ?” the simple answer is that it is a strategic way to manage and optimize the way your organization spends money, typically with the end result of creating a product. What Is Procurement Management? How to Make it Simpler.

Procurement Solutions 52

Procurement Solutions Optimal Sourcing Procurement Purchasing Skills 52

EC Sourcing Group

MARCH 22, 2023

Procurement compliance plays a crucial role in ensuring that organizations adhere to strict guidelines and regulations while acquiring goods and services. This not only safeguards a company’s reputation but optimizes operations and drives cost savings. Ensure the negotiated pricing matches supplier invoices.

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Negotiate Pricing Procurement Solutions 52

EC Sourcing Group

JANUARY 18, 2022

With procurement and sourcing, eSourcing is one of the most important pieces. The trick with sourcing is to get quality products at a lower price to help save money while maintaining solid relationships with your suppliers. What Is the Reverse Auction Process? You can’t make products without obtaining goods and services.

Optimal Sourcing 52

Optimal Sourcing EC Sourcing Logistics Network Optimization Software Optimization Software 52

EC Sourcing Group

MARCH 2, 2021

Before the internet, all procurement processes were done with hard copies, which obviously could delay production. . However, moving to digital formats such as procurement software solution s, eTendering, and other types of procurement management tools can improve your entire procurement process.

Optimal Sourcing 52

Optimal Sourcing EC Sourcing Procurement Just-in-Time 52

EC Sourcing Group

SEPTEMBER 8, 2020

Going through the spend analysis steps is a very important part of the procurement management process. There are specific steps you can categorize and group analyses. Still, before you begin a full analysis, it’s important to ask certain questions about spend in the procurement and purchasing department. Categorize spending.

Analysis 52

Analysis Procurement Solutions Purchasing Skills EC Sourcing 52

EC Sourcing Group

SEPTEMBER 24, 2019

Most professionals in procurement want to develop a strategy to win consistently in negotiations. I am not referring to a method to get price concessions every time. There are also optimization tools in the market that are very challenging to use. This is where optimization tools can give you a significant strategic edge.

Negotiating Skills 45

Negotiating Skills Negotiate Pricing Price Reduction Optimal Sourcing 45

EC Sourcing Group

OCTOBER 20, 2020

There are quite a few steps when it comes to building an RFP (request for proposal), and in modern times, most corporations and businesses use RFP management software to aid them in the steps of the RFP process. . However, you may have integral vendor management features included in your E-procurement software, so this could be a non-issue.

Comparison 52

Comparison Procurement Solutions Analytics Software Software 52

EC Sourcing Group

FEBRUARY 9, 2022

Spend management refers to the process of managing company purchasing and relationships with suppliers to keep track of every dollar spent , resulting in procurement cost reduction. It’s estimated that 80 percent of suppliers represent just 20 percent of an organization’s spend, and 20 percent must be accounted for.

Procurement Analytics 52

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 52

EC Sourcing Group

FEBRUARY 7, 2022

Spend management refers to the process of managing company purchasing and relationships with suppliers to keep track of every dollar spent , resulting in procurement cost reduction. It’s estimated that 80 percent of suppliers represent just 20 percent of an organization’s spend, and 20 percent must be accounted for.

Procurement Analytics 52

Procurement Analytics Optimal Sourcing Procurement Solutions Material Savings 52