EC Sourcing Group

NOVEMBER 17, 2020

The importance of using supply chain management software is notable because of the importance of the supply chain itself. Read on to learn more about types of supply chain management software and how to pick the best type for your company’s needs. . Thus, you’ll see a lot of: eSourcing tools. Automated tools.

Procurement Solutions 52

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EC Sourcing Group

DECEMBER 13, 2021

What Is Vendor Sourcing? Generally speaking, vendor sourcing is when you choose vendors to supply you with either goods or services. In years past, vendor sourcing could be an intricate and lengthy process. Read on to learn more about auction vendor sourcing and more about the management process. Risk management tools.

Purchasing Skills 52

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EC Sourcing Group

MAY 17, 2022

Global supply chain optimization is simply taking a closer look at and revamping your current supply chain to operate at its best. Your supply chain is the backbone of your business, no matter what role you play in purchasing and procurement. Global supply chain optimization requires solid supply chain management (SCM).

Optimal Sourcing 52

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EC Sourcing Group

OCTOBER 5, 2021

How to Streamline Your Procurement Process from Weeks to Hours. When contract management and procurement software first arrived on the scene, overnight it became an easy way to streamline the procurement process. In addition, having software in many cases provides digital proof when something goes awry.

Procurement Analytics 52

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EC Sourcing Group

SEPTEMBER 20, 2022

Ethics in Sourcing and Procurement Management. When considering ethics in procurement management, stakeholders must act with impartiality and be transparent in all business dealings. Fortunately, eSourcing software now has features and benefits to promote transparency and collaboration while mitigating risk to ethical standards.

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Purchasing Skills Sourcing Strategies 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 Procurement Analytics Optimal Sourcing Procurement Solutions 52

EC Sourcing Group

JUNE 10, 2020

Methods for Managing Procurement Risks. There is always some level of risk when it comes to contract management in procurement. There are many risks in all stages of the supply chain, of which procurement is only a portion. There are many risks in all stages of the supply chain, of which procurement is only a portion.

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EC Sourcing Group

OCTOBER 4, 2022

Strategic Sourcing Solutions to Enhance Your Bottom Line. 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?

Negotiating Skills 52

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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

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EC Sourcing Group

JUNE 7, 2022

Everyone in the procurement and purchasing fields knows that sourcing is generally a process of getting the best product from top suppliers with good terms and price. The right eSourcing software is a central part of eSourcing best practices. Knowing when to use advanced eSourcing tools is imperative.

Procurement Solutions 52

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EC Sourcing Group

MARCH 14, 2022

Is Software Required to Manage Tail Spend. Managing tail spend in procurement and the entire supply chain process is vital; poor tail spend management can lead to considerable loss. The right tail spend software and procurement software can help you keep track of rogue spend by using tools such as tail spend analysis.

Procurement Solutions 52

Procurement Solutions Supply Chain Software Optimization Software Optimal Sourcing 52

EC Sourcing Group

NOVEMBER 1, 2022

Top 5 RFP Solutions for Manufacturing. The manufacturing industry has unique needs when it comes to purchasing. RFPs are an essential tool for managing complex manufacturing operations. Having the right RFP solutions for manufacturing can streamline your overall sourcing and procurement processes, keeping a stable supply chain.

Manufacturing Procurement 52

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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. Read on to learn how. Assemble these components into parts and products.

Analysis 52

Analysis Material Savings Manufacturing Procurement Supply Chain Software 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. Dig Into the Software.

Procurement Solutions 52

Procurement Solutions Analytics Software Supply Chain Design Software Supply Chain Planning Software 52

EC Sourcing Group

APRIL 26, 2022

The eTendering process is an integral part of procurement and the overall supply chain. eTendering, also known as eSourcing , is simply the act of conducting procurement online—namely, receiving and sending tenders using an online platform, like tender process software. Tangible benefits include: Reduced cost of purchases.

Optimal Sourcing 52

Optimal Sourcing Material Savings Cost Reduction Strategies Procurement Solutions 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. Here are the most common goals that have been shared with me: Eliminate manual intake and purchasing processes. The reason is time.

Procurement Solutions 52

Procurement Solutions Optimal Sourcing Procurement Cost Reduction Strategies 52

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

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EC Sourcing Group

MARCH 31, 2020

Procurement professionals must align stakeholders, define critical requirements, issue an RFP, develop a believable ROI and secure a budget to purchase a platform. Since no solution is right for every organization, they create multiple rankings based on five buying personas. . There are many quality tools available.

