Three Keys To A Better eSourcing Process The eprocurement function’s relationships with its suppliers are typically the foundation of how the esourcing process and supplier management programs perform. Utilizing the seven keys in this report can serve as a catalyst to a series of processes that have a risk of becoming stagnant and repetitive over time. 1. KNOW YOUR SPEND […]
Top eProcurement Professionals Objectives For The New Year Value realization through non-sourcing activities is a critical objective for eprocurement professionals. Around 43% of eprocurement value arises from non-sourcing activities. These activities largely consist of Supplier Relationship Management, Contract Management and Spend Analysis. Supplier Management can help companies have clearer visibility into supplier deliverable and offer benefits to remove hidden cost drivers, […]
Understanding Potential Supplier Risk with eSourcing Platforms The Internet and new international transport solutions have revolutionized global markets. Businesses that operate internationally or globally are now searching worldwide when finding suppliers and vendors and esourcing platforms are leading the way for these businesses to make the correct and wise decisions. Rifling through tens of millions of global suppliers can initially […]
eSourcing Solution: 5 Key Considerations Before Selecting a Tool For those of you who still don’t know what eSourcing is, here is a clear definition. “eSourcing is the online automation of the sourcing activities using a secure web-based collaborative tools. The use of an eSourcing solution reduces costs and supplier risks while increasing profit.” Now, let me explain why companies […]
Technology is Changing How We Treat RFX eProcurement, in its simplest definition, is the acquisition of goods and services and rfx is how we can utilize eProcurement to the highest ability . From the years of bartering with a neighbor to computer operations, observing the gradual progression in technology will deliver you to current day procurement. Advancements in technology allows eprocurement […]
Why is the use of an eSourcing Tool Adoption and Utilization Still So Low? It would be difficult to find a procurement professional that would argue a manual based sourcing process is better than utilizing an eSourcing tool. eSourcing is more efficient, improves quality, and generates better results. Yet eSourcing tool utilization and adoption is still behind the times. Many […]
Your Company Needs an eSourcing Technology Tune Up Most auto manufacturers use a careful mix of considerations to create a car that will appear attractive and alluring to a large audience, will meet environmental, safety, and other required standards, and will result in a large profit. And for the most part, consumers are just fine with these things. But have you […]
Why eProcurement Systems Should Be Thankful This Thanksgiving As we approach the upcoming holidays, our schedules can become incredibly busy, and with Thanksgiving today we have a lot to be thankful for as an eProcurement company. It’s easy to forget the true meaning of why we celebrate Thanksgiving though. So, in order to energize your hearts, start counting your blessings! […]
RFx Factories: Luxury or Necessity? RFx factories are virtual support teams that configure and manage eSourcing events for corporate buyers. Outsourcing these activities to service providers is standard practice amongst large corporations. Although the hassle-free access to skilled workers and reduced labor cost is attractive, there are some challenges to overcome as well. Are RFx factories luxury or a necessity? […]
3 Ways to Strengthen Your Online Procurement In Sigi Osagie’s book, “Procurement Mojo: Strengthening The Function and Raising its Profiles”, Osagie describes the kind of “mojo” that’s essential for online procurement professionals to be successful on the job. According to Osagie, online procurement requires these five steps: 1) Build a successful procurement organization 2) Deploy fit-for-purpose enablers 3) Adopt robust supply base management […]