EC Sourcing Group

JANUARY 19, 2023

S pend analysis in procurement is a longstanding concept, however, implementation can be difficult without the proper tools. Over the years, implementing this kind of analysis has become more accessible than ever with the advent of robust procurement tools and software.

Analysis 52

Analysis Procurement Solutions Analytics Software Logistics Network Optimization Software 52

EC Sourcing Group

DECEMBER 5, 2022

Contract Compliance and Strategic Sourcing. Compliance is one of the essential pieces of procurement management. It’s important to ensure that your vendors meet your company’s standards regarding all contracts and purchase orders. Decide on a sourcing strategy. Begin sourcing and choose a supplier.

Negotiating Skills 52

Negotiating Skills Sourcing Strategies Purchasing Skills Sourcing 52

EC Sourcing Group

APRIL 7, 2020

Highly specialized materials or services. What percentage of their total sales are our purchases? How will you let us know about expected material shortage or interruption in service? Action Step: Finding the right tools for your needs can be a challenging process but it doesn’t have to be. You Won’t Drift to Success©.

Material Savings 52

Material Savings Cost Reduction Strategies Sourcing Strategies Supply Chain Strategy 52

EC Sourcing Group

OCTOBER 26, 2021

Before the Internet was a vital tool in business, the supply chain was a much different place than today. However, the use of information technology in supply chain management has streamlined the world of procurement and purchasing through supply chain management, cloud software, and other types of IT that help boost supply chain efficiency.

Supply Chain Software 40

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

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. Identify your data sources that can help identify supplier performance.

Procurement Analytics 52

Procurement Analytics Purchasing Skills Procurement Solutions Supply Chain Planning Software 52

EC Sourcing Group

MAY 17, 2022

Your supply chain is the backbone of your business, no matter what role you play in purchasing and procurement. SCM includes all of the processes that transform raw materials into their final products. How you use analytics and your software is imperative. Opportunities for cost savings.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Supply Chain Optimization Supply Chain Software 52

EC Sourcing Group

JULY 20, 2021

Online Reverse Auction Solutions and Optimizations. Running a reverse auction is a critical part of the strategic sourcing process once you get a feel for how one works. There are some strategies and methods to become accustomed to the role of reverse auctions in strategic sourcing, so your reverse auctions will be more successful.

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Optimization Software Price Mitigation Strategies 52

EC Sourcing Group

MAY 31, 2023

Managing spending is a top priority for executive teams across industries, and purchase price variance (PPV) holds immense significance in controlling costs. PPV measures the variation between the actual purchased price and the standard baseline price of goods and services.

Negotiating Skills 52

Negotiating Skills Purchasing Skills Negotiate Pricing Procurement Solutions 52

EC Sourcing Group

JULY 14, 2020

Procurement Manager Responsibilities and Tasks. A procurement manager is also known as a purchasing manager and even the head of the purchasing department. The Procurement manager responsibilities are plentiful. Methods for Managing Procurement Risks.

Procurement Solutions 52

Procurement Solutions Procurement Purchasing Skills Vendor Strategies 52

EC Sourcing Group

SEPTEMBER 8, 2020

Going through the spend analysis steps is a very important part of the procurement management process. Read on to learn why cost spend analysis is so important and what the general spend analysis steps are to reduce spend at your company. There are specific steps you can categorize and group analyses. How often do we buy?

Analysis 52

Analysis Procurement Solutions EC Sourcing Purchasing Skills 52

EC Sourcing Group

DECEMBER 23, 2020

Reverse auctions, when conducted properly, can be a massive success as part of procurement management. The role of reverse auctions in strategic sourcing has diminished in recent years but is seeing a comeback in 2020 as companies look to find more savings in the pandemic. Reverse auctions work best with: Raw materials.

Material Savings 52

Material Savings EC Sourcing Purchasing Skills Price Reduction 52

EC Sourcing Group

AUGUST 10, 2021

Reverse auctions can play an important role in strategic sourcing , particularly because both buyers and suppliers have complete transparency using this approach. . However, even though they may be one of the primary strategic sourcing tools and techniques for some buyers and suppliers, they may fail for others.

Procurement Solutions 52

Procurement Solutions EC Sourcing Purchasing Skills Sourcing Strategies 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. Not all spend is covered by contracts, such as materials or services. Identify the procurement goals for each spend subcategory.

Procurement Analytics 52

Procurement Analytics Procurement Solutions Optimal Sourcing 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. Not all spend is covered by contracts, such as materials or services. Identify the procurement goals for each spend subcategory.

Procurement Analytics 52

Procurement Analytics Procurement Solutions Optimal Sourcing Material Savings 52

EC Sourcing Group

JANUARY 24, 2019

Last week I suggested that a procurement cockpit is an essential tool to manage your business in 2019. Today I will focus on KPIs that can provide deep insight into the efficiency and effectiveness of your operations, strategic sourcing efforts and how procurement systems are viewed internally. If it was always this easy.

Manufacturing Procurement 45

Manufacturing Procurement Negotiating Skills Purchasing Skills Procurement Solutions 45

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. Filter ALL spend through your P2P tool. Implement budget controls.

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Negotiate Pricing Procurement Solutions 52