EC Sourcing Group

AUGUST 3, 2021

How Do You Develop Strategic Relationships with Suppliers? 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. . What this leads to is a shared investment.

Sourcing Strategies

EC Sourcing Group

DECEMBER 13, 2021

In years past, vendor sourcing could be an intricate and lengthy process. There would be phone calls, faxing, and filing, but today, eSourcing software has streamlined that process to make procuring auction vendors much more efficient. Read on to learn more about auction vendor sourcing and more about the management process.

Purchasing Skills

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

JULY 7, 2020

What Is eSourcing in Supply Chain Management? If you work in procurement or the purchasing department, you’re already aware of how it works. If you’re wondering, “ What is eSourcing in supply chain management? ” it is roughly the same as a normal procurement process, except the procurement is performed on a digital basis. .

Manufacturing Procurement

EC Sourcing Group

OCTOBER 19, 2021

Read on to learn more about reverse auctions, the importance of strategic sourcing , the difference between tactical buying vs. strategic sourcing , and what to look for in strategic sourcing software. The Importance of Strategic Sourcing : Why Are People Scared to Use Reverse Auctions? Contract management tools.

Sourcing Strategies

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. Supplier performance analysis.

Optimal Sourcing

EC Sourcing Group

APRIL 27, 2021

When the topic of global sourcing comes up, procurement managers often balk at global sourcing in supply chain management because they worry they will have to sacrifice quality or delivery when using global suppliers. What Is Supply Chain Management? We want to help you re-imagine procurement.

Manufacturing Procurement

EC Sourcing Group

SEPTEMBER 28, 2021

What Are Strategic Suppliers? 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.

Optimal Sourcing

EC Sourcing Group

OCTOBER 27, 2020

In all stages of the procurement process, there are risks. There is the supply chain in the overall big picture, of which procurement is involved. Suppose you think about the main purposes of procurement. Statistically speaking, there will be much more than one risk within the supply chain and procurement process.

Supply Chain Design Software

EC Sourcing Group

OCTOBER 26, 2021

It was slow-moving, achieving the result (product or service) took a much longer time, and dealing with suppliers was a much different story. Read on to learn about the importance of quality in supply chain management, how IT helps to achieve that quality, and more details about the supply chain. Inventory management.

Supply Chain Software

EC Sourcing Group

AUGUST 9, 2022

Sourcing is an integral part of procurement management and an upstream part of the supply chain, affecting its overall success. Sourcing is the acquiring of goods and services needed to run a business or make a product. . What Are the Benefits of Sourcing Software ? Risk management. Contract management.

Optimal Sourcing

EC Sourcing Group

AUGUST 16, 2022

Unethical Sourcing Practices in Procurement and How to Avoid Them. In procurement, unethical practices can be hard to spot. It’s critical to understand what makes up ethical vs. unethical practices within your procurement function. Unethical Procurement Practices : Examples of Unethical Behavior.

Sourcing

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. Do you know which is right for your company?

Procurement Solutions

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. Previously, companies would use software such as spreadsheets, which were difficult to use and manage.

Analysis

EC Sourcing Group

MAY 31, 2022

It’s estimated that approximately 90 percent of businesses use some procurement strategy to acquire goods and services. However, not everyone is using eSourcing software — a cost-effective, efficient way to source. e-Sourcing is an important piece of the overall procurement management puzzle and plays a vital role in the supply chain.

Supply Chain Software

EC Sourcing Group

MARCH 14, 2022

Managing tail spend in procurement and the entire supply chain process is vital; poor tail spend management can lead to considerable loss. It’s estimated that just 80 percent of suppliers represent just 20 percent of an organization’s spend —so where does the other 20 percent go? Using Tail Spend Software for Management.

Procurement Solutions

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

EC Sourcing Group

NOVEMBER 15, 2022

A critical aspect of the following supply chain best practices is to have intuitive procurement software that provides insights and analytics to help navigate the uncertainty and make the best decisions for the future. Supply Chain Best Practices : The Effect of Inflation on Procurement & the Supply Chain.

