THE VALUE OF STRATEGIC SOURCING FOR PROCUREMENT PROFESSIONALS

Size: px
Start display at page:

Download "THE VALUE OF STRATEGIC SOURCING FOR PROCUREMENT PROFESSIONALS"

Transcription

1 THE VALUE OF STRATEGIC SOURCING FOR PROCUREMENT PROFESSIONALS

2 UNDERSTANDING STRATEGIC SOURCING Maximizing value while minimizing cost is a business imperative across every discipline within organizations. Procurement management is an area of particular opportunity for cost control, as well as significant risk for overruns. As a procurement professional, you seek the tools to ensure your organization obtains the supplies and services it needs to operate efficiently, whether it s shipping and packaging materials, product for resale or a service contract for commercial equipment. DECISIONS DRIVEN BY FACT Strategic sourcing helps procurement professionals fulfill their dual roles of supply and cost management. Rather than taking a reactionary or fulfillment approach to procuring what a company needs, strategic sourcing takes a proactive, information-guided approach to procurement. STRATEGIC SOURCING IS THE DIFFERENCE BETWEEN: We need 100 widgets, now let s find the best price, versus Last year we needed 100 widgets in Q3. Here s what we spent on it. In Q1, let s negotiate the best price and ensure the same quality and value. Strategic sourcing achieves efficiencies by formalizing the way spend information is gathered, analyzed and factored into the procurement process. It is a continuous process that considers factors far beyond just cost of a product or service. Driven by experience, evidence and fact, strategic sourcing eliminates the potentially high cost of opinion- or emotion-based procurement decisions. This approach allows procurement professionals to consolidate purchasing power in order to secure the best value available in the marketplace.

3 CRITICAL ELEMENTS OF STRATEGIC SOURCING To effectively implement strategic sourcing in your organization, it s important to understand the critical elements that constitute a successful strategic sourcing plan. SPEND ANALYSIS In the initial data-gathering phase, an organization pulls together information on its past, current and anticipated needs; historical spend data; realized value and ROI of previous procurement activities. SUPPLIER QUALIFICATION This stage of the strategic sourcing process combines an assessment of the marketplace for the required product or service, and information gathering on possible suppliers or vendors. Once potential vendors/suppliers have been identified, it s time to assess their quality, service, reputation, capabilities and price. NEGOTIATION After receiving initial bids from qualified suppliers, negotiation begins with a conventional or online process that helps secure the optimal price. SUPPLIER PERFORMANCE MANAGEMENT Strategic sourcing formalizes the process of assessing vendor (or supplier) performance, and helps ensure they are consistently living up to their half of an agreement, including timelines and budgets. Strong management of suppliers incorporates a scoring process to measure specific performance areas such as product quality, delivery time, customer service and more. Additionally, periodic meetings with the suppliers help assess performance and develop improvement plans.

4 BENEFITS OF STRATEGIC SOURCING While strategic sourcing is widely practiced in larger organizations, fewer small and mid-size operators have discovered its value, or explored how to implement this strategy in their own organizations. Large operators are not the only ones who can stage and sustain a strategic sourcing initiative; smaller organizations stand to benefit as well. However, smaller organizations may face significant obstacles to successfully implement strategic sourcing programs, including: In-house expertise to accurately and efficiently analyze spend. A lack of resources to implement the process. Fewer long-standing supplier relationships. Less bargaining power to negotiate contracts. Fewer resources to manage contracts and suppliers. Less capital to invest in technology. Yet the benefits of strategic sourcing make it well worth it for smaller to mid-size operators to seek out ways to overcome these challenges. Strategic sourcing can help operations: Reduce or control procurement costs. Maximize the value of every dollar of spend. Streamline procurement operations. Build strong, trustworthy relationships with existing and new vendors. Retain, gain or regain a competitive advantage in their marketplace

5 THE ROLE OF E-SOURCING IN STRATEGIC SOURCING Strategic sourcing has been a recognized, effective strategy for decades and now technology is advancing it to the next level. E-sourcing is a suite of applications that automate the strategic sourcing process. It is a tool within the strategic sourcing process, but does not replace the process itself. Through e-sourcing, a single online portal allows users to streamline access to Requests For Proposal (RFPs), negotiate pricing using auctions, and process and store legal documents via a contract management module. The robust tool also enables users to create, sign and store contracts, measure supplier performance and survey stakeholders to ensure supplier performance is meeting their expectations. Benefits of e-sourcing include: A streamlined request for information/ proposal process. Reverse auctions that maximize supplier competition that leads to more competitive pricing. A single, easily accessible repository for all sourcing and contract information. E-sourcing further enhances the efficiency and value of strategic sourcing programs by automating business processes and creating standardized sourcing templates. An important element of e-sourcing is the ability to provide spend analytics that support and inform sourcing strategies. Contract and supplier management are integrated into the broader functionality of an e-sourcing program, delivering greater oversight and accountability. E-sourcing also assures a knowledge database of all initiatives is maintained.

6 HOW E-SOURCING WORKS Throughout the strategic sourcing process, e-sourcing tools optimize and speed operations. The spend analytics module allows users to understand where and with whom their money is being spent. In the supplier qualification phase, e-sourcing provides the rapidity and convenience of digital communication to obtain pricing quotes through RFPs, RFQs and RFIs. Price negotiation can occur via online auctions through a digital portal, where complete transparency and defined negotiation time frames help maximize supplier competition. As a contract management tool, e-sourcing facilitates authoring and redlining of contract documents, tracks and records negotiations and approvals, and helps monitor contract execution. It also fulfills the basic function of an electronic repository for all of an organization s vendor contracts. THE ROLE OF AUCTIONS IN STRATEGIC SOURCING As a negotiation tool used within the strategic sourcing process, the online auction constitutes the final price negotiation component. In a reverse auction, suppliers are invited to compete in real time online. The event provides complete transparency of pricing and product specification while maintaining supplier anonymity. This bidding atmosphere maximizes supplier competition and can yield organizations significant price savings over traditional price negotiation methods. WHY AND WHEN TO USE AUCTIONS By staging an auction, procurement professionals can gain speedier access to savings and achieve optimal competitive pricing by increasing competition between suppliers. Negotiation cycle times are reduced from many months to just a few weeks, so procurement professionals are able to obtain lower pricing faster, and thereby get the product they need at a competitive price in less time than through traditional price negotiation methods.

