Effective supplier management is the cornerstone of a successful and efficient supply chain, impacting an organization's performance, cost-effectiveness, and overall competitiveness. Our PowerPoint presentation, "Mastering Supplier Management," provides a comprehensive guide to optimizing your supplier relationships and processes for maximum business benefit.
This presentation is tailored for supply chain professionals, procurement teams, and business leaders looking to unlock the potential of supplier management. It delves into key aspects such as supplier selection, performance measurement, risk mitigation, and collaboration strategies.
Oracle Cloud Sourcing gives you the tools to manage the entire Sourcing business process across key stakeholders, category managers and suppliers. Here we see an entire Sourcing lifecycle which includes:
Identifying key sourcing opportunities
Collaborating with key stakeholders to create negotiations
Approving the negotiation according to an organization’s business rules
Conducting and monitoring the negotiation in real time
Analyzing supplier responses to determine the best award
Approving the award to ensure company compliance
Creating and implementing the purchasing documents to complete the process
Oracle Cloud Sourcing offers comprehensive functionality with an intuitive user interface to manage and execute the entire Sourcing process to achieve the best results possible.
Some highlights of Sourcing Cloud include being able to easily create negotiations based of templates and styles. We have great collaboration tools such as Oracle Social Network that you can use to . Sourcing Cloud is integrated with Project Management so for complex events you can manage them in a project plan which will automatically update based on key Sourcing activities. It’s also well integrated with the Procurement suite including a shared question library with SQM and bringing in terms/conditions from Contracts onto the negotiation. Finally, there are many ways to analyze the data to determine best award. Including looking across negotiations to determine how well you are tracking to your goals.
Procurement organizations are challenged to provide tangible results based on internal goals to help measure sourcing performance. Currently, there is limited visibility into the overall value delivered by multiple sourcing initiatives and a lack of insight into results. With sourcing programs, organizations have a way to set measurable goals across sourcing initiatives and proactively determine whether those goals are being met. You can define goals with tangible objectives that are tied to negotiations and enter other data that contributes to the objective. Teams can participate in the program and collaborate with internal stakeholders using Oracle Social Network. You can proactively measure and monitor program progress and results with embedded analytics for key metrics. Being able to track and manage sourcing programs yields visibility into how the sourcing organization is performing, improves buyer productivity, and helps identify cost-savings opportunities.
Suppliers and Category Managers must efficiently manage a large number of documents during the negotiation process. Use the Negotiation attachments and Response attachments pages to select attachments to download. You can also download all attachments shown on a page with one action.
You can search for an attachment by name, and refine searches using filters. To help manage large numbers of attachments, you can export a list of all attachments to a spreadsheet. Attachments are downloaded into a zip file and organized into a directory structure to facilitate drill down to a specific attachment by supplier, response, or level.
CONFIGURE NEGOTIATION INVITATION EMAIL WITH BUSINESS INTELLIGENCE PUBLISHER
The ability to tailor supplier notifications as per business needs is essential for effective communication with suppliers and a successful negotiation process. This feature provides the capability to configure negotiation invitation emails based on a Business Intelligence Publisher template. The template makes it easy to modify the layout and content as required.
Audit trails can play an important part in an organization’s overall risk management strategy, demonstrating to customers, business partners and regulators that an organization has made a thorough effort to protect against and prevent potential problems. For a Sourcing business process, tracking supplier activities provides a historical account of their actions for audit purposes and also provides details that can assist during a negotiation. A Category Manager can now go to a single place to track activities by supplier and take necessary actions. Providing a detailed and user friendly way to track supplier activities will provide Category Managers insight into supplier progress and audit trails of supplier actions for compliance purposes.
In this release the Monitor Supplier Activities feature is enhanced to capture an activity log. It is a historical account of suppliers’ activities during a negotiation cycle. When supplier takes various actions, such as accept or decline a negotiation invitation, accept terms and conditions or create a response, the log shows what action was taken by the contact, and when. Category Managers can export the activity log into an excel report.
Seller auctions provide revenue generating opportunities for operations. Many companies measure this in terms of procurement savings as it lowers the total asset cost and controls overhead related to excess stock or stale assets.
You can now create a seller auction to sell off your excess inventory or retired assets. You can add multiple line items. You have the option to set a start price for each line, below which the bids are not allowed. You can also set a reserve price - the minimum price at which you are planning to sell the item. Reserve price is not visible to the bidders, but they will know if the reserve price is met or not met during competitive bidding. This will encourage competition. You can also set a price increment for each line which is the minimum increase in bid price the bidder must meet when revising their bid. You can invite multiple bidders to participate in the seller auction. Invited bidders receive an invitation notification to participate in the bidding process with the auction details.
The Procurement department is often responsible for liquidating excess inventory or selling retired assets. This requires the ability to conduct a competitive auction to sell these items efficiently to qualifying bidders. Unlike a reverse auction used for procuring items at a lower price, in this forward (or seller) auction, the seller awards to the highest bidder. Potential buyers compete by increasing their bids over time before the auction closes. The seller monitors the competitive auction in real time and resourcefully determines the best award.
With this feature, category managers have the ability to conduct seller auctions in Sourcing Cloud.
This feature provides the following capabilities:
Create and publish seller auctions
Invite companies to bid
Submit and manage bids through Supplier Portal
Monitor the auction
Manage the auction schedule
Award the auction and finally
Export award information in a spreadsheet
Practice smart sourcing, broaden the end user experience, and protect business interests by taking advantage of next generation Oracle Cloud Procurement applications with Oracle Sourcing Cloud, Oracle Cloud Procurement Contracts and/or Oracle Cloud Supplier Qualification Management. These applications can operate as stand-alone solutions and provide value to you out of the box, even before you consider how they might best fit into the rest of your application environment. In some cases, a stand-alone deployment might be the best approach, in others, some reference data and transactional integration with Purchasing and other execution systems might make sense. With the right integration strategy, you can successfully deploy Oracle Sourcing Cloud, Oracle Cloud Procurement Contracts and/or Oracle Cloud Supplier Qualification Management to complement your existing solutions while gaining the benefits of Cloud technology with minimal investment and reduced risk.
As part of your of Oracle Sourcing Cloud, Oracle Cloud Procurement Contracts and/or Oracle Cloud Supplier Qualification Management implementation, you should evaluate how these solutions will work with your existing systems and the different integration options available to you. The approach you take will depend on your business needs and processes as well as your existing systems and configurations. Oracle Cloud provides flexible options for inbound and outbound integration that you can leverage during your implementation.
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