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 […]
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 […]
Reverse Bidding in 2023: What You Should Know Reverse bidding is a technology that’s been around for a while, but it’s gained popularity due to the advancement of accessible new technologies that have enabled companies to gain a competitive edge in their respective markets. It’s predicted that by 2023, over $10 Billion will be spent […]
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. While efficient sourcing is achieved by finding, engaging, and evaluating vendors to get the best value and […]
Your Guide to eSourcing Platforms Not long ago, sourcing was still an “analog” process, with a lot of back-and-forth communication via phone calls, emails, and meetings in person. Technology has finally caught up with sourcing and procurement—evolving processes by leaps and bounds in a relatively short amount of time. Now, eSourcing platforms work to improve […]
Ethics in Sourcing and Procurement Management Conducting business ethically means that company stakeholders act appropriately and fairly. When considering ethics in procurement management, stakeholders must act with impartiality and be transparent in all business dealings. Practicing high ethical standards may be a challenging road, but it’s the right road, as taking shortcuts or acting unethically […]
How eAuction Software Simplifies Sourcing In an eAuction, multiple vendors compete directly against each other to win a contract to supply the buyer company with specific products or services. Also known as an eReverse auction, the technology has had a transformative effect over the last 25 years, leveling the playing field for vendors bidding on […]