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   Strategic Sourcing

Read our "Procurement Intelligence" white paper

Learn how PurchaseSmart can be your end-to-end solution.  

What is strategic sourcing?
Strategic sourcing is a complete, systematic approach to analyzing and managing your entire purchasing process, including what goods you purchase and how, when and where you purchase them.

By consistently monitoring sourcing- and supplier-management performance, strategic sourcing strengthens buyer-supplier relationships and greatly reduces supply-chain-sourcing costs.
A strong focus on strategic sourcing will deliver immediate, measurable benefits for your company, including:

  • Reduced sourcing process expenses
  • Reduced inventory expenses
  • Reduced cycle times
  • Improved delivery time
  • Reduced expenses and administrative overhead
  • More effective and efficient interaction with suppliers

The benefits to your company extend well beyond
process improvements, empowering your employees
to buy more strategically and delivering both an
immediate and ongoing return on your investment.

How does PurchaseSoft support strategic sourcing?
According to Cap Gemini Ernst & Young, effective strategic sourcing is driven by performance in five critical areas:

  • Sourcing and Contract Management (supplier selection, commodity sourcing and contract negotiation)
  • Supplier Management (supplier development, supplier relationship management and supplier performance management)
  • Specification Management (design management, cost management, component and product standardization and supplier performance evaluation)
  • Transaction Management (requisitioning, creating purchase orders, order tracking and receiving)
  • Organization (organization design, performance planning, performance metrics and cost measurement)

Our procurement software-PurchaseSmart™-supports all five of these critical areas with an extensive set of real-time analytical tools and reporting capabilities. PurchaseSmart gives you a window into your entire purchasing process including requisitioning, ordering, negotiation, order tracking and receiving. You can also monitor buyer and supplier performance anytime, in real time.

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