7 THE BENEFITS OF A STRATEGIC SOURCING PARTNER Although strategic sourcing can be a significant time-saving and cost-reduction tool, if an organization lacks in-house resources and expertise, strategic sourcing will be less effective. A proven method of expanding an organization s capacity beyond its in-house resources is working with a third party which can allow even the smallest operation to tap the benefits of strategic sourcing. Benefits of working with a third party for your strategic sourcing operations include: Having a dedicated partner allows in-house personnel to remain focused on other profitbuilding functions. Securing access to a depth of expertise the organization might not have in-house. Gaining access to specialized procurement software, including e-sourcing, which might be too costly for operators to purchase on their own. Extending the capabilities of an existing sourcing or procurement team. Creating the ability to complete more projects and source more items in budgeted time. Enhancing ROI of strategic sourcing programs. A strategic sourcing partner should function as an extension of an operation s in-house capabilities, enriching your expertise and enhancing the cost-effectiveness of your procurement program. It s critical to carefully evaluate potential strategic sourcing partners to ensure they have the industry expertise and vendor network that will help optimize your strategic sourcing program.

8 When evaluating a strategic sourcing provider for possible partnership, key elements to consider include: Experience How many years of experience does the company, and its sourcing professionals have in your industry? In the category where you require expertise? Are they certified sourcing professionals? Do they have a structured sourcing process that has proven successful? For example, their process should include market analysis, needs assessment and price negotiation. Do they expertly employ e-sourcing tools? Industry-leading software and web-based sourcing tools facilitate a faster sourcing cycle which leads to faster savings throughout the procurement process. What s more, being able to reap the benefits of this type of software tool without incurring the costs is one of the key selling propositions for outsourcing strategic sourcing. Is the sourcing provider able to leverage the volume of spend with similar companies to benefit the client company? Does the provider sustain an extensive supplier data base, giving you broader access to more vendors? A larger network of vendors means increased competition among them, and better access to the best possible pricing for client companies.

9 STRATEGIC SOURCING SUCCESS STORIES Topco Indirect has helped more than 70 companies achieve significant cost savings and streamline sourcing processes. On average, Topco Indirect saves its customers 12 percent across hundreds of indirect spend items and services more than $440 million since Topco helps customers realize significant savings through key tactics such as: EXAMPLE 1: Leveraging deep expertise With exceptional expertise in the area of floor care services, Topco Indirect is able to streamline sourcing processes, helping customers reduce a significant cost by up to 28% (see chart below). In addition, Topco has saved clients money even when they remain with their current service providers. Topco s extensive knowledge and experience in sourcing floor care gives clients access to a robust network of more than 45 floor care service providers, all of whom have been pre-qualified with due diligence, customer references and financial viability. Here is a sample of savings for four retailers that sourced floor care through Topco Indirect: Customer # of Locations Region Savings ($) Savings (%) Retailer Midwest $861K 28% Retailer Southwest $1.33M 18% Retailer Northeast $1.37M 19% Retailer South Central $628K 25% EXAMPLE 2: Consolidation of buying power By leveraging spend with multiple companies and combining purchases of front-end plastic bags for multiple clients, including 24 grocery, retail and wholesale companies, Topco Indirect was able to leverage $50 million in spending power in a two day bidding event. Companies combined their spend in a group award and individual lots, realizing an average savings of 7 percent.

10 EXAMPLE 3: Savings through aggregation Topco s equipment team aggregated the $4.2 million spending power of 15 companies to secure shopping cart bids from 11 suppliers through a reverse auction. Clients had the potential to save an average of 30 percent from both national and global suppliers, with several clients realizing double-digit savings by staying with their current suppliers. EXAMPLE 4: Savings through online reverse auction Topco sourced hinged container packaging for 21 customers, and achieved an average annualized savings of 12 percent by sourcing through an online reverse auction. Total volume was approximately 487,000 cases totaling $16.7 million. Each customer was using an average of four suppliers, with a total of 15 suppliers across the participating group. The auction allowed clients to reduce their supplier bases to about two per customer. One customer was able to reap annualized savings of 36 percent. STRATEGIC SOURCING RESOURCES To learn more about how strategic sourcing and working with a third party can benefit your operation, contact Anthony Hayes, Senior Sales Development Manager, Topco Indirect Spend, at ahayes@topco.com. If you need more information on e-sourcing, contact Chuck Wright, Director of Sourcing Services, Topco Indirect Spend, at cwright@topco.com.

CUTTING INDIRECT SPEND COSTS THE POWER OF THIRD-PARTY SOURCING

CUTTING INDIRECT SPEND COSTS THE POWER OF THIRD-PARTY SOURCING CUTTING INDIRECT SPEND COSTS THE POWER OF THIRD-PARTY SOURCING INTRODUCTION The business environment is ever-evolving, fluctuating moment to moment and year to year. The marketplace in which you deal today

More information

Success with Supply Chain Management: Gain Control and Reduce Costs by Eliminating Silo Buying. By Ken Lamb. Publication

Success with Supply Chain Management: Gain Control and Reduce Costs by Eliminating Silo Buying. By Ken Lamb. Publication : Gain Control and Reduce Costs by Eliminating Silo Buying By Ken Lamb Publication LOCATE SILO BUYING IN YOUR COMPANY Successful companies ask questions and examine each part of their operation to find

More information

Strategic Transportation Bidding With Sourcing Technology

Strategic Transportation Bidding With Sourcing Technology Strategic Transportation Bidding With Sourcing Technology Agenda Who we are The reality we live in How this reality is affecting your daily routine Transportation Spend Management Transportation Spend

More information

Why do you need enhanced Procurement Technology?

