My Turn: Being Selective About Your E-Sourcing

Overview: Strategic sourcing is at the top of corporate agendas. Therefore, in order for the corporation to remain competitive, the concern is not whether or not one should strategically source, but how. Fortunately, technology known as “strategic e-sourcing” has recently emerged, and it has the capacity to automate enterprise-class sourcing processes. By arming users with an end-to-end platform stocked with the necessary tools to strategically source online, this software enables companies to conduct sourcing efforts in a highly automated and comprehensive way. At its core, e-sourcing software leverages the Internet for better collaboration, communication, information sharing, and automation, allowing for the realization of multiple benefits. e-Sourcing enables companies to understand where they are spending inefficiently so they can make more informed, automated decisions. With e-sourcing, greater visibility can be gained into the budget process and a target for cash savings can be provided. Ultimately, the spend under management increases, which allows more money to be brought back to the CFO. Finally, new process efficiencies allow companies to simply do more and better sourcing per year. Organizations can establish a systematic approach to sourcing that guarantees projects and events are both efficient and productive. Project management can also be easily incorporated into the sourcing process and enable cross-functional collaboration for creation of long term sourcing plans and tracking.

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Format: HTML | Date: Jan 2002 | Pages: 1