EC Sourcing Group

APRIL 19, 2023

As consumers become more conscious of unethical supply chain practices and the impact of their purchasing decisions on local economies, companies are increasingly looking to local sourcing to support their communities and foster brand loyalty. It’s an overall win-win strategy for both businesses and the community.

Purchasing Skills

EC Sourcing Group

AUGUST 3, 2021

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. . Sourcing and Procurement Solutions: What Is Supply Chain Management and Why Is It Important?

Sourcing Strategies

EC Sourcing Group

DECEMBER 5, 2022

Contract Compliance and Strategic Sourcing. Contract sourcing and strategic sourcing are two different strategies that ensure you are able to get the best deals from your suppliers while still adhering to company policy. The two must work together to keep the source-to-contract process flow working effectively. .

Negotiating Skills

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 From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business.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

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

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

EC Sourcing Group

SEPTEMBER 28, 2021

One of the most important sourcing and procurement techniques is working with strategic suppliers and ensuring that you have a good relationship and understanding with this supplier base because this has a lot to do with the importance of quality in supply chain management. It goes much further than that.

Optimal Sourcing

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. . But, what makes the best sourcing software for your strategic sourcing solutions ? .

Optimal Sourcing

EC Sourcing Group

SEPTEMBER 14, 2021

As the process of procurement has become more automated, so has the strategic sourcing process and the components within it. Read on to learn more about what these are and how they fit into the strategic sourcing process. . The Strategic Sourcing Process: Define Strategic Sourcing. ??To How much are we spending?

Sourcing Strategies

EC Sourcing Group

JUNE 14, 2023

In the dynamic world of procurement , sourcing teams are constantly on the lookout for innovative strategies to drive cost savings and improve supplier relationships. With increasing interest from companies of all sizes around the globe, reverse auctions are revolutionizing the way sourcing teams approach negotiations.

Optimal Sourcing

EC Sourcing Group

DECEMBER 7, 2021

eSourcing in procurement falls under the umbrella of the procurement process, just as procurement fits within the supply chain. As the buyer, you need to utilize the right reverse auction procurement strategy. Procurement: What Is the Best Professional eSourcing Service? The Benefits of Procurement Software: Streamlining.

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

FEBRUARY 16, 2021

As the pandemic surges on, your sourcing and contract management strategies may still be struggling. . Provided everyone has access to the sourcing and supply chain management software, there should never be a misstep in the contracting process. We want to change the way you think about procurement.

Optimal Sourcing

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

SEPTEMBER 6, 2022

Why You Should Choose Companies with Green Supply Chains. There is no denying that companies with green supply chains are becoming more and more the norm. A green supply chain reduces the harm that may occur at any stage of the procurement cycle—production, purchasing, logistics, material management, or distribution.

Material Savings

EC Sourcing Group

APRIL 7, 2020

A crisis will shine a light on the weakest links in your supply chain. Wouldn’t we all like to have a supply chain built to withstand a ramming like the cruise ship RCGS Resolute? The current Corona virus pandemic will impact the supply chain of virtually every company. Single source suppliers.

Material Savings

EC Sourcing Group

AUGUST 24, 2021

Category management in procurement is an integral part of the procurement strategy in which procurement managers take specific products or services and divide them into certain categories. Create vendor KPIs to track performance , as it’s more important than ever to prevent supply chain disruptions in your categories.

Optimal Sourcing

EC Sourcing Group

OCTOBER 25, 2022

What is the Best Reverse Bidding Process and Strategy? Manufacturing companies are great candidates for using the reverse bidding process because it helps them identify cost savings and reduce inefficiencies in their supply chains. Reverse Bidding Process: The Best Strategies to Use. Manufacturing. Technology services.

Price Reduction

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. Reverse Auction in the Supply Chain.

EC Sourcing

EC Sourcing Group

JULY 20, 2023

The energy sector faces several unique procurement challenges, such as complex supply chains, volatile commodity prices, strict regulatory requirements, and the need for sustainable and socially responsible sourcing. Cost Optimization : Commodity prices in the energy sector can be highly volatile.

Optimal Sourcing

EC Sourcing Group

NOVEMBER 8, 2023

With deeper learning capabilities and more nuanced decision-making algorithms, AI is streamlining the most complex sourcing tasks, offering a significant competitive advantage to early adopters. Sustainable and Ethical Sourcing Sustainability and ethics are taking center stage in procurement processes. Why Act Now? Why Act Now?

Optimal Sourcing

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. Want to learn more?

Optimal Sourcing

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

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

SEPTEMBER 5, 2019

If you are considering new tools for your procurement team to manage procurement and supply chain functions, this assessment should be a good starting point. Is support technical only or is strategy included? Over the Labor Day weekend, I was finally tackling some home maintenance projects I had been avoiding.

Supply Chain Software

EC Sourcing Group

JUNE 28, 2022

Tail spend in procurement is important, but is seldom discussed compared to other procurement and supply chain processes. Once you’ve run analytics, choose one area to work on first by categorizing it and implementing a spend management strategy around it. We’ll help you get started on a tail spend strategy that works for you.

Optimal Sourcing

EC Sourcing Group

FEBRUARY 22, 2023

eAuction software has become an integral part of eSourcing, procurement, and the overall supply chain. For most companies, gone are the days of spreadsheets, endless phone calls and emails, and the tediously slow time it can take to source materials or services.

Supply Chain Design Software

EC Sourcing Group

APRIL 12, 2022

A reverse auction can be a very important tool, and if performed correctly, can affect the supply chain in a positive way. A reverse auction benefits suppliers as well as buyers, making these types of auctions a very important part of the supply chain. Your Guide to Reverse Auctions in 2022.

Supply Chain Software

EC Sourcing Group

AUGUST 1, 2022

eAuction tools are imperative to sourcing, affecting your sourcing , procurement management, and ultimately, the entire supply chain. However, eAuctions are simply auctions conducted electronically to have a transaction occur between the supplier and the buyer.

Supply Chain Software

EC Sourcing Group

JULY 5, 2022

is vital to procurement and the supply chain. 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. Real-time spend alerts.

Analysis

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. Supply chains are complex, often spanning the globe and involving numerous suppliers.

Supply Chain Design Software

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. For example, procurement, supply chain, and finance must be the key. eSourcing Software : Suite Solutions.

Procurement Solutions

EC Sourcing Group

APRIL 6, 2023

By doing so, organizations can ensure that their procurement processes are fair and inclusive, ultimately leading to better business outcomes and a stronger supply chain. It’s imperative for businesses to recognize the harm caused by unconscious bias in procurement and take proactive measures to address it.

Vendor Strategies

EC Sourcing Group

MAY 24, 2022

For example, if you streamline your sourcing and procurement processes, your supply chain also benefits. Ability to change bid strategy . However, buyers and suppliers are sometimes wary of trying the process, often based on one solitary myth: reverse auctions do not benefit suppliers, but this isn’t true at all.

Optimal 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. This also heavily ties in with mitigating risk—with this information, you can employ strategies to consolidate spend where appropriate, using eSourcing. So, what is it ?

Analysis

EC Sourcing Group

NOVEMBER 1, 2019

Outdated technology supporting any part of the supply chain. Margin pressure that increased the focus on short-term gains instead of long-term strategy. Noncritical categories that can be sourced from multiple suppliers offer the opportunity to be more aggressive.

Procurement Solutions