Why do you need enhanced Procurement Technology? www.pwc.com.tr Why do you need enhanced Procurement Technology? 3D Why do you need enhanced Procurement Technology? Procurement Technology provides the background functionality to support a company s entire

More information

Oracle Sourcing. Cut Costs with Online Collaboration and Negotiation

Oracle Sourcing. Cut Costs with Online Collaboration and Negotiation Oracle Sourcing Oracle Sourcing and Oracle Sourcing Optimization are the enterprise applications that improve the effectiveness and efficiency of strategic sourcing. They are key components of Oracle Advanced

More information

Point of View. Capability Optimization & Doing more with Sourcing and Procurement BPO : Strategic end to end Category Management.

Point of View. Capability Optimization & Doing more with Sourcing and Procurement BPO : Strategic end to end Category Management. Infosys BPO Point of View Capability Optimization & Doing more with Sourcing and Procurement BPO : Strategic end to end Category Sue Woodall End-to-End (E2E) Category is a continuum of identifying and

More information

WHITE PAPER PROCUREMENT TRANSFORMATION: 5 SOURCING EXCELLENCE INITIATIVES PROPELLED BY NEXT-GENERATION TECHNOLOGY

WHITE PAPER PROCUREMENT TRANSFORMATION: 5 SOURCING EXCELLENCE INITIATIVES PROPELLED BY NEXT-GENERATION TECHNOLOGY PROCUREMENT TRANSFORMATION: 5 SOURCING EXCELLENCE INITIATIVES PROPELLED BY NEXT-GENERATION : : 2 FOR MANY SUPPLY CHAIN-DRIVEN COMPANIES, PROCUREMENT TRANSFORMATION EFFORTS ARE EITHER ALREADY UNDERWAY OR

More information

SNAP! Procurement. Mohammed Zakarni Director Business Development

SNAP! Procurement. Mohammed Zakarni Director Business Development SNAP! Procurement Mohammed Zakarni Director Business Development What is SNAP! Procurement..? Faster, Easier Buying means Immediate Savings for Customers Shop and Approve From an App Tons of Suppliers

More information

Market Brief: Overcoming Internal Roadblocks to Sourcing Transformation

Market Brief: Overcoming Internal Roadblocks to Sourcing Transformation Market Brief: Overcoming Internal Roadblocks to Sourcing Transformation www.intesource.com Procurement teams today must focus on more than reducing costs they need to build supply networks that contribute

More information

Digitalizing Procurement for Midsize Companies: The First Step in Doing More with Less

Digitalizing Procurement for Midsize Companies: The First Step in Doing More with Less SAP Ariba Solutions SAP Ariba Snap Digitalizing Procurement for Midsize Companies: The First Step in Doing More with Less 1 / 11 Table of Contents 3 Quick Facts 4 Preconfigured with Spend Categories for

More information

Strategic Sourcing for the Oil & Gas Industry

Strategic Sourcing for the Oil & Gas Industry An Intensive 5 Day Training Course Strategic Sourcing for the Oil & Gas Industry Attaining Procurement Excellence 01-05 Dec 2018, Dubai 25-NOV-18 This course is Designed, Developed, and will be Delivered

More information

Strategic Sourcing for the Oil & Gas Industry

Strategic Sourcing for the Oil & Gas Industry An Intensive 5 Day Training Course Strategic Sourcing for the Oil & Gas Industry Attaining Procurement Excellence 09-13 Dec 2018, Dubai 08-12 Dec 2019, Dubai 25-JUL-18 This course is Designed, Developed,

More information

December 2012 Customer Satisfaction Survey Results 91% of survey respondents are satisfied

December 2012 Customer Satisfaction Survey Results 91% of survey respondents are satisfied To: The Boston University Community Date: January 16, 2013 From: Richard Stack, Director Sourcing & Procurement Subject: December 2012 Customer Satisfaction Survey Results We would like to thank everyone

More information

Contract Management March 2019

Contract Management March 2019 28 29 REVIEWING RFX BIDDING METHODS: WHICH ONES ARE RIGHT FOR YOU? Every day, companies use well-known, tried and true competitive bidding methods to choose their suppliers. Most common, of course, is

More information

Epic Integrated Consulting Services Seamless integration for system implementation, transition, optimization, legacy support and training

Epic Integrated Consulting Services Seamless integration for system implementation, transition, optimization, legacy support and training Epic Integrated Consulting Services Seamless integration for system implementation, transition, optimization, legacy support and training With nearly a third of all electronic health record (EHR) inpatient

More information

Strategic Sourcing: Conclusion

Strategic Sourcing: Conclusion Strategic Sourcing: Conclusion The Future Is Now Strategic sourcing is a new approach that promises to substantially improve an organization s competitiveness. Rather than adopting a singular, transaction-based

More information

Procurement Transformation on the Fast Track: Doing More with Less

Procurement Transformation on the Fast Track: Doing More with Less Procurement Transformation on the Fast Track: Doing More with Less February, 2010 ProcureAbility Presenters John Evans President and CEO ProcureAbility jevans@procureability.com 2 AN APPROACH UNHEARD OF

More information

The Future of Sourcing Begins Now

The Future of Sourcing Begins Now : The Future of Sourcing Begins Now Clay Calhoun ISG WHITE PAPER 2017 Information Services Group, Inc. All Rights Reserved INTRODUCTION Enterprises and public sector organizations have long depended on

More information

P U R C H A S I N G D E P A R T M E N T K R I S T E N J. S P I C O L A, CPPB A N N U A L R E P O R T P U R C H A S I N G A G E N T

P U R C H A S I N G D E P A R T M E N T K R I S T E N J. S P I C O L A, CPPB A N N U A L R E P O R T P U R C H A S I N G A G E N T P U R C H A S I N G D E P A R T M E N T A N N U A L R E P O R T K R I S T E N J. S P I C O L A, CPPB P U R C H A S I N G A G E N T The mission of the Purchasing Department of the Board of Water Works of

