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? eRFx tools.

Sourcing Strategies

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 1, 2022

eAuction tools are imperative to sourcing, affecting your sourcing , procurement management, and ultimately, the entire supply chain. software is typically cloud-based, which means nothing is stored locally at your location (or your suppliers’ locations), and all transactions are processed through the cloud.

Supply Chain Software

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. eSourcing software should be a part of your overall procurement software suite , and finding the best professional eSourcing service depends on the procurement needs of your company.

Procurement

EC Sourcing Group

AUGUST 3, 2021

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? Before getting into strategic suppliers, it’s imperative to understand the big picture of supply chain management.

Sourcing Strategies

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. Expect shortages.

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. Having integrated procurement technologies at your disposal without knowing how to improve and implement changes doesn’t mean much. How to improve.

Optimal Sourcing

EC Sourcing Group

AUGUST 31, 2021

Top 5 Sourcing and Procurement Techniques. With sourcing and procurement , a solid strategy is essential to ensure that your ROI is strong, your relationships with your suppliers are doing well, and that your team appropriately supports your stakeholders and company’s overall goals andobjectives. .

Optimal Sourcing

EC Sourcing Group

FEBRUARY 16, 2021

As the pandemic surges on, your sourcing and contract management strategies may still be struggling. . First and foremost, having the right procurement software solutions in play can always keep everyone on the same page in that respect. or “Is that contract approved by legal yet” types of situations.

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. People may often get confused between the meaning of strategic suppliers and the meaning of strategic sourcing, but these are very two different things. How much are we spending? How often are we buying?

Sourcing Strategies

EC Sourcing Group

JANUARY 11, 2021

In the entire supply chain, you, as a company, want to be able to deliver a final product to a buyer. There are many different stops within that supply chain along the way, such as procurement and procurement management. The Role of Reverse Auctions in Strategic Sourcing: What Is Strategic Sourcing?

Negotiating Skills

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

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. Technology services. Reverse Bidding Process: The Best Strategies to Use.

Price Reduction

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 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. One thing I realized is that the tools I take for granted do make the tasks far more efficient. Will the casual user be able to utilize the tool without retraining?

Supply Chain Software

EC Sourcing Group

JANUARY 26, 2021

,” 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. you may also be wondering where it fits in the supply chain. Supply chain management is the overall infrastructure needed to get a product to a customer.

EC 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

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. Study the suppliers’ market.

Optimal Sourcing

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. Strategic Sourcing Solutions : Your Sourcing Tactics.

Negotiating Skills

EC Sourcing Group

JULY 5, 2022

is vital to procurement and the supply chain. We’ll also cover why choosing the right spend analysis software is critical to success. What Is Spend Analysis : Choosing the Right Software. An important piece of modern-day spend analysis in procuremen t is choosing the right software. Some include: Licensed software.

Analysis

EC Sourcing Group

DECEMBER 5, 2022

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. . Decide on a sourcing strategy.

Negotiating Skills

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. Spend analysis technology” and “ spend analysis software” are parallel terms, and automates the entire spending analysis system. So, what is it ? Risk Management.

Analysis

EC Sourcing Group

NOVEMBER 8, 2023

As 2024 approaches, a wave of technological advancements promises to redefine eSourcing , turning today’s best practices into relics of the past. Intelligent Automation and AI-Driven Analytics AI continues to be the powerhouse driving eSourcing into new dimensions of efficiency and insight. Why Act Now? Why Act Now? Why Act Now?

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. What Are the Must-have Features of eAuction Software?

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. Choosing the Right Auction Software.

Supply Chain Software

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

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. It’s important to understand your options when selecting procurement software to help you reach your goals. Dig Into the Software.

Procurement Solutions

EC Sourcing Group

JUNE 28, 2022

Tail spend in procurement is important, but is seldom discussed compared to other procurement and supply chain processes. Data can often be stored in different software or locations, or there may be subgroups within the organization, which can make it difficult to identify tail spend. Make Changes Slowly. Reduced risk.

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.

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

APRIL 6, 2023

Read More:- Guide to Procurement Software Simfoni’s Strategic Spend Terminal is a great example of an innovative eSourcing and analytics platform that can help organizations drive supplier diversity initiatives. Build a strong and diverse supplier base with Simfoni’s powerful Strategic Spend Terminal.

Vendor 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. Reverse auctions have emerged as a powerful tool that helps businesses achieve these goals.

Optimal Sourcing

EC Sourcing Group

DECEMBER 1, 2021

Applying sound sourcing principles will enable you to unlock value. Additionally, you can ensure that your supply chain is smoother and more predictable – less production downtime, less stock outs, and better promise to delivery for your customers. Technology in sourcing transportation. Is trucking a commodity?

Optimal Sourcing

EC Sourcing Group

SEPTEMBER 2, 2021

Applying sound sourcing principles will enable you to unlock value. Additionally, you can ensure that your supply chain is smoother and more predictable – less production downtime, less stock outs, and better promise to delivery for your customers. Technology in sourcing transportation. Is trucking a commodity?

Optimal Sourcing

EC Sourcing Group

MAY 24, 2022

For example, if you streamline your sourcing and procurement processes, your supply chain also benefits. Read on to learn more about what to do before you begin your first auction, features to look for in reverse auction software, and how the overall process works. Using the Right Software in a Reverse Auction.

Optimal Sourcing

EC Sourcing Group

NOVEMBER 1, 2019

Systems that don’t speak to each other and providers that aren’t interested in working with you to bridge the technology gap. Outdated technology supporting any part of the supply chain. Margin pressure that increased the focus on short-term gains instead of long-term strategy.

Procurement Solutions