Supply Chain Design Software

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. Managing transportation spend. Network and commitments. Final word.

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. Managing transportation spend. Network and commitments. Final word.

Optimal Sourcing

EC Sourcing Group

AUGUST 30, 2023

Achieving supplier transparency in procurement is often challenging, but it’s a crucial step toward ensuring that your supply chain operates ethically and sustainably. In a world where consumers and stakeholders increasingly demand responsible practices, supplier transparency has become paramount.

Supply Chain Design Software

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. Global supply chain optimization requires solid supply chain management (SCM). So, what is supply chain management ? Your relationships with suppliers are important as well.

Optimal Sourcing

EC Sourcing Group

MARCH 12, 2023

Identify your data sources that can help identify supplier performance. Update the data frequently because interactions and transactions with the supplier change often.

Procurement Analytics

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. There is no denying that companies with green supply chains are becoming more and more the norm.

Material Savings

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. You would have spent endless hours on phone calls with vendors and suppliers, keeping conversations and facts and figures straight. . Supplier Management.

Procurement Solutions

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. Today, the procurement management process doesn’t look like that at all, and you have easy procurement software and procurement tracking software to help you along the way. .

Procurement Solutions

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

EC Sourcing Group

NOVEMBER 1, 2023

In the ever-evolving landscape of manufacturing procurement , data plays a pivotal role in ensuring efficiency, cost-effectiveness, and strategic decision-making. However, global manufacturing businesses often face a unique set of data challenges that can hinder their procurement processes. Simfoni’s Spend Analytics 2.

Manufacturing Procurement

EC Sourcing Group

JULY 6, 2021

Whether you’re an SME or a larger enterprise, optimizing sourcing decisions is likely something that is quickly becoming a priority if it’s not on top of the to-do list already. Procurement optimization helps keep things moving, keeps your team on the same page , and saves your company time and money at the end of the day. .

Optimal Sourcing

EC Sourcing Group

JUNE 22, 2021

Sourcing and contract management is one of the biggest pieces of the puzzle when it comes to procurement, and managing your contract management system well is important. The Best Contract Management Systems : What Is the Contract Management Procurement Process?

System

EC Sourcing Group

JULY 29, 2019

This week I offer the most common challenges that are shared with me by procurement professionals. Spend management across all categories including tail spend. Automate supplier management – onboarding and updating. Central repository and management tool for all contracts. Optimize award scenarios in real time.

Optimal Sourcing

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. As a key metric for procurement teams, PPV reflects their effectiveness in delivering cost savings to the enterprise. Schedule a demo today!

Negotiating Skills

EC Sourcing Group

SEPTEMBER 13, 2022

Also known as an eReverse auction , the technology has had a transformative effect over the last 25 years, leveling the playing field for vendors bidding on contracts, removing human biases from the procurement equation, and identifying and negotiating with suppliers far more efficiently. Supplier management tools.

Sourcing Strategies

EC Sourcing Group

FEBRUARY 5, 2019

The majority of purchasing managers that contact me operate in chaos mode and want a roadmap out. Driving efficiency in sourcing and supplier management are common goals in purchasing and procurement. If it feels like your team continually finishes at the deadline or after, this is not an exclusive club.

Procurement Analytics

EC Sourcing Group

NOVEMBER 27, 2018

Some of the most common ones that have been shared with me by procurement professionals include: Complacency. Action Step: If you are uncertain where to start the process of change, a procurement professional like myself can provide guidance and expertise to help your organization achieve the results you want. Lack of time.

Purchasing Skills

EC Sourcing Group

OCTOBER 10, 2019

Action Step: If you are uncertain where to start the process of change, a procurement professional like myself can provide guidance and expertise to help your organization achieve the results you want. It will all start by asking a few pointed inquiries. Ask better questions, make changes and 2020 will be your best year ever.

Price Reduction