Procurement Technology Review of EC eSourcing and EC Optimize EC Sourcing Group – A Practitioner’s Perspective by Kumar Kannen at Procural: I am going to dig into the fast-evolving world of sourcing technology from a practitioner’s perspective as part of an on-going series. Most reviews that I have seen are too high level and don’t […]
Could Your eSourcing System Be a Marketing Tool to Attract New Suppliers? Shouldn’t all suppliers be thrilled with the opportunity to do business with your company? Your eSourcing system should be an asset that makes responding to your RFPs a pleasure and not a dreaded chore. If fact, if your system helps suppliers respond quickly […]
The Impact of Limited Options in Procurement Procurement strategy can be a challenge when many of the traditional options are limited. Wouldn’t our job be easy if every product or service had multiple vendors or suppliers ready and willing to compete for your business? I was recently helping a client identify areas where a structured […]
Procurement Software Functionality Checkup With all the demands on time is it any wonder that most procurement professionals have little time to investigate or test the functionality of available procurement software. If you were looking for ways to save time and increase the capability of your procurement team what features and functionality would get you […]
Understanding the Costs and Margins of Your Suppliers Builds Trust Many sourcing professionals focus on their own costs first. I would recommend that understanding the costs and margins of your suppliers will build trust in the negotiation process. Relationships built on trust and transparency will yield higher profits for both parties. I understand that not […]
5 Tips for Better Vendor Management As you expand your business, the need for materials, products and services may grow so you can maintain efficient operations. Now more than ever you must rely on vendors to offer exceptional quality products and services at the rates that are affordable to your company budget. Having a reliable […]
Best Practices for Finding New and Better Vendors for Your Business Streamlining your bottom line ensures your business can bank a record ROI. One place to start with this is your vendors. Have you grandfathered in vendors since the beginning, simply because you felt obligated to stay with them? If so, consider these vendors may […]
Vendors are your security blanket when it comes to offering products to your customers. They are there when supply and demand rises, offering the products in a timely fashion and at the best prices so your company can stay in the black when it comes to operational expenses and sales profits. Building on a strong vendor relationship allows you to define the expectations you will have with the vendor and successfully manage your sourcing so those products flow unimpeded to their final destination.
Strengthening your vendor-supplier relationship is paramount to your business. It allows you to select the right supplier, get products at the right costs, and avoid questionable vendors that can compromise your supply chain.
How Supply Chain Management Can Affect Your eSourcing Businesses today know that their supply chains are a crucial differentiator and that global strategic sourcing is the foundation for a product’s competitive advantage. Even so, there remain several areas of disconnect between supply chain solutions and sourcing management. Sourcing has remained largely manual because existing software […]