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 From lost opportunities to higher costs, outdated sourcing methods and traditional sourcing strategies can impede your success and the growth of your business.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 […]
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 […]
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 […]
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 […]
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 […]
How to Optimize Your Sourcing in 5 Steps Optimizing your sourcing has many benefits, including time and cost savings. Sourcing optimization involves finding the most cost-effective group of suppliers for your needs. Yet, true optimization goes a step beyond. Besides cost-effectiveness, you want to keep time restrictions, quality, and resources in mind. The best eSourcing […]