Is your eSourcing platform flexible enough to work as well with 3,000 suppliers as it is with 3 suppliers?
Most sourcing platforms have been designed with a range of RFX events in mind.
Some work well enough with a limited number of suppliers and items.
Others can handle massive events with hundreds or thousands of suppliers and a like number of items.
The ability to launch events in a day or within very tight deadlines can be important functionality.
The implementation timeframe is another aspect that varies widely by solution.
How do you determine what works best for your company?
It may surprise you to learn that in many organizations the current system is being used less than 40% of the time.
When a system is cumbersome or overly complex, it is natural to find an easier way.
We are all good at creating workarounds.
If you are living with a system that has made your daily work a grind, I encourage you to build a case for a solution that will be adopted. The quality of your life and stress level depends on it.
Here are some benefits of using your platform for all your events:
- Each event can be replicated in total or in part
- Any event or part of an event can be saved as a template
- Meta data from each event is automatically saved and searchable across the entire platform
- Updating of supplier information and qualifications can be done continually and automatically based on a predetermined timetable to streamline vetting.
- Suppliers who have been vetted can be invited to events individually or as part of a predetermined group with a few clicks
- Specific criteria allow line items to be parsed or hidden so suppliers only bid on what they can produce or service
- Express RFP templates allow for dozens of events to be launched the same day if necessary
- All data previously managed with spreadsheets now resides in the system
- The volume of historical data that can be analyzed grows and this enhances competitive advantage
- Suppliers are motivated to bid because it takes less time
- Standard reporting templates can be generated automatically
- Analysis can be modified and new permutations can be created on the fly and saved for future events only if it makes sense
- All communication is contained within each event so there is one version of the truth
- The knowledge and analysis created during an event can be used by anyone else in the group even after the originator leaves the company. You won’t have to spend time figuring out complex spreadsheets that someone else created.
Spreadsheets can be a valuable tool but compared to eSourcing tools they are antiquated.
The ROI on your investment in an eSourcing platform will come from increased competition in each event and from the knowledge base that will allow you to negotiate with all the data at your fingertips.
In my experience, suppliers that see that you are now using a sourcing tool realize the game has changed. They know they need to sharpen their pencil and step it up if they want to keep your business.
Building a case can be done in a few days not months.
Just think how much happier and productive you would be if you had a flexible platform in place.
Action Step: Finding the right system for your needs can seem like a challenging process but it doesn’t have to be. If you are uncertain where to start a procurement professional like myself can provide guidance and expertise to help your organization achieve the results you need.
If you want to go explore this topic in greater detail, please contact me. I invite you to request 30-minute discovery conversation. In my experience the next step will be apparent at the end of the call. I never assume that what I have to offer will be right for everyone, so don’t expect a sales pitch. You can reach me at 973-936-9672.
If you would like to know more ways to reduce costs without changing the way you do business, simply give me a call or send me an email with your contact information and the best time to reach you.
You Won’t Drift to Success©
Think about it and then take the next step.
Until Next Time, I Wish You Great Success in Your Business and in Your Life