Helping you Apply Best Practices in Procurement
Source One provides a series of performance improvement services to continually achieve greater procurement savings while improving operational effectiveness.
In recent years, having the proper procurement strategies has become a critical component of the overall success of any business. Organizations now must focus on making their procurement initiatives as efficient and cost effective as possible to ensure they have a competitive edge in their industries.
Advancements in technology, and external economic forces have increased the impact of company profitability. Procurement and supply chain management are now in the position to produce real results that will have a major impact on the organization’s bottom line profit.
Using Best Practice Procurement Processes, companies have realized substantial cost reductions through:
- Understanding the cost drivers that determine the total cost of the supply chain,
- Elimination of non-value adding process steps,
- Increased efficiency across the entire supply chain,
- Aggregation of demand, supplier rationalization, strategic sourcing, and enhanced supplier relationships,
- Electronically enabling the supply chain,
- Use of paperless e-Procurement tools and e-commerce portals,
- Cycle time improvement: Reduction of time from order to receipt,
- Reduction of carrying costs, warehousing, movement, obsolescence and shrinkage,
- Alternative inventory ownership agreements, retained consignment and vendor managed inventory.
Taking a team-based approach to procurement will ensure that the procurement department alone is not totally responsible for the company’s success.
Cross-functional teams will work together to achieve goals and will help to create the best practices that are carried throughout your organization.
Source One will assist your organization in adopting the key best practices in your procurement strategy, that will make the difference in your company’s success and overall bottom line.
The Use of Procurement Best Practices
Throughout our engagements with our clients, we will assist in selecting and implementing the best practices in procurement that work for your organization. We recognize that every business is unique, and each requires a customized solution to best optimize results.
Strategic Sourcing As the leading provider of Strategic Sourcing Services, we have been at the forefront of delivering Strategic Sourcing Best Practices since 1992.
Procurement Database Access to crtical and relevant data will help with every negotiation. Source One has a deep database of previous negotiation results to help.
Procurement Solutions A successful strategic sourcing initiative goes beyond driving savings. We seek to increase the overall qualitative aspects of the procurement process.