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. eAuction benefits are many—while they’re not the most viable choice for every sourcing […]
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 From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business. Think about it this way: Would you rather spend time focusing on the core aspects of your business or spend valuable time and money trying to […]
Spend analysis in procurement is a longstanding concept, however, implementation can be difficult without the proper tools. Spreadsheets are tedious to manage and make it extremely difficult to reap the benefits. Over the years, implementing this kind of analysis has become more accessible than ever with the advent of robust procurement tools and software. The benefits […]
Contract Compliance and Strategic Sourcing Compliance is one of the essential pieces of procurement management. 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 […]
Top 5 RFP Solutions for Retail Retail companies often have the most suppliers, and the most interaction with them, of any industry. That’s why if you’re in the retail industry, it pays to have the right RFP solutions in place. When a retail company is about to make a big-ticket purchase, they often utilize a […]
How Supply Chain Management Can Mitigate the Effects of Inflation Rising inflation can certainly disrupt the supply chain. However, those following best practices for supply chain management can mitigate the effects of inflation and keep things under control. According to supply chain consultant Pierre-François Kaltenbach, the “supply chain drives inflation, [and] inflation drives change in […]
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. Before dedicated eSourcing and eProcurement software, companies struggled to meet modern business needs with manual processes, paper trails, and endless spreadsheets. . Sourcing optimization software […]
Top 5 RFP Solutions for Manufacturing The manufacturing industry has unique needs when it comes to purchasing. Speed, for example, is a primary concern because you want to respond to changing market demands as quickly as possible. As an essential part of the global economy and a key driver of job growth, manufacturing organizations must […]
What is the Best Reverse Bidding Process and Strategy? Reverse bidding is the process by which one company bids against another to secure a specific item or service. Instead of buyers bidding on a product or service, suppliers gather to bid for a contract. This procurement process is becoming more popular in today’s competitive business […]
Your 2023 Guide to eRFx If you’re like most sourcing professionals, you probably rely on various software applications to help streamline your sourcing processes. But which applications should be in your toolkit? eRFx software should be an integral part of your eSourcing platform. Not only will using eRFx help you increase your cost savings, but […]