More information

Chapter 2. E-Marketplaces: Structures, Mechanisms, Economics, and Impacts

Chapter 2. E-Marketplaces: Structures, Mechanisms, Economics, and Impacts Chapter 2 E-Marketplaces: Structures, Mechanisms, Economics, and Impacts E-Marketplaces Markets (electronic or otherwise) have three main functions: 1. Matching buyers and sellers; 2. Facilitating the

More information

PUBLIC SECTOR. Maximize Your Budget with Comprehensive Procurement Solutions

PUBLIC SECTOR. Maximize Your Budget with Comprehensive Procurement Solutions PUBLIC SECTOR Maximize Your Budget with Comprehensive Procurement Solutions 2 HEALTHCARE PUBLIC SECTOR CHANGE is Inevitable. Playing such a major role in the lives of their constituents, public sector

More information

Revenew s Cost Recovery and Cost Containment services return dollars to your budgets. We recover over $100 million for our clients annually.

Revenew s Cost Recovery and Cost Containment services return dollars to your budgets. We recover over $100 million for our clients annually. Revenew s Cost Recovery and Cost Containment services return dollars to your budgets. We recover over $100 million for our clients annually. COST RECOVERY Contract Compliance Reviews Supplier Payment Reviews

More information

Centralizing Your Energy Supply Spend

Centralizing Your Energy Supply Spend HAPPY NEW YEAR! The entire team at Siemens Retail & Commercial Systems wishes you all the best for a prosperous 2016. If saving more money is on your list of resolutions, then contact us. We d love to

More information

WHITE PAPER. Emerging Trends to Manage your Indirect and Services Procurement Spend

WHITE PAPER. Emerging Trends to Manage your Indirect and Services Procurement Spend WHITE PAPER TM Emerging Trends to Manage your Indirect and Services Procurement Spend Leveraging Emerging Solutions and External Expertise to Deliver Value to Your Organization If you re reading this,

More information

University of Benghazi Faculty of Information Technology. E-Commerce and E-Marketing (IS475) Instructor: Nasser M. AMAITIK (MSc IBSE) Lecture 02

University of Benghazi Faculty of Information Technology. E-Commerce and E-Marketing (IS475) Instructor: Nasser M. AMAITIK (MSc IBSE) Lecture 02 University of Benghazi Faculty of Information Technology Instructor: Nasser M. AMAITIK (MSc IBSE) Fall 2011/2012 Lecture 02 E-Marketplaces: Structures and Mechanisms E-Marketplaces E-Marketplace: An online

More information

Bidding and Tendering. National Occupational Standards October 2018

Bidding and Tendering. National Occupational Standards October 2018 Bidding and Tendering National Occupational Standards October 2018 Unit 3 Cherry Hall Road North Kettering Business Park Kettering, NN14 1UE T: 01536 739 189 E: skills@instructus.org www.instructus-skills.org

More information

Choosing a TMS Plus Managed Services Provider. Making the Most of Your RFP

Choosing a TMS Plus Managed Services Provider. Making the Most of Your RFP Choosing a TMS Plus Managed Services Provider Making the Most of Your RFP IN BRIEF Implementing a transportation management system (TMS) and want to make sure you maximize the return on investment (ROI)?

More information

ESIS. ESIS Supply Chain Solutions That Work! ESIS. Supply Chain Solutions That Work

ESIS. ESIS Supply Chain Solutions That Work! ESIS. Supply Chain Solutions That Work ! What do 17,000 companies have in common? They use to automate their supply chain processes! Manufacturers have been using to increase their purchasing efficiency for over ten years. system, Harmony Order

More information

Streamline sourcing and procurement with a full source-to-settle solution

Streamline sourcing and procurement with a full source-to-settle solution Streamline sourcing and procurement with a full source-to-settle solution Contents The Solution What makes it different? Infrastructure Fully integrated Supply Management The ability to closely track supplies

More information

Law Firm Procurement Roundtable Executive Summary. hbrconsulting.com HBR Consulting LLC. All rights reserved.

Law Firm Procurement Roundtable Executive Summary. hbrconsulting.com HBR Consulting LLC. All rights reserved. Law Firm Procurement Roundtable Executive Summary To support law firms continued focus on business operations, leading firms are strategically investing in procurement The current market environment requires

More information

To 3PL or Not to 3PL:

To 3PL or Not to 3PL: To 3PL or Not to 3PL: An Overview of Third Party Logistics Outsourcing 866.672.2862 m33integrated.com 511 Rhett Street, Suite 3 Greenville, South Carolina 29601 Third party logistics (3PL) is the business

More information

Harnessing Technology to Create Greater Value from Strategic Sourcing

Harnessing Technology to Create Greater Value from Strategic Sourcing Harnessing Technology to Create Greater Value from Strategic Sourcing Creating Greater Value from Strategic Sourcing Strategic Sourcing continues to play a critical role in most organizations because it

More information

Configuring E-Procurement to Achieve Early Wins

Configuring E-Procurement to Achieve Early Wins Configuring E-Procurement to Achieve Early Wins The automation of business processes enables procurement departments to go beyond savings in creating business value for stakeholders. Failure to do so negatively

More information

Product Scorecard OMNITRACKER ITSM. February Improving and Accelerating Enterprise Software Evaluation and Selection

Product Scorecard OMNITRACKER ITSM. February Improving and Accelerating Enterprise Software Evaluation and Selection February 2018 Improving and Accelerating Enterprise Software Evaluation and Selection OMNITRACKER ITSM Product Scorecard 49 (9126) 25 979-0 https://www.omnitracker.com Dr.-Otto-Leich-Straße 3 Postfach,

More information

SPENDLINK White Paper

SPENDLINK White Paper SPENDLINK White Paper Driving Cash Flow and Bottom Line Results From Procurement Excellence September 2008 Steve Tucker Grant Oliver Hubwoo Spendlink TABLE OF CONTENTS 1. Introduction 3 1.1 Definition

