EC Sourcing Group

OCTOBER 12, 2021

Finding the right procurement optimization solutio n is imperative to keep your entire procurement management process running smoothly throughout the supply chain. Much of your optimization will be accomplished through the strategic sourcing process, one of the best ways to keep things optimized and seamless. Contract management.

Optimal Sourcing

EC Sourcing Group

OCTOBER 19, 2021

However, those who regularly use them as part of their strategic sourcing methodology understand the relationship between reverse auctions and success in strategic sourcing. . The Importance of Strategic Sourcing : Why Are People Scared to Use Reverse Auctions? The Importance of Strategic Sourcing: What Are the Benefits?

Sourcing Strategies

EC Sourcing Group

NOVEMBER 17, 2020

Vendor/supplier management. This can help you manage important information about strategic suppliers , as well as others. If you use a lot of the included vendor management software tools, you can help improve vendor relationships while also streamlining the process. Procure-to-pay operations. Spend analytics.

Procurement Solutions

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. Contract management. Risk management.

Optimal Sourcing

EC Sourcing Group

JANUARY 4, 2022

Supplier management tasks and notices. Contract Management alerts and tasks. Category management. In short, the benefits of eProcurement software equates to you saving time and money, while also building better relationships with your stakeholders and suppliers. Savings tracking. Procurement intake requests.

Optimal Sourcing

EC Sourcing Group

JANUARY 4, 2022

Supplier management tasks and notices. Contract Management alerts and tasks. Category management. In short, the benefits of eProcurement software equates to you saving time and money, while also building better relationships with your stakeholders and suppliers. Savings tracking. Procurement intake requests.

Optimal Sourcing

EC Sourcing Group

JULY 7, 2020

Using eSourcing software can help you build a better relationship with your suppliers, while also finding better suppliers for your needs at the same time. This type of software is a small but very imperative part of the overall Sourcing process. When you ask, ” What is eSourcing in supply chain management ? evaluation.

Manufacturing Procurement

EC Sourcing Group

DECEMBER 1, 2021

Demystifying Transportation Sourcing. 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. Applying sound sourcing principles will enable you to unlock value.

Optimal Sourcing

EC Sourcing Group

SEPTEMBER 2, 2021

Demystifying Transportation Sourcing. 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. Applying sound sourcing principles will enable you to unlock value.

Optimal Sourcing

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. It goes much further than that.

Optimal Sourcing

EC Sourcing Group

OCTOBER 27, 2020

To learn more about supply chain and risk management software , or to request a demo, contact EC Sourcing Group today by calling us at 973-936-9672.

Supply Chain Design Software

EC Sourcing Group

OCTOBER 26, 2021

The Use of Information Technology in Supply Chain Management: What Role Does IT Play? In modern times, you’ll see many cases of global sourcing in supply chain management, which has been made possible through the use of information technology in supply chain management. Logistics and shipping management.

Supply Chain Software

EC Sourcing Group

AUGUST 16, 2022

Unethical Sourcing Practices in Procurement and How to Avoid Them. Every company wants to save money, but the right sourcing software can help you manage spend and save money the right way. Extortion involves asking for an outright bribe or gift from a supplier or buyer, which can often be accompanied by a threat.

Sourcing

EC Sourcing Group

MAY 17, 2023

By classifying goods and services into logical groups, procurement professionals can streamline the eSourcing process, facilitating easier identification and comparison of suppliers, negotiating favorable contracts, and expediting the sourcing cycle. Want to learn more?

Optimal Sourcing

EC Sourcing Group

MAY 31, 2022

However, not everyone is using eSourcing software — a cost-effective, efficient way to source. Yes, you could source using manual processes, spreadsheets or the old back-and-forth method, but you wouldn’t be doing your company any favors. Previously, an analog sourcing method would take days or even weeks.

Supply Chain Software

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. Read on to learn more about sourcing optimization and how to achieve it in five simple steps.

Optimal Sourcing

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

JULY 5, 2022

Transform and integrate source spend data from key systems into one data set. Ability to integrate spend data to support source-to-pay cycle activities like supplier management, spend management, and savings project management. Supplier management. Ability to set spend thresholds. Categorize.

Analysis

EC Sourcing Group

JULY 12, 2022

Suite solutions can also be considered the best platform of its type, but unlike best in breed, suite programs are source-to-pay, where all of your procurement capabilities and software are interconnected. from supplier management to spend analytics), giving you more agility when responding more quickly to any business needs.

