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. What Are Sourcing Steps?

Optimal Sourcing

EC Sourcing Group

AUGUST 3, 2021

One of the most significant pieces when it comes to sourcing and procurement solutions is your suppliers. Sourcing and Procurement Solutions: What Is Supply Chain Management and Why Is It Important? Sourcing and Procurement Solutions: Identifying Strategic Suppliers.

Sourcing Strategies

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. Vendor categorization. Read on to learn how. Spend cube generation.

Analysis

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. Supply chain management is the big picture, of which procurement is merely a piece. Why Is It Important?

Manufacturing Procurement

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). Management doesn’t refer to suppliers being “under” you but instead refers to managing vendor transactions and cultivating good relationships with your third-party vendors or suppliers.

Procurement Solutions

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?

Sourcing Strategies

EC Sourcing Group

MAY 3, 2022

As a procurement professional, you want to develop processes based on strategic sourcing and ensure proper supplier evaluation and selection. Every company will characterize value differently, but most define success as reducing costs, saving time, and building a robust and sustainable supply chain that supports growth.

Material Savings

EC Sourcing Group

APRIL 6, 2023

However, many of these same organizations fail to consider the impact that unconscious bias can have on their procurement process. Unconscious bias refers to the attitudes or stereotypes that affect our decisions and actions without us even realizing it. Various types of unconscious bias can occur within procurement.

Vendor Strategies

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

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

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

MAY 17, 2023

Spend classification can often go unnoticed, despite its critical influence over successful procurement strategy. Streamlining Procurement Processes: Proper spend classification ensures a structured approach to eSourcing activities.

Optimal Sourcing

EC Sourcing Group

FEBRUARY 8, 2023

From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business. With the new sourcing methods and strategies available in 2023, you can eliminate those hassles and focus on what matters most—growing your business.

Optimal Sourcing

EC Sourcing Group

DECEMBER 8, 2020

There are many steps in the supply chain and sourcing and procurement that are tedious, but they must be completed to run the business smartly and efficiently. RFP automation software benefits your vendors and suppliers as well, which makes collaboration easier. . But, modern-day RFP software can handle all of these processes.

Supply Chain Software

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. It also contributes to reducing a company’s carbon footprint, which makes it more attractive to consumers. Risk reduction. In March 2022, the U.S.

Material Savings

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

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? Strategic Sourcing Solutions : Your Sourcing Tactics.

Negotiating Skills

EC Sourcing Group

JANUARY 26, 2021

When looking at a reverse auction vs. regular auction , a reverse auction is a viable option in sourcing and procurement, particularly if you’re working with new suppliers. read on to learn more about it and why it’s useful in procurement and in the supply chain overall. What Is the Reverse Auction Process? When to Use It.

EC Sourcing

EC Sourcing Group

JUNE 14, 2022

Spend analysis in procurement has always been an imperative, playing a vital role both in procurement management and the supply chain. The right technology offers a more precise spend cube but also increases supplier compliance, severely reducing procurement costs. So, what is it ? Full Visibility with a Spend Analysis.

Analysis

EC Sourcing Group

SEPTEMBER 21, 2021

eTendering has become a must in today’s global economy, particularly in the supply chain and procurement. Communication is usually top-notch, and costs are often reduced because you’re partnering with a familiar supplier, and together you can find ways to reduce costs on both sides of the table. Better vendors.

Negotiating Skills

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. They can help automate your process and streamline procurement and eSourcing. Some include: Licensed software.

Analysis

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 ? Some of the other benefits of this software include: .

Optimal Sourcing

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. Tail spend in procurement is important, but is seldom discussed compared to other procurement and supply chain processes. Reduced risk. Spend that is not actively managed.

Optimal 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

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

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. Is this the right vendor for you? eSourcing Software: So How Does This Work? eRFx capabilities.

Supply Chain Software

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. The Transformation The results were profound.

Procurement Solutions

EC Sourcing Group

AUGUST 30, 2022

Both buyers and suppliers benefit from eAuctions, as buyers have a more comprehensive choice for choosing suppliers, which levels the playing field for the vendors. This gives you a qualified list of vendors. Mastering Reverse Bidding : Vendor Vetting Process. Mastering Reverse Bidding : The Reverse Auction Process.

Buyer Training

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

EC Sourcing Group

JULY 26, 2022

Here are some types to consider: CPO Cockpit: Chief procurement officers acquire goods and services and use workflow management systems to meet a company’s organizational goals while reducing costs and increasing profit. This helps strategic decision-making in advance of market swings to manage supply and demand fluctuations.

Optimal Sourcing

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. When using advanced eSourcing tools, you’ll have a comprehensive eSourcing dashboard, a web-based, online platform where you’ll advertise sourcing needs.

Procurement Solutions

EC Sourcing Group

DECEMBER 28, 2020

There are many steps in the supply chain and sourcing and procurement that are tedious, but they must be completed to run the business smartly and efficiently. RFP automation software benefits your vendors and suppliers as well, which makes collaboration easier. But, modern-day RFP software can handle all of these processes.

Supply Chain Software

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

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. The supplier is a third-party vendor that provides goods, materials, and services to your organization. Identify your data sources that can help identify supplier performance.

Procurement Analytics

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. EC Sourcing’s eSourcing tool and optimizer www.ecsourcinggroup.com.

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. EC Sourcing’s eSourcing tool and optimizer www.ecsourcinggroup.com.

Optimal Sourcing

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 Discovery.

Procurement Solutions