More information

To Bid or Not To Bid

To Bid or Not To Bid To Bid or Not To Bid That Should NOT Be a QUESTION When soliciting bids for various purchases, including asphalt and road equipment, townships have a variety of tools at their fingertips. From requests

More information

ADR International ADR s Online Supply Chain Academy (OSCA) elearning Courses

ADR International ADR s Online Supply Chain Academy (OSCA) elearning Courses Learning ADR International ADR s Online Supply Chain Academy (OSCA) elearning Courses 2016 ADR International Contents About ADR s Online Supply Chain Academy (OSCA) 3 The Strategic Sourcing Process 4 ADR

More information

Strategic Sourcing Makes an Impact! David H. Vargas, Purchasing Manager Sikorsky Aircraft 203/ ;

Strategic Sourcing Makes an Impact! David H. Vargas, Purchasing Manager Sikorsky Aircraft 203/ ; Strategic Sourcing Makes an Impact! David H. Vargas, Purchasing Manager Sikorsky Aircraft 203/386-4984; dvargas@sikorsky.com Abstract. Learn how Sikorsky Aircraft, a world leader in the design and manufacture

More information

How to Overcome Internal Obstacles to Cost Reduction

How to Overcome Internal Obstacles to Cost Reduction How to Overcome Internal Obstacles to Cost Reduction Troy L. Coleman Director Ralph W. Owens Director How to Overcome Internal Obstacles to Cost Reduction? Who are Expense Reduction Analysts? Why focus

More information

HOW YOUR TO SELL SURPLUS. A Straightforward Seven-Step Guide from Liquidity Services

HOW YOUR TO SELL SURPLUS. A Straightforward Seven-Step Guide from Liquidity Services HOW TO SELL YOUR SURPLUS A Straightforward Seven-Step Guide from Liquidity Services On average, 20% of an organization s assets are surplus to its needs 1. In other words, a full one-fifth of your assets

More information

The Ultimate Guide to Choosing an ERP System

The Ultimate Guide to Choosing an ERP System The Ultimate Guide to Choosing an ERP System Balloon One are supply chain software specialists for e-commerce, manufacturing and distribution businesses www.balloonone.com -2- Contents Introduction 2 Step

More information

Gartner Decision Tools for Vendor Selection

Gartner Decision Tools for Vendor Selection Gartner Decision Tools for Vendor Selection Ralph Witcher These materials can be reproduced only with Gartner s written approval. Such approvals must be requested via e-mail quote.requests@gartner.com.

More information

SECURING VALUE FOR MONEY IN OUTSOURCED CONTRACTS How Local Authorities Can Deliver Their Cost Reduction Remit

SECURING VALUE FOR MONEY IN OUTSOURCED CONTRACTS How Local Authorities Can Deliver Their Cost Reduction Remit SECURING VALUE FOR MONEY IN OUTSOURCED CONTRACTS How Local Authorities Can Deliver Their Cost Reduction Remit Roger Warner, ISG ISG WHITE PAPER 2014 Information Services Group, Inc. All Rights Reserved

More information

2017 Oracle EBS Cloud Roadmap

2017 Oracle EBS Cloud Roadmap 2017 Oracle EBS Cloud Roadmap Velocity Technology Solutions This EBS Cloud Roadmap will: Suggest the right time to move EBS to the cloud Walk you through the steps and projected timeline. Provide reasons

More information

Sourcing and Contracts Insights from the SAP Ariba Benchmark Program

Sourcing and Contracts Insights from the SAP Ariba Benchmark Program Sourcing and Contracts Insights from the 2016-17 SAP Ariba Benchmark Program November 2017 Sourcing and Contracts Insights from the 2016-17 SAP Ariba Benchmark Program 2 /16 Background and Key Definitions

More information

Partner Up BUILD A MORE EFFECTIVE AND EFFICIENT MOBILITY PROGRAM WITH YOUR INTERNAL TEAMS AND EXTERNAL PARTNERS

Partner Up BUILD A MORE EFFECTIVE AND EFFICIENT MOBILITY PROGRAM WITH YOUR INTERNAL TEAMS AND EXTERNAL PARTNERS Partner Up BUILD A MORE EFFECTIVE AND EFFICIENT MOBILITY PROGRAM WITH YOUR INTERNAL TEAMS AND EXTERNAL PARTNERS In today's global marketplace, businesses face new challenges in getting employees where

More information

White paper. Portland. Do More With Bpo End-To-End Category Management Delivers Sustainable Value. Sue Woodall

White paper. Portland. Do More With Bpo End-To-End Category Management Delivers Sustainable Value. Sue Woodall White paper Do More With Bpo End-To-End Category Management Delivers Sustainable Value Sue Woodall Portland Capability optimisation means expanding spend under management and procurement capability to

More information

QUICK FACTS. Delivering a Managed Services Solution to Satisfy Exponential Business Growth TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES

QUICK FACTS. Delivering a Managed Services Solution to Satisfy Exponential Business Growth TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES [ Financial Services, Application Management Outsourcing ] TEKSYSTEMS GLOBAL SERVICES CUSTOMER SUCCESS STORIES Client Profile Industry: Financial Services Revenue: Approximately $30 billion annually (parent

More information

Outsourcing Procurement Services Deliver Higher Performance at a Lower Cost

Outsourcing Procurement Services Deliver Higher Performance at a Lower Cost Outsourcing Procurement Services Deliver Higher Performance at a Lower Cost As the hospitality industry looks to generate more operational efficiencies while maintaining brand diversity, a paradigm shift

More information

Law Firm Procurement Roundtable Executive Summary. hbrconsulting.com HBR Consulting LLC. All rights reserved.

