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Strategicsourcing is a contemporary approach to supply chain management. In this post, we explain what strategicsourcing is, why it is important and how it can be implemented. In this post, we explain what strategicsourcing is, why it is important and how it can be implemented.
So what does “good” strategicsourcing look like? The primary difference between StrategicSourcing and “good” StrategicSourcing is contextualized flexibility. If Procurement follows a StrategicSourcing process flow like a checklist, then all StrategicSourcing projects will start and end in the same way.
Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategicsourcing.
The strategicsourcing technology market is a crowded space. Walk the exhibit floor at the annual ISM conference and you’ll easily find more than 40 providers offering a wide variety of e-sourcing solutions. So how do you know if you have the right sourcing technology for your business?
Perfect for new staff, or a five-minute refresher, the first issues are available now: Issue 1 – Introduction to Procurement Issue 2 – Importance of Ethical Procurement Issue 3 – Market Research Issue 4 – Solicitation Methods Issue 5 – Contract Evaluation and Award Issue 6 – The Value of Negotiations Issue 7 – Contract Administration Issue 8 – Contract (..)
Redwood City, CA September 21 , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions , today announced that Asian Paints successfully deployed Ivalua’s Contract Management and Supplier Information solutions to enhance their strategicsourcing processes.
He was the kind of guy you would not want to have to negotiate with way back in the day because he did not negotiate. He said he had seen it all in supply base management and had experienced the feeling of victory leaving plenty of blood on the floor in negotiating with suppliers in his day. He just stared at me.
When incorporated into an efficient strategicsourcing process, collaboration can result in better visibility into total costs and a better negotiation position. Product cost management over the life cycle of the product is required in order to meet financial performance goals.
This is precisely where organizations see the benefits of a TPRM program built into or working seamlessly with a StrategicSourcing or Source-to-Pay solution. The importance of a single supplier database and a 360 degree view of all information and activity is often underestimated.
The answer for many organizations is to ensure employees have access to pre-negotiated catalogues of goods and services which they can shop from on an as needed basis. This type of “Amazon”-like experience is commonplace in modern Source-to-Pay and Procure-to-Pay platforms and also greatly improve end user adoption.
Sprint’s strategicsourcing transformation, presents a great example, in multiple ways. First, their approach digitized not just the sourcing process itself, but also requirements gathering from the business, providing transparency into the pipeline and prioritization across the company.
demand aggregation As one strategy for meeting this obligation, both sectors look for opportunities for volume buying or ‘demand aggregation’ wherever possible and often approach strategicsourcing from a category management perspective.
Companies that maintained zero-sum, hard negotiation relationships with suppliers cannot suddenly reset those in a more collaborative mold. Look at overall margins throughout the supply chain and negotiate temporary price adjustments in return for future business, considering the relative financial stress of each party.
The deadline to avoid a government shutdown is September 30, although Friday, September 27 is seen as the target date for lawmakers to finalize negotiations before returning to their home districts to campaign until the election. Another option is a clean CR through December 2024.
Procurement Methods: Effective Techniques by Lourdes Coss Table of contents: Here's the table of contents for the book: Bids or Competitive (Sealed) Bids Objective and Application Invitation to Bid (ITB) or Invitation for Bid (IFB) Development Bid Evaluation Summary Request for Qualification (RFQ) Objective and Application RFQ Development RFQ Evaluation (..)
The four priorities of the BCI include: Leveraging Data Across Federal Agencies to Get Lower Prices and Better Terms; Negotiating Common Enterprise-Wide Software Licenses; Saving Money and Avoiding Waste by Getting Contract Requirements Right the First Time; and Getting Better Value from Sole Source and Other High-Risk Contracts.
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