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

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

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

DECEMBER 7, 2021

eSourcing in procurement falls under the umbrella of the procurement process, just as procurement fits within the supply chain. Automation is one of the more prominent benefits of procurement software, as it saves labor and time by eliminating repetitive tasks. Procurement: What Is the Best Professional eSourcing Service?

Procurement

EC Sourcing Group

OCTOBER 19, 2021

Reverse auctions will weaken the supply chain because it can cause tension with the suppliers. Competitive bidding also gives suppliers a chance to have their A-game on—if they are consistently losing bids, perhaps it’s time to look at the quality of their goods and services or their own supply chain to make improvements. .

Sourcing Strategies

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

APRIL 6, 2023

Moreover, this powerful combination of spend analytics and eSourcing technology can also help drive supplier diversity initiatives by providing insights into the diversity of a potential vendor’s supply chain. Ultimately, the goal is to achieve a diverse and inclusive supplier base that reflects the values and goals of your organization.

Vendor Strategies

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.

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. . Your buyers can access features such as: Data analysis.

Supply Chain Software

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

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

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

MAY 3, 2022

Many CPO’s don’t realize that a reverse auction strategy can play an important role in overall procurement strategy, allowing for access to a larger supplier base, more opportunities for cost savings, reduced cycle times, and improved relationships with suppliers, just to name a few. Multi-currency capabilities. Components.

Material Savings

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

SEPTEMBER 21, 2021

eTendering has become a must in today’s global economy, particularly in the supply chain and procurement. The X is just an easy stand-in for any feeler you put out along the supply chain. Provided you have the right software; the automation should streamline your sourcing process by at least 35 percent.

Negotiating Skills

EC Sourcing Group

DECEMBER 5, 2022

It’s important to ensure that your vendors meet your company’s standards regarding all contracts and purchase orders. 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. Monitor supply chains.

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. The right technology offers a more precise spend cube but also increases supplier compliance, severely reducing procurement costs. The right software will help you find and reduce rogue spend.

Analysis

EC Sourcing Group

JUNE 10, 2020

There are many risks in all stages of the supply chain, of which procurement is only a portion. Simply put, contract management is being in charge of contracts of vendors or for other parties. They will also be interested in reducing any inherent risks in their own organization.

Procurement Solutions

EC Sourcing Group

SEPTEMBER 20, 2022

Always aspire to reach the highest procurement management standards and the supply chain. You may be following the highest standards of ethical sourcing, but that doesn’t mean everyone around you is, including your suppliers. Make it a hard and fast rule not to accept gifts from vendors and suppliers. Proficiency.

Optimal Sourcing

EC Sourcing Group

JULY 5, 2022

is vital to procurement and the supply chain. If your team and vendors are confused by the change, and there’s quite a learning curve, eSourcing, procurement, and the supply chain may be affected by improper spend analysis. . What Is Spend Analysis : Choosing the Right Software. Spend data. Spend analysis.

Analysis

EC Sourcing Group

JUNE 28, 2022

Tail spend in procurement is important, but is seldom discussed compared to other procurement and supply chain processes. This describes any vendor not strategically or actively managed in procurement. Make sure automated sourcing platforms are connected to your P2P or ERP platforms. Reduced risk.

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. . Sourcing is a subtask of procurement, and as a result, the software is much different.

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 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

JULY 12, 2022

In other words, suite has many capabilities, from eSourcing to supplier management, but since it does not provide individual solutions for each supply chain or procurement need, it may fall short for many companies. Less risk of locking in a vendor. Best in breed lessens the opportunity to lock in vendors.

Procurement Solutions

EC Sourcing Group

SEPTEMBER 27, 2022

Now, eSourcing platforms work to improve on your strategic sourcing by simplifying it and making it more efficient. Ensuring you have the best eSourcing tools with features that fit your needs can streamline your sourcing process, positively affecting your procurement processes and supply chain.

Analytics Software

EC Sourcing Group

SEPTEMBER 13, 2023

Procurement stakeholders recognized the need for a centralized solution that could streamline their supply chain activities and provide transparency in a complex global operation. It offered a single platform to manage and centralize their supply chain operations, eliminating inefficiencies and communication gaps.

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. Is their supply chain well-managed and risk-averse?

Buyer Training

EC Sourcing Group

JUNE 7, 2022

However, with advanced eSourcing tools, you can streamline your sourcing process, unlock new opportunities, and be more strategic, improving your procurement process and supply chain. The more details you provide, the quicker you can eliminate suppliers who won’t fit your needs. Online Q&A portal. Online bid reviews.

Procurement Solutions

EC Sourcing Group

JULY 26, 2022

These diagnostic analyses help businesses predict market trends, optimize global supply chains, to make quicker, strategic decisions to pursue financial opportunities. A well-designed sourcing dashboard helps the CPO move projects ahead and view all events in one place using graphs, charts, and tags as guides/alerts.

Optimal Sourcing

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. Your buyers can access features such as: Data analysis.

Supply Chain Software

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 . Once it is configured, you can begin to invite vendors. Now you can begin to invite the vendors. Reference page creation . Analytics features. Post-bid analysis.

Optimal Sourcing

EC Sourcing Group

JANUARY 19, 2023

This software ensures you maintain focus on what happens after signing the contract with a vendor and that you are receiving the best post-possible value for your dollar. For instance, the ability to share transaction data can help reduce delivery delays. These five benefits, and more are easily achieved by having the correct tools.

Analysis

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.

Procurement Analytics

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. Think strategically about transportation spend. Network and commitments.

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. Think strategically about transportation spend. Network and commitments.

Optimal Sourcing