How do you become more efficient and effective at sourcing?
Your organisation makes important sourcing decisions every day. Whether it's for a one-time capital equipment purchase, a major project, or ongoing supply of routine goods or services… clearly defining the need, establishing a competitive environment, and selecting the right supplier are all critical to obtaining the best value with the least risk.
Like many organisations, you likely have some or all of the following challenges:
- Many important purchases are being made without a structured, competitive process because it is seen as too cumbersome and time-consuming.
- When you do perform sourcing events, it's hard to involve all the right people to create requirements and evaluate suppliers.
- Considerable procurement manpower is required.
- Sourcing events may be inconsistently executed, hard to track, and lacking in transparency.
- You don't have a clear picture of your level of supplier risk.
By gaining a clear understanding of the underlying causes of these issues, and then applying the right tools to address them, you can expect to:
- Streamline the sourcing process using a variety of approaches, including electronic RFx/tender processes, reverse auctions, etc.
- Improve stakeholder results by making it practical for all the right people to collaboratively create RFx documents and evaluate supplier responses.
- Increase effective sourcing capacity by enabling well-structured processes across the organisation with less support required from Procurement.
- Reduce supplier risk with more objective supplier evaluation and RFx response scoring.
- Eliminate non-compliance risk by enforcing consistent, fair, and transparent sourcing events.