Strategic sourcing is a keystone to building an organization’s capability to leverage world-class functional excellence in their supply chain. A Strategic Sourcing program is typically 40 percent of any company's external spend - making it the most powerful cost management program available today. Equally as important, Strategic Sourcing positions a company through the establishment of world-class supplier networks and processes to create maximum competitive advantages.
iServiceX has solid experience in implementing Strategic Sourcing and innovative Supplier Development programs across a variety of industries, for a broad range of materials and professional services. Strategic Sourcing with iServiceX combines world-class sourcing expertise, a powerful methodology, the use of our proprietary leading edge web-based sourcing tools (ROSI ®), and a comprehensive total cost approach to produce dramatic savings and sustainable results. Collectively, we have helped companies save tens of millions of dollars in materials and services. Our focus areas related to Strategic Sourcing include:
- Spend Analysis: Our experts can leverage spend-categorization tools and knowledge to help you see exactly what your company buys, how much you are spending with each supplier, and where the best savings opportunities exist.
- Strategic Sourcing, which primarily focuses on improving the price and quality of goods and services procured from third-party organizations. Full Service Strategic Sourcing: We can provide as much process and category expertise as you need to help you effectively source categories. Self Service eSourcing: We can equip and train your team to increase sourcing speed, efficiency, and results with a fully integrated set of eSourcing tools.
- Demand Management, which focuses on standardizing, reducing and shifting demand for third-party goods and services, while improving current service levels.
- Procurement Process Enhancement, focusing on improving the process flows and success factors within the sourcing and procurement function.
- Technology, which introduces or leverages a variety of technology in areas to bring the most benefit. At the core of our sourcing services is a powerful Web-based eSourcing platform called ROSI TM Whether accessed by our experts or yours, ROSI TM maximizes sourcing speed and results through robust functionality that includes; Statements of Work, eRFI, eRFQ, eAuctions, and