Law Firm Procurement Roundtable Executive Summary. hbrconsulting.com HBR Consulting LLC. All rights reserved. Law Firm Procurement Roundtable Executive Summary To support law firms continued focus on business operations, leading firms are strategically investing in procurement The current market environment requires

More information

Outsource or in-house? The evolving role of analytical services in pharmaceutical manufacturing

Outsource or in-house? The evolving role of analytical services in pharmaceutical manufacturing Outsource or in-house? The evolving role of analytical services in pharmaceutical manufacturing By Impact Analytical Introduction About Impact Analytical Impact Analytical is a contract analytical testing

More information

Bank It: Optimizing the Source to Contract Process to Maximize and Lock in Savings. Cardinal Health Patrick Eckhert Head of Indirect Procurement

Bank It: Optimizing the Source to Contract Process to Maximize and Lock in Savings. Cardinal Health Patrick Eckhert Head of Indirect Procurement Bank It: Optimizing the Source to Contract Process to Maximize and Lock in Savings Cardinal Health Patrick Eckhert Head of Indirect Procurement www.sig.org/eval Bank It: Optimizing the Source to Contract

More information

WHITE PAPER. REVENUE OPPORTUNITIES CREATED BY OPEN APIs. Venkataraman Durghados IBS Open APIs Solution Architect

WHITE PAPER. REVENUE OPPORTUNITIES CREATED BY OPEN APIs. Venkataraman Durghados IBS Open APIs Solution Architect REVENUE OPPORTUNITIES CREATED BY OPEN APIs Venkataraman Durghados IBS Open APIs Solution Architect Financial service providers must embrace new technologies and leverage data held in their systems to secure

More information

Infosys, Sourcing & Procurement BPO Procurement outsourcing

Infosys, Sourcing & Procurement BPO Procurement outsourcing Agenda Introduction Infosys, Sourcing & Procurement BPO Procurement outsourcing The Caterpillar experience About Caterpillar Caterpillar s Purchasing organization Outsourcing journey Benefits, Challenges

More information

A Holistic Approach to Source-to-Pay

A Holistic Approach to Source-to-Pay A Holistic Approach to Source-to-Pay Featuring insights on... Pains of Segmented Source-to-Pay Streamlining the Supply Chain Case Study: Outerwear Company Contents Introduction 3 Unifying Segmented Source-to-Pay

More information

Transform Procurement with Integrated Processes

Transform Procurement with Integrated Processes Transform Procurement with Integrated Processes Dr. Marcell Vollmer, CPO, SAP SE #SAPPHIRENOW Public Agenda 1 2 3 SAP at a Glance Future Trends and Innovations in Procurement SAP s Evolution of Procurement

More information

Market Disruptive Solutions:

Market Disruptive Solutions: Market Disruptive Solutions: Rethinking how Supply Chain Management Creates Value JLL Denver Clark Chief Procurement Officer Americas Jonathan Tucker Sr. Manager, Strategic Sourcing Yardi Mike Rooney Industry

More information

Supply Management. Where We Are Now CHAPTER TEN. Measurement. Organizational. Sustainability. Management. Globalization.

Supply Management. Where We Are Now CHAPTER TEN. Measurement. Organizational. Sustainability. Management. Globalization. CHAPTER TEN Supply Management McGraw-Hill/Irwin Copyright 2011 by the McGraw-Hill Companies, Inc. All rights reserved. Where We Are Now Relationships Sustainability Globalization Organizational Culture/Ethics

More information

MICROSOFT DYNAMICS NAV FOR INTERNATIONAL

MICROSOFT DYNAMICS NAV FOR INTERNATIONAL WHITEPAPER MICROSOFT DYNAMICS NAV FOR INTERNATIONAL IMPLEMENTATIONS MICROSOFT DYNAMICS NAV AND INTERNATIONAL ERP IMPLEMENTATION This whitepaper explains why Microsoft Dynamics NAV is particularly well-suited

More information

ERP IS NOT ENOUGH FOR EPROCUREMENT. You need a dedicated solution. Here s Why

ERP IS NOT ENOUGH FOR EPROCUREMENT. You need a dedicated solution. Here s Why ERP IS NOT ENOUGH FOR EPROCUREMENT You need a dedicated solution Here s Why In the next four chapters, we will quickly examine: 1. Differences between a bolt-on ERP module and a dedicated eprocurement

More information

Perspectives on Strategy

Perspectives on Strategy Perspectives on Strategy November 2008 135 cost savings ideas from CRE portfolio and organizational strategies to processes and tactics In 2001, Jones Lang LaSalle introduced the Financial Performance

More information

PD Re-engineering Program Charter

PD Re-engineering Program Charter PD Re-engineering Program Charter Version:.0 Date: May 0, 0 Page Table of Contents INTRODUCTION... PROGRAM PURPOSE... PROGRAM OBJECTIVES... PROGRAM SCOPE DEFINITIONS... PD Re-engineering Program Scope

More information

The Role of the VMO in Regulatory Compliance Planning, Due Diligence and Contract Negotiation

The Role of the VMO in Regulatory Compliance Planning, Due Diligence and Contract Negotiation : The Role of the VMO in Regulatory Compliance Planning, Due Diligence and Contract Negotiation David England, Director, ISG ISG WHITE PAPER 2017 Information Services Group, Inc. All Rights Reserved EXECUTIVE

More information

Transforming Meetings and Events

Transforming Meetings and Events A Complete, Integrated Platform for the Entire Event Lifecycle Transforming Meetings and Events Meetings and events drive business, and Cvent drives your meetings and events. Our Event Management Platform

More information

COOPERATIVE PURCHASING

COOPERATIVE PURCHASING LEVERAGE COOPERATIVE PURCHASING TO GROW YOUR GOVERNMENT SALES TABLE OF CONTENTS Part 1. Market overview Part 2. Understand top buyers/users Part 3. Determine top purchase categories Part 4. Examine the

More information

Hunting & Farming Suppliers

Hunting & Farming Suppliers Hunting & Farming Suppliers Aligning Your Organization s Structure and Talent to Drive Value in Supplier Lifecycle Introduction Those of you who have dealt with sales organizations will recognize that

More information

Calypso Capabilities

Calypso Capabilities Calypso Capabilities 1 / Calypso Capabilities Calypso Capabilities / 2 SUMMARY The Synechron Solution Synechron s Calypso solutions include: Pre-study & Advisory: Developing a complete Calypso strategy

