EC Sourcing Group

NOVEMBER 16, 2021

Effectively managing your suppliers is an integral part of the procurement process (and important to the entire supply chain as well). Without goods and services, nothing can be produced, which would make procurement impossible. Supply Chain Management Cloud Software: Long-Term Relationships. However, this isn’t true.

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EC Sourcing Group

JULY 21, 2020

Finding the Right Business Process Management Solutions. Business process management solutions refer to a broad set of tools that can help organizations and corporations effectively streamline their workflow and work more efficiently, given tools, and software. How Can E-Procurement Expedite Your Process?

Procurement Solutions 52

Procurement Solutions Procurement Analytics Modeling Software Supply Chain 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. The two must work together to keep the source-to-contract process flow working effectively. .

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 From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business.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

Optimal Sourcing Purchasing Skills Sourcing Strategies Negotiating Skills 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

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

NOVEMBER 1, 2022

Top 5 RFP Solutions for Manufacturing. The manufacturing industry has unique needs when it comes to purchasing. As an essential part of the global economy and a key driver of job growth, manufacturing organizations must find the best ways to stay competitive and increase efficiency. Engagement analytics. AI-powered proposals.

Manufacturing Procurement 52

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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

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. . eSourcing Software. eSourcing is part of the supply chain, and eSourcing is part of E-procurement. .

Manufacturing Procurement 52

Manufacturing Procurement Procurement Solutions Supply Chain Software Procurement Analytics 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. However, there are many goals and milestones along the way that need to be met to make this happen efficiently. Increase efficiency.

Procurement Analytics 40

Procurement Analytics Procurement Solutions Purchasing Skills Procurement 40

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

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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

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

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. In-house software.

Analysis 52

Analysis Analytics Software Supply Chain Design Software Supply Chain Planning Software 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

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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

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

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

Material Savings Waste Reduction Resource Reduction Procurement Solutions 52

EC Sourcing Group

APRIL 7, 2020

Single source suppliers. 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. This short list is not in order since the risk will be different for each company regardless of the type of supplier. A high-level roadmap.

Material Savings 52

Material Savings Cost Reduction Strategies Sourcing Strategies Supply Chain Strategy 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? All these benefits translate into hard cost savings and operational efficiency. Let me share how companies are using process automation tools to reap these benefits. One caveat.

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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. 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.

Procurement Analytics 52

Procurement Analytics Purchasing Skills Procurement Solutions Supply Chain Planning Software 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. Margin pressure that increased the focus on short-term gains instead of long-term strategy. Lack of visibility.

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. Ability to change bid strategy .

Optimal Sourcing 52

Optimal Sourcing Procurement Solutions Purchasing Skills 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

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

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

DECEMBER 1, 2020

Making RFPs (or request for proposals)is a necessary part of your procurement management strategy. Before the development of RFP software, purchasing and procurement departments would go through the process manually, which would take quite a bit of time and effort. The Best RFP Automation Software: Why Automation?

Procurement Solutions 52

Procurement Solutions Analytics Software Software Sourcing Strategies 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

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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

JUNE 15, 2021

What is the Procurement Spend Analysis Process ? Spend analysis is one of the most important pieces of procurement management. The Procurement Spend Analysis Process : What Is Spend Analysis? The basic principles of the procurement spend analysis process answers a series of questions. Who are we purchasing it from?

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EC Sourcing Group

JUNE 30, 2020

Ethics in Procurement Management. Ethics in procurement management is important, particularly because of your relationship with suppliers and vendors, typically to finish a job or a project. Read on to learn more about ethics in procurement management and how to handle specific situations that may come up. These are: Equity.

Procurement Solutions 52

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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.

Procurement Solutions 52

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EC Sourcing Group

OCTOBER 6, 2020

At one time, all of the steps for procurement management were completed by hand. When a procurement software platform was available, it was just a spreadsheet as part of an overall word processing package. Read on to learn more about how to choose the best procurement software and more about what procurement software is.

Procurement Solutions 40

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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

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?

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EC Sourcing Group

MAY 21, 2020

What Is Procurement Management? If you’ve asked yourself, “ what is procurement management ?” What Is Procurement Management? Before the age of the Internet or competent computer software that could streamline the process, the entire process of procurement management was all done on paper, in person, and with filing cabinets.

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