The Strategic Sourcing Process
Additional Procurement Services
Cost Reduction Opportunity Assessment
Are you looking to reduce costs but are unsure of which areas of spend offer the most savings or which spend categories could be consider quick wins vs. long-term opportunities? Source One’s strategic sourcing experts can help. Alongside our spend analysis services, our procurement experts can bring to light your cost reduction opportunities. Leveraging our decades of experience, our category subject matter experts will not only show you which areas of spend have the most savings potential but also equip you with tips and advice for approaching the category. And, if you decide you need additional resources to get the job done, the Source One team can deliver on-demand support based on your project (s) or staffing needs.
Opportunity Assessment Services
RFx Administration Services From Strategic Sourcing Experts
With decades of strategic sourcing experience, Source One’s RFx administration experts can help your company run sourcing events that will yield the best results for your cost reduction initiatives.
A critical phase in the strategic sourcing process, administering the RFx is where key information is exchanged between buyers and suppliers, including insight into the market place, supplier capabilities, and potential cost reduction opportunities. After you’ve gone through the process of identifying your supply base, mapped out your RFx strategy, now’s it’s time to administer your RFx. Whether your method is an initial request for information (RFI), full request for proposal (RFP), and/or a detailed request for quotation (RFQ), how you engage suppliers and manage the RFx administration process is crucial to the success of your sourcing initiative. Without proper communication techniques, any small misunderstanding or seemingly minor obstacle can throw your entire strategic sourcing initiative off course and even damage your credibility with contending suppliers.
As a procurement services provider with decades of experience executing strategic sourcing initiatives for top organizations, Source One’s team of experts is well versed in the development, distribution, and management of RFx events and can help make the RFx administration process a breeze. Source One’s strategic sourcing consultants, understand the direct impact the use of effective RFx administration and communication strategies have on the quality of supplier responses during the RFx bidding phase and can help your procurement team optimize your strategic sourcing results.
As the RFx is an opportunity to leave a lasting impression on your potential suppliers, keeping communication open is a crucial driver of RFx administration success. From the moment potential suppliers are identified, Source One’s RFx administration experts begin cultivating the foundation for a healthy relationship – leading to more valuable responses that enable an informed decision.
From competitive pricing shopping all the way to complex new product sourcing, our RFx administration experts have you covered with end-to-end support:
- Conduct initial outreach to gauge RFx participation interest
- Collect confirmation of intentions to bid
- Administer the RFx via your tool or channel preference, or our own eSourcing Tool
- Address supplier questions via email or though blind conference sessions
- Collect and validate supplier responses
- Maintain RFx timelines and communication with suppliers throughout the process
- Compile responses in an easy-to-read report or scorecard
- Perform healthy “supplier breakup” or elimination calls
We aim to make the strategic sourcing process as seamless and effective as possible. By working with Source One, our strategic sourcing consultants will not only exercise best practices to enable a well-informed decision for selecting the best-fit supplier for your organization, but also teach your team our strategies and category-specific approaches so you’re equipped to repeat the process again in the future without our involvement. Contact our team of strategic sourcing experts to learn more about how we can optimize your RFx event today.