Procurement Solutions 52

Procurement Solutions Supply Chain Design Software Optimal Sourcing Optimization Software 52

EC Sourcing Group

SEPTEMBER 13, 2019

If you could automate the procurement process for low value items and gain control over tail spend, what would that mean for your company? Significant improvement in data quality. One underlying principle is that any process that you select to automate will be a significant improvement over what is being done now. One caveat.

Procurement Solutions 45

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EC Sourcing Group

SEPTEMBER 13, 2023

At Seaboard Corporation, a leading global agribusiness and key player in the grain and flour milling industry, this transformation was driven by the need to modernize their procurement process and stay competitive in a rapidly evolving business landscape.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Supply Chain Software Vendor Strategies 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. We’ll also cover why choosing the right spend analysis software is critical to success. Some include: Licensed software.

Analysis 52

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

EC Sourcing Group

SEPTEMBER 27, 2022

Not long ago, sourcing was still an “analog” process, with a lot of back-and-forth communication via phone calls, emails, and meetings in person. Technology has finally caught up with sourcing and procurement—evolving processes by leaps and bounds in a relatively short amount of time. eSourcing Platforms : The Must-have Tools.

Analytics Software 52

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EC Sourcing Group

MAY 3, 2023

When we make more environmentally friendly sourcing choices, we can reduce greenhouse gas emissions and minimize our impact on the environment. In our previous blog post, we discussed the benefits of sourcing locally.

Material Savings 52

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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. Read on to learn more about how the best eSourcing software can support green supply chain management, and the benefits of opting for green supply chains. .

Material Savings 52

Material Savings Waste Reduction Supply Chain Software Vendor Strategies 52

EC Sourcing Group

MARCH 12, 2023

Identify your data sources that can help identify supplier performance. Steps for building a supplier scorecard: Focus on the purpose of the scorecard by recognizing and determining the right measures and metrics, or, your KPI’s. Update the data frequently because interactions and transactions with the supplier change often.

Procurement Analytics 52

Procurement Analytics Purchasing Skills Procurement Solutions Supply Chain Planning Software 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. What is a reverse auction?

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Purchasing Skills Supply Chain Planning 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. Read on to learn more about online reverse auction solutions and optimizations and why reverse auctions are an important strategic sourcing tool.

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Optimization Software Price Mitigation Strategies 52

EC Sourcing Group

JUNE 24, 2021

Review of Procurement and Sourcing Technology Tools from EC Sourcing Group. FROM GUEST BLOGGER, KUMAR KANNEN at Procural www.procuralservices.com. I am going to dig into the fast-evolving world of sourcing technology from a practitioner’s perspective as part of an on-going series.

Optimal Sourcing 52

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EC Sourcing Group

SEPTEMBER 15, 2020

Once upon a time, companies had to manage purchasing departments and procurement management as though it was the Dark Ages. Everything was done by hand—there were no computer software programs to help, there were no emails, and there were no spreadsheets. . Verification of POs with your suppliers. Inventory maintenance.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Optimal Sourcing Vendor Strategies 52

EC Sourcing Group

JUNE 15, 2021

What is the Procurement Spend Analysis Process ? Spend analysis is one of the most important pieces of procurement management. Spend analysis will give you an honest insight into spend, how you can make significant changes, how you can decrease costs, and improve relationships with your suppliers. Who are we purchasing it from?

Procurement Analytics 52

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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

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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 40

Procurement Solutions Optimal Sourcing Procurement Purchasing Skills 40

EC Sourcing Group

AUGUST 4, 2020

An RFP, or a request for proposal, can be time-consuming and challenging to navigate , even if you are already using software to make the RFP process go more smoothly. Read on to learn more about different types of RFP management software and how you can reach a decision that’s best for your company. Usability and collaboration.

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EC Sourcing Group

JANUARY 26, 2021

The Best RFP Management Software in a Pandemic. Finding the best RFP management software can be challenging enough, but finding the right RFP management tools in a pandemic can be even more challenging. The Best RFP Management Software : What Are the Struggles? The Best RFP Management Software : What Are the Struggles?

Procurement Solutions 52

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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

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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. . Read on to learn how to perform an RFP software compariso n, and to decide which type of software may be best for your company.

Comparison 52

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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.

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