Sourcing: effectively defining the buying need and selecting the right supplier is critical for an organisation that wants to reduce both cost and risk. But whether it's for a one-time capital equipment purchase or service contract, or for ongoing supply of frequently used goods or services, the process can be complex and time consuming.

In this webinar, we reveal why tackling sourcing is a ‘no-brainer’ and how procurement capacity can be increased by standardising processes and documents and leveraging electronic sourcing methods. Using these tools, sourcing events can be performed in a fast, consistent, successful manner by either functional departments or Procurement in a fraction of the time. And in some categories, the ability to perform frequent, effective eAuctions can drive even greater savings.        

• Categorise and prioritise sourcing event types
• Establish your standardised approach
• Educate stakeholders on new Sourcing procedures
• Perform initial sourcing events

The benefits of a comprehensive sourcing capability built on standardised sourcing event processes, electronic document templates, collaborative requirements development and auto-assisted response scoring are significant:

• Increased savings
• Reduced supplier risk
• Improved supplier relations and performance
• Compliance with regulatory requirements
• Reduced administrative costs

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