EC Sourcing Group

MARCH 9, 2021

Top 5 Ways to Optimize Your Procurement Strategy. There are a lot of moving parts in procurement, and it’s easy sometimes to keep following the same processes you always have because you are achieving moderate success. Change when it comes to procurement, sourcing, and supply chain management makes people nervous.

Optimal Sourcing

EC Sourcing Group

AUGUST 24, 2021

Category management in procurement is an integral part of the procurement strategy in which procurement managers take specific products or services and divide them into certain categories. Retail was (and still is) an industry hit particularly hard by Covid-19, so scrambling for optimization is a must. How to improve.

Optimal Sourcing

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. So, what is supply chain management ?

Optimal Sourcing

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

EC Sourcing Group

MARCH 21, 2022

Sourcing is a vital piece of procurement and the overall supply chain itself. However, just about anything can be improved upon, and sourcing optimization and optimized operations can help streamline the process. Sourcing Optimization: Have a Sourcing Calendar or Pipeline.

Optimal Sourcing

EC Sourcing Group

SEPTEMBER 22, 2020

There are many terms when it comes to all levels of procurement management, which is a smaller part of the overall supply chain. Many companies and organizations have delved further, looking to tools such as advanced sourcing optimizers; to streamline this part of procurement management. Diversity .

Optimal Sourcing

EC Sourcing Group

JUNE 8, 2021

Where to Start if You’re New to Procurement Sourcing Solutions. There are many people who are not new to procurement and sourcing and its role in the supply chain but may be new to sourcing solutions and software. Procurement Sourcing Solutions : What Is Procurement Management?

Optimal Sourcing

EC Sourcing Group

FEBRUARY 9, 2021

How to Optimize Your eSourcing Award Strategy. Sourcing is one of the most important foundations of procurement—if you’re not able to find the right suppliers you need and source goods from them, procurement cannot occur, and the entire supply chain, in essence, crumbles apart.

Optimal Sourcing

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. Tail spend examples include purchases that are often too small to go through procurement, such as basic office supplies or employee gifts. Spend that is not actively managed.

Optimal Sourcing

EC Sourcing Group

NOVEMBER 8, 2022

??Meeting the Demand in Sourcing and Procurement. In recent years, considerable efforts have been made to simplify and streamline sourcing, procurement, and overall supply chains to meet demand more effectively. Sourcing and Procurement Optimization : Speed and Transparency.

Optimal Sourcing

EC Sourcing Group

JULY 26, 2022

These diagnostic analyses help businesses predict market trends, optimize global supply chains, to make quicker, strategic decisions to pursue financial opportunities. Read on to better understand of advanced analytics, their benefits, and how they will improve your sourcing outcomes. How To Use Advanced Analytics.

Optimal Sourcing

EC Sourcing Group

AUGUST 23, 2022

How to Optimize Your Sourcing in 5 Steps. Optimizing your sourcing has many benefits, including time and cost savings. Sourcing optimization involves finding the most cost-effective group of suppliers for your needs. Yet, true optimization goes a step beyond. Get the Best eSourcing Platform.

Optimal Sourcing

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. RFP Scoring.

Purchasing Skills

EC Sourcing Group

JANUARY 25, 2022

The process of procurement has significantly advanced in recent decades, mainly due to the internet and cloud-based applications that can help streamline the process. Today, the benefits of procurement software are many, but there are a lot of choices out there—having the right software is imperative for procurement optimization.

Procurement Solutions

EC Sourcing Group

JANUARY 25, 2022

The process of procurement has significantly advanced in recent decades, mainly due to the internet and cloud-based applications that can help streamline the process. Today, the benefits of procurement software are many, but there are a lot of choices out there—having the right software is imperative for procurement optimization.

Procurement Solutions

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. . Procure-to-pay operations. Includes purchase orders.

Procurement Solutions

EC Sourcing Group

JANUARY 4, 2022

Before the Internet, procurement was a tedious process. Naturally, this slows down the process of the entire supply chain. eSourcing in procurement leads to further procurement optimization. eSourcing in procurement leads to further procurement optimization. Procurement intake requests.

Optimal Sourcing

EC Sourcing Group

JANUARY 4, 2022

Before the Internet, procurement was a tedious process. Naturally, this slows down the process of the entire supply chain. eSourcing in procurement leads to further procurement optimization. eSourcing in procurement leads to further procurement optimization. Procurement intake requests.

Optimal Sourcing

EC Sourcing Group

JULY 20, 2023

The energy sector faces several unique procurement challenges, such as complex supply chains, volatile commodity prices, strict regulatory requirements, and the need for sustainable and socially responsible sourcing. Cost Optimization : Commodity prices in the energy sector can be highly volatile.

Optimal Sourcing

EC Sourcing Group

NOVEMBER 24, 2020

Using software in procurement management is an excellent way to help maximize proficiency and streamline your operations so that you not only increase production, you build better relationships with your suppliers, increase collaboration within your organization, and improve the entire supply chain process.

Analytics Software

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. However, the sourcing and procurement process flow constantly changes, and its needs do as well. .

Procurement Analytics

EC Sourcing Group

DECEMBER 29, 2020

Procurement software covers a lot of bases, and there are many facets to procurement management that could potentially be streamlined and automated if you haven’t done so already. Every procurement and purchasing department is different, and thus, everyone has a different set of needs and standards. Have inventory management.

Procurement Solutions

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. Principles of Ethics in Procurement Management. So, what exactly are ethics in procurement management? They are: Compliance.

Optimal Sourcing

EC Sourcing Group

JANUARY 11, 2021

In the entire supply chain, you, as a company, want to be able to deliver a final product to a buyer. There are many different stops within that supply chain along the way, such as procurement and procurement management. The Role of Reverse Auctions in Strategic Sourcing: What Is Strategic Sourcing?

Negotiating Skills

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

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

EC Sourcing Group

SEPTEMBER 7, 2021

Spend Analysis in Supply Chain Management. 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.

Analysis

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

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

EC Sourcing Group

DECEMBER 1, 2021

Demystifying Transportation Sourcing. 9/2/2021 – Guest Blog Post from Kumar Kannan of Procural. If you are like me, transportation sourcing is a mind boggling and complex field. This article is about creating value in transportation sourcing. This article is about creating value in transportation sourcing.

Optimal Sourcing

EC Sourcing Group

SEPTEMBER 2, 2021

Demystifying Transportation Sourcing. 9/2/2021 – Guest Blog Post from Kumar Kannan of Procural. If you are like me, transportation sourcing is a mind boggling and complex field. This article is about creating value in transportation sourcing. This article is about creating value in transportation sourcing.

Optimal Sourcing

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

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. What Is Contract Management in Procurement? .

Procurement Solutions

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

EC Sourcing Group

DECEMBER 28, 2021

Underneath the umbrella of supply chain management are procurement and the sourcing of goods and materials. When this is performed electronically through the internet, it is known as eSourcing or electronic sourcing. We want to help you reimagine the way you look at procurement.

Analytics Software

EC Sourcing Group

DECEMBER 28, 2021

Underneath the umbrella of supply chain management are procurement and the sourcing of goods and materials. When this is performed electronically through the internet, it is known as eSourcing or electronic sourcing. We want to help you reimagine the way you look at procurement.

Analytics Software

EC Sourcing Group

AUGUST 3, 2021

One of the most significant pieces when it comes to sourcing and procurement solutions is your suppliers. Read on to learn more about strategic supplier management and how it fits in the supply chain. . Sourcing and Procurement Solutions: What Is Supply Chain Management and Why Is It Important?

Sourcing Strategies