More information

Five Tips to Achieve a Lean Manufacturing Business

Five Tips to Achieve a Lean Manufacturing Business Five Tips to Achieve a Lean Manufacturing Business Executive Overview Introduction The more successful manufacturers today are those with the ability to meet customer delivery schedules while maintaining

More information

Epicor for Distribution

Epicor for Distribution Epicor for Distribution As a distributor, you know that employing a powerful technology strategy is a key to success and to staying ahead of the competition, which seems to get more sophisticated every

More information

DXC Eclipse White Paper. How to mitigate the risks and leverage the power of the cloud

DXC Eclipse White Paper. How to mitigate the risks and leverage the power of the cloud How to mitigate the risks and leverage the power of the cloud Table of contents The time to move to the cloud is now 2 Cost benefits of a cloud-based approach 2 Beware of the race to services 3 How to

More information

Internal Audit. Audit of Procurement and Contracting

Internal Audit. Audit of Procurement and Contracting Internal Audit Audit of Procurement and Contracting June 2011 Table of Contents EXECUTIVE SUMMARY...5 1. INTRODUCTION...8 1.1 BACKGROUND...8 1.2 OBJECTIVES...9 1.3 SCOPE...9 1.4 METHODOLOGY AND APPROACH...9

More information

REASONS BUSINESS-TO-BUSINESS COMPANIES OUTSOURCE THEIR MARKETING

REASONS BUSINESS-TO-BUSINESS COMPANIES OUTSOURCE THEIR MARKETING TOP10 REASONS BUSINESS-TO-BUSINESS COMPANIES OUTSOURCE THEIR MARKETING Outsourcing is one way B2B companies can get the marketing performance they need at a cost that is appropriate. While every company

More information

MSP Purpose, Value & ROI

MSP Purpose, Value & ROI PERSPECTIVE ARTICLE MSP Purpose, Value & ROI A Comprehensive Look at Today s Global Managed Service Provider Programs In this perspective article, Bartech an industry professional services firm delivering

More information

E-Business Advanced Procurement Update and Roadmap. David Hope-Ross, Senior Director Procurement & SCM

E-Business Advanced Procurement Update and Roadmap. David Hope-Ross, Senior Director Procurement & SCM E-Business Advanced Procurement Update and Roadmap David Hope-Ross, Senior Director Procurement & SCM Safe Harbor Statement The following is intended to outline our general product direction. It is intended

More information

Procurement Performance Review

Procurement Performance Review Office of the BC Ferries Commissioner Procurement Performance Review Final Report Table of contents Table of contents... 2 1. Executive Summary... 3 2. List of Acronyms Used... 6 3. Background... 7 3.1.

More information

The Ultimate Guide to Supplier Onboarding Success

The Ultimate Guide to Supplier Onboarding Success The Ultimate Guide to Supplier Onboarding Success The Ultimate Guide to Supplier Onboarding Success Many companies have hundreds or thousands of trading partners across their organization, and a great

More information

SMB s using BI to gain a competitive

SMB s using BI to gain a competitive SMB s using BI to gain a competitive edge Eight advantages that BI brings to your business sales and marketing efforts The business value that business intelligence (BI) provides is the enhanced capability

More information

RESEARCH NOTE NETSUITE S IMPACT ON WHOLESALE AND DISTRIBUTION COMPANIES

RESEARCH NOTE NETSUITE S IMPACT ON WHOLESALE AND DISTRIBUTION COMPANIES Document L11 RESEARCH NOTE NETSUITE S IMPACT ON WHOLESALE AND DISTRIBUTION COMPANIES THE BOTTOM LINE When Nucleus examined wholesale and distribution customers using NetSuite, analysts found it enabled

More information

Achieving Best-in-Class Financial Management

Achieving Best-in-Class Financial Management Best Practices for Choosing the Right Accounting Software: Achieving Best-in-Class Financial Management Get Started It starts innocently enough. You need a report your current accounting system can t deliver,

More information

HR Outsourcing Making the Decision and Making it Work

HR Outsourcing Making the Decision and Making it Work HR Outsourcing Making the Decision and Making it Work Thought Leadership Council for Better Practices 1 HR Outsourcing I. Making the Decision Evaluating HR outsourcing II. Making the Selection Request

More information

Six ways we can help

Six ways we can help Marketing Proposal Big Enough to Serve Your Business, Small Enough to Know Your Business. 10 209 25 85 10 14 70 5 years in business full time employees leadership staff customer service staff design service

More information

WHITE PAPER DIRECT MATERIALS AND COMMODITY SOURCING STRATEGIES: IMPROVING RESULTS WITH ADVANCED SOURCING

WHITE PAPER DIRECT MATERIALS AND COMMODITY SOURCING STRATEGIES: IMPROVING RESULTS WITH ADVANCED SOURCING DIRECT MATERIALS AND COMMODITY IMPROVING RESULTS WITH ADVANCED : : 2 ABSTRACT FOR MANUFACTURERS IN EVERY INDUSTRY, THE COST OF DIRECT MATERIALS IS A CONSTANT CHALLENGE TO BOTTOM-LINE RESULTS. ACCOUNTING

More information

BUYING ALLIANCE (SMART PROCUREMENT PROCESS)

BUYING ALLIANCE (SMART PROCUREMENT PROCESS) @ BUYING ALLIANCE (SMART PROCUREMENT PROCESS) 1 DEFINITION AND BENEFITS OF A PROCUREMENT ALLIANCE Closest definition Type of procurement alliances Cross X Staff Two or more organizations, or groups within

More information

AVAIL BENEFITS OF COLLECTIVE SCALE without compromising ownership and control

AVAIL BENEFITS OF COLLECTIVE SCALE without compromising ownership and control NATIONWIDE HEALTH ALLIANCE FOR PROFITS, PROGRESS AND PRODUCTIVITY AVAIL BENEFITS OF COLLECTIVE SCALE without compromising ownership and control Welue 2011 Welue Strategic Alliances Pvt Ltd Phone: +91.124.437.1000

