10 e-Sourcing Tips Every Procurement Pro Should Know
10 e-Sourcing Tips
Every Procurement Pro
We recently asked our community of [customers],
“What’s the most important thing a procurement
professional should know?”
Here's what they had to say…
[procurement professionals from some of the nation’s most respected retail organizations]
“Quantify spend under management”
You can't save where you
don't have visibility.
Identify all spend, and
possible, to really make
Education is key here.
Arming buyers with a
process that's simple to
follow, and ultimately
makes their lives easier,
will ensure you get
everyone on board.
“Get all departments engaged in the process”
“All stakeholders are not all alike”
Adjust your approach for each buyer. Meet one-on-one
to address potential concerns or misconceptions.
Provide resources (sample events, training guides, etc.)
that speak to each individual's specific need.
“All cost savings are important”
Those big dollar spends are easy targets, but don't
neglect the smaller ticket items. Making an effort to get
the best value in every category will have a big impact.
“Engage business partners properly”
Your e-sourcing provider should work in conjunction with
the buyer to ensure vendors are comfortable with
1) the technology,
2) the specifications and
3) the expectations of the buying organization.
This promotes the highest level of compliance.
“Executive sponsorship is key”
A new way of doing things can
be intimidating. When the
executive team acknowledges
this and celebrates savings -
program buy-in (and results)
Keeping an open mind and
using e-sourcing tools in new,
creative ways will ensure your
program maintains momentum
and continues to pay dividends.
“Vendor selection should not
be based on just low price”
Don't be lured in by the
syndrome. Identifying a
great price is just one
step of the process.
“Follow up on quality control”
As with any sourcing project, continuous quality control
is key to ensure you're getting what you pay for.
“Centralize event management”
Providing not only templates, but the support
of a knowledgeable program manager and
dedicated resource from your e-sourcing
provider makes those who only run a handful of
events much more likely to embrace the process.
e-Sourcing isn’t just about technology.
Implementing an e-sourcing initiative? Or Looking to
revitalize your existing sourcing program?