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Straregic Sourcing And E Procurement Are Major New Areas Of Potential Performance Improvement. How Have They Added Value ?

1116 words - 5 pages

Technology solutions are revolutionizing the way companies are interacting with their suppliers, allowing organization to realize important saving from demand and use of more efficient procurement processes. And as B2B drives the marketplace, E-procurement solutions are increasing. This increased focus on E-procurement solutions and capabilities has changed the traditional purchasing function. E-Sourcing opportunities provide competitive advantage by significantly influencing the price and quality of purchased materials and services, as well as improving supply chain responsiveness. And ultimately, as technology continues to enable increased collaborative activities among trading partners, ...view middle of the document...

Then, the company can quickly weight the effects of change on any elements of its total cost and transit time to optimize global sourcing and deliver immediate, positive, bottom-line results for the company.In order to create value, the implementation of strategic sourcing process "relies on the ability to undertake fact-based negotiations". This method is based on a win-win approach rather than a traditional supplier-buyer relationships (based on win-lose approach). Suppliers analysis provide strong knowledge about cost drivers and the capability of each potential supplier, then fact-based negotiations help to provide information concerning the suppliers alignment in order to compare it to the company's sourcing requirements. Such a selection also deals with specific issues such as data on item purchases volumes, inventory levels, cost history / delivery and services requirements which will help to define the categories within the TCO model. Then, the company have to define supplier selection criteria based on pricing, delivery service, value-added service and overall supplier capabilities.Another challenge today is achieving maximum benefits from supplier relationships on a global scale. The traditional focus on reduction of purchase price is becoming less effective in creating optimum outcomes, because it ignores the substantial reductions in operating costs that can be achieved by taking a "more holistic approach". Total cost of ownership takes into account all costs incurred in the use of an item. It allows for the selection of central or regional sourcing, depending on cost factors for specific commodity groups. Supplier relationship management (SRM) can also performed actions such as improving overall performance and reducing total costs in the supply chain. SRM can also be significant drivers of innovation and permit to improve the customer satisfaction by understanding the buyer and supplier side by laying out the cost savings and improvements.Finally, strategic sourcing can achieve 10-15% in benefits by engaging such key activities as the following:Total Cost of OwnershipContract ManagementDemand managementCorporate wide PurchasingSupply Base RationalizationE-procurement"Electronic Procurement is defined as the act of placing an order over the Web. The source of the supply or good can be direct from a manufacturer through a trading network or through a Web-enabled distributor. The transaction must occur over the Web". (Source : IDC 1999)E-Procurement...

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