More information

At the Heart of Connected Manufacturing

At the Heart of Connected Manufacturing www.niit-tech.com At the Heart of Connected Manufacturing Transforming Manufacturing Operations to Drive Agility and Profitability The success of the new manufacturing network hinges on the agility of

More information

SUCCESS PROFILE TELSTRA BAND 2 INDIVIDUAL CONTRIBUTOR

SUCCESS PROFILE TELSTRA BAND 2 INDIVIDUAL CONTRIBUTOR Business Unit Finance & Strategy Band 2 Work Code PRSVNMSP People Mgr/Ind Contrib IC Direct Expense n/a Generic Role Title Senior Procurement Specialist CAPEX n/a Market Role Title Senior Procurement Specialist

More information

How well does your procurement measure up?

How well does your procurement measure up? How well does your procurement measure up? Find out how KPMG and Coupa can help you achieve smarter spend management. May 2017 kpmg.com/us/coupa How well does your procurement measure up? 1 Optimizing

More information

Fixed Scope Offering for Oracle Fusion Procurement. Slide 1

Fixed Scope Offering for Oracle Fusion Procurement. Slide 1 Fixed Scope Offering for Oracle Fusion Procurement Slide 1 Today s Business Challenges Adopt leading Global SCM practices & strategies across the entire enterprise value chain to move into the future.

More information

Are you in need of a tool to help you do SO MUCH MORE with the TIME, STAFF and BUDGET you have?

Are you in need of a tool to help you do SO MUCH MORE with the TIME, STAFF and BUDGET you have? Are you in need of a tool to help you do SO MUCH MORE with the TIME, STAFF and BUDGET you have? Afaxys is a GPO an established and proven business model Afaxys is UNIQUE because it s dedicated to the public

More information

ENHANCING CLINICAL DATA QUALITY WITH SPECIALIZED FUNCTIONAL SERVICE PROVIDER MODEL

ENHANCING CLINICAL DATA QUALITY WITH SPECIALIZED FUNCTIONAL SERVICE PROVIDER MODEL Shaping the Future of Drug Development ENHANCING CLINICAL DATA QUALITY WITH SPECIALIZED FUNCTIONAL SERVICE PROVIDER MODEL Jim Baker Senior Vice President Clinical Research Services Cytel JIM BAKER Senior

More information

Best Practices to Prevent Supply Chain Quality Issues

Best Practices to Prevent Supply Chain Quality Issues W H I T E P A P E R Best Practices to Prevent Supply Chain Quality Issues INTRODUCTION A high-quality, vetted supply chain affects the efficiency and sustainability of health services at all levels, be

More information

6 Steps To Stakeholder Advocates

6 Steps To Stakeholder Advocates 6 Steps To Stakeholder Advocates 1 White Paper From Adversaries, To Advocates 1. Frame The Opportunity 2. Come Bearing Gifts As more companies see how bottom line savings can support their top line profits,

More information

Achieving Service Agility with a Service Innovation Framework

Achieving Service Agility with a Service Innovation Framework By Laurie Spiegel, 13 February, 2014. Achieving Service Agility with a Service Innovation Framework Any new product development environment should allow service providers to quickly create, launch, deliver

More information

WHITE PAPER. Revenue Opportunities Created by Open APIs

WHITE PAPER. Revenue Opportunities Created by Open APIs Revenue Opportunities Created by Open APIs Financial service providers must embrace modern technologies and leverage data held in their systems to secure their long-term futures. Open Banking initiatives,

More information

Copyright 2013 Pearson Education, Inc. Publishing as Prentice Hall 5-1

Copyright 2013 Pearson Education, Inc. Publishing as Prentice Hall 5-1 Copyright 2013 Pearson Education, Inc. Publishing as Prentice Hall -1 Learning objectives Manage the planning process of a project Understand the work breakdown structure of a project Understand different

More information

6 Steps to Effective Supplier Quality Audits. A Guide For Medical Device Companies

6 Steps to Effective Supplier Quality Audits. A Guide For Medical Device Companies 6 Steps to Effective Supplier Quality Audits A Guide For Medical Device Companies 1 Table of Contents 3 Why Supplier Quality Audits Matter 4 Manual vs. Automated Supplier Audits 5 Six Steps to Effective

More information

Shared Services & Cost Saving Collaboration Deserve Respect

Shared Services & Cost Saving Collaboration Deserve Respect Page 1 of 7 ICMA Press / PM Magazine / Current Issue MAY 2011 VOLUME 93 NUMBER 4 COVER STORY Shared Services & Cost Saving Collaboration Deserve Respect by Monte Mercer Shared services, many of which are

More information

ELECTRONIC PROCUREMENT What does it buy you?

ELECTRONIC PROCUREMENT What does it buy you? ELECTRONIC PROCUREMENT What does it buy you? Example: Rocky Flats Environmental Technology Site NWCCC June 27th 2001 Jeff Haight Group CH2M HILL/ Seattle (425) 453-5000 jhaight@ch2m.com This material was

More information

FUELING EFFECTIVE COLLABORATION: HOW STRATEGIC SOURCING DELIVERS RESULTS FOR MARKETING GROUPS

FUELING EFFECTIVE COLLABORATION: HOW STRATEGIC SOURCING DELIVERS RESULTS FOR MARKETING GROUPS FUELING EFFECTIVE COLLABORATION: HOW STRATEGIC SOURCING DELIVERS RESULTS FOR MARKETING GROUPS Fueling Effective Collaboration What Strategic Sourcing Brings Building A Relationship Strategic Sourcing Process

More information

Long tail, big savings: Digital unlocks hidden value in procurement

Long tail, big savings: Digital unlocks hidden value in procurement Long tail, big savings: Digital unlocks hidden value in procurement Until recently, many companies thought it was futile to try to extract savings from the lowvolume purchases in tail spend. New technologies

More information