Procurement Solutions

EC Sourcing Group

SEPTEMBER 6, 2022

As we’ve previously discussed, the best sourcing software can help streamline sourcing and improve winning in reverse auctions, but global sourcing software can put you in touch with a larger field of suppliers so that you can cherry-pick the ones with the most eco-friendly supply chains. . Profit increase.

Material Savings

EC Sourcing Group

MARCH 14, 2022

Read on to learn more about tail spend software and how it can help in your overall supplier management and procurement management. One of the first pieces to manage tail spend is identifying where it is. Tail Spend Software: Identifying Tail Spend. Tail spend automation software can help accomplish this.

Procurement Solutions

EC Sourcing Group

NOVEMBER 15, 2022

Inflation is a problem in the United States, but it’s also a worldwide problem, which can adversely affect your supply chain , particularly if you practice global sourcing. Deep analytics and spend analysis should give you a thorough understanding of current markets, but many other things can be accomplished with solid sourcing software.

Supply Chain Design Software

EC Sourcing Group

MARCH 12, 2023

Steps for building a supplier scorecard: Focus on the purpose of the scorecard by recognizing and determining the right measures and metrics, or, your KPI’s. Identify your data sources that can help identify supplier performance.

Procurement Analytics

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

Global supply chain optimization requires solid supply chain management (SCM). So, what is supply chain management ? Global supply chain optimization is simply taking a closer look at and revamping your current supply chain to operate at its best.

Optimal Sourcing

EC Sourcing Group

AUGUST 11, 2020

Then, better computing and the Internet came along with the most basic types of procurement sourcing software , perhaps the first and most flexible: spreadsheets. There are many different types of types of procurement software and procurement sourcing software on the market in modern times, which can effectively make your job easier. .

Procurement Solutions

EC Sourcing Group

JULY 6, 2021

Optimizing Sourcing Decisions for Your Business. 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. Optimizing Sourcing Decisions : What Does Strategic Sourcing Mean? Risk management.

Optimal Sourcing

EC Sourcing Group

SEPTEMBER 15, 2020

Automation ( procurement automation software ) that sends POs to suppliers. Award Management . Contract Management. Supplier Management both on-boarding and performance management. Supplier Risk Management. Inventory maintenance. Data collection and analysis, also known as Spend Analysis.

Procurement Solutions

EC Sourcing Group

SEPTEMBER 13, 2022

How eAuction Software Simplifies Sourcing. 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.

Sourcing Strategies

EC Sourcing Group

JULY 14, 2020

One part of the procurement process that falls under the cloak of procurement manager responsibilities is assessing and managing risks. One of the best things you can do as a procurement manager is to use software to keep track of sourcing, invoicing, contracts, and due dates.

Procurement Solutions

EC Sourcing Group

JUNE 22, 2021

Contract Management 101 : The Best Contract Management Systems. 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. However, it typically isn’t full supplier contract management software.

System

EC Sourcing Group

NOVEMBER 1, 2023

Data Normalization and Supplier Entries Inconsistent data entry for suppliers, including variations in naming conventions, can lead to data quality issues and hinder supplier management. This eliminates duplicate entries and streamlines supplier management.

Manufacturing Procurement

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. Sourcing tools that contain all the bids data inside each bid dynamically increase analysis speed.

Procurement Analytics

EC Sourcing Group

MAY 31, 2023

The Strategic Spend Terminal streamlines procurement processes, enhances supplier management , and empowers users to identify cost-saving opportunities by analyzing PPV trends and patterns. Managing purchase price variance is essential for controlling costs and achieving optimal financial outcomes.

Negotiating Skills

EC Sourcing Group

JULY 29, 2019

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. Mange scoring inside tool. Automate every manual process. Insightful spend analytics?.

Optimal Sourcing

EC Sourcing Group

NOVEMBER 27, 2018

If your supplier also sells to a key competitor one of you is giving up your competitive advantage. This is a solid reason to evaluate an alternative source. How important are you to each supplier? Suppliers want to keep your business because any lost business comes right off the top. Leverage works both ways.

Purchasing Skills

EC Sourcing Group

OCTOBER 10, 2019

What challenges will you face to improve supplier performance? Suppliers that have been in place for a long time – more than 5 or 10 years present one set of issues. Single source suppliers present another layer of obstacles to consider if their performance starts to slip or their pricing is putting a big squeeze on your profits.

Price Reduction