EC Sourcing Group

JUNE 17, 2020

Sourcing and Procurement in Supply Chain Management. The terms “ sourcing” and “procurement” in supply chain management are often used interchangeably, although they are not quite the same. Procurement is a process and one link in the chain of the supply chain. Procurement is one step in that process.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Solutions Purchasing Skills Supply Chain Design Software 52

EC Sourcing Group

JULY 29, 2021

eProcurement and eSourcing Solutions For Your Business. One of the most difficult things about searching for eProcurement and eSourcing solutions for your business is finding the right software to truly suit your needs. eProcurement and eSourcing Solutions : Some Must-Haves in eProcurement. Catalog management.

Procurement Solutions 52

Procurement Solutions Procurement Analytics Supply Chain Software Purchasing Skills 52

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

Procurement Analytics Optimal Sourcing Procurement Solutions Procurement 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.

Procurement Solutions 40

Procurement Solutions Optimal Sourcing Procurement Purchasing Skills 40

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

Manufacturing Procurement Procurement Solutions Supply Chain Software Analytics Software 52

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. Sourcing is the term used when the purchasing department is searching for the right supplier (or group of suppliers) to fill a particular need, typically a good or service, to fulfill a purchasing order.

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Procurement Solutions Sourcing 52

EC Sourcing Group

DECEMBER 13, 2021

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. Auction Vendors: The Basics of Vendor Sourcing.

Purchasing Skills 52

Purchasing Skills Optimal Sourcing Sourcing Strategies Negotiating Skills 52

EC Sourcing Group

MAY 28, 2020

What Are the Goals of Procurement Management? The goals of procurement management are generally to acquire goods and services with the highest quality at the lowest cost to create an end product. For instance, every purchasing department wants to lower costs and be more productive, so these are concrete goals. . Minimize risk.

Procurement Analytics 40

Procurement Analytics Procurement Solutions Purchasing Skills Procurement 40

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

Procurement Solutions Optimization Software Supply Chain Software Optimal Sourcing 52

EC Sourcing Group

JUNE 24, 2020

While there are particular benefits that occur when you use eSourcing and optimization, there are general benefits that ring true for any company that apply this method to procurement management. The software is intuitive if you can optimize it for what your need level is. Other Functions of eSourcing Software.

Optimal Sourcing 59

Optimal Sourcing Network Optimization Supply Chain Optimization Optimization Software 59

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

JULY 7, 2020

If you work in procurement or the purchasing department, you’re already aware of how it works. it is roughly the same as a normal procurement process, except the procurement is performed on a digital basis. . ” and how to manage your process better while running a digital eSourcing system. eSourcing Software.

Manufacturing Procurement 52

Manufacturing Procurement Procurement Solutions Supply Chain Software Procurement Analytics 52

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

Negotiating Skills Purchasing Skills Sourcing Strategies Procurement Solutions 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

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

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. There are many types of spend analysis software companies out there.

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 Supply Chain Design Software Analytics Software Supply Chain Planning Software 52

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

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

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

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

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 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? Let me share how companies are using process automation tools to reap these benefits. The first step is to identify as many manual procurement processes as possible that could be automated.

Procurement Solutions 45

Procurement Solutions Procurement Analytics Supply Chain Software Cost Reduction Strategies 45

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

FEBRUARY 8, 2023

If you’re still performing sourcing manually or are curious about how to streamline your sourcing methods , read on to learn about these five ways traditional sourcing methods hold you back, and why tech-enabled sourcing strategies in procurement are a far better choice.

Optimal Sourcing 52

Optimal Sourcing Purchasing Skills Sourcing Strategies Negotiating Skills 52

EC Sourcing Group

JUNE 28, 2022

Tail spend examples include purchases that are often too small to go through procurement, such as basic office supplies or employee gifts. Because purchases are small, they usually fall through the cracks, making it tough to gauge your overall spend. Keep in mind that tail spend encompasses many purchases and definitions.

Optimal Sourcing 52

Optimal Sourcing Procurement Analytics Analytics Software Optimization 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

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. Knowing exactly where you stand with compliance standards in contract sourcing is paramount.

Negotiating Skills 52

Negotiating Skills Sourcing Strategies Purchasing Skills Sourcing 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

Analytics Software Procurement Solutions Supply Chain Software Procurement Analytics 52

EC Sourcing Group

MAY 3, 2023

Reduce Your Carbon Footprint: Select Sustainable Suppliers with an eSourcing Tool By making the simple change of incorporating a sourcing tool into your purchasing process, you can increase the likelihood of selecting suppliers who prioritize sustainable practices and are aligned with your companies ESG (Environmental, Social, and Governance) goals.

Material Savings 52

Material Savings Waste Reduction Resource Reduction Procurement Solutions 52

EC Sourcing Group

MARCH 12, 2023

Identify your data sources that can help identify supplier performance. It could also be an incorrect purchase order, shipping number, billing address, date, and so on. COST AND PRICING : Organizations typically want the supplier who provides the lowest cost for goods.

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. eSourcing is one step of the supply chain process that will streamline your procurement processes and improve relationships with suppliers. How you use analytics and your software is imperative.

Optimal Sourcing 52

Optimal Sourcing Optimization Software Supply Chain Optimization Supply Chain Software 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. 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

NOVEMBER 1, 2019

If you could solve some or all these common procurement challenges how much better would life be for you and your team? Complicated onboarding or purchase processes that “motivates” rogue spend. I can count on one hand the number of procurement leaders that have told me that they aren’t dealing with any of these challenges.

Procurement Solutions 40

Procurement Solutions Procurement Cost Reduction Strategies Sourcing Strategies 40

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

AUGUST 11, 2020

At one time, all of the procurement process steps were essentially an “analog” process—in other words, everything was done on typewriters or by hand and filed in cabinets. Then, better computing and the Internet came along with the most basic types of procurement sourcing software , perhaps the first and most flexible: spreadsheets.

Procurement Solutions 59

Procurement Solutions Sourcing Strategies Purchasing Skills Sourcing 59

EC Sourcing Group

APRIL 7, 2020

What percentage of their total sales are our purchases? Action Step: Finding the right tools for your needs can be a challenging process but it doesn’t have to be. If there have been issues, how many segments of the business were impacted? Is their industry dealing with labor shortages, or could they?

Material Savings 52

Material Savings Cost Reduction Strategies Sourcing Strategies Supply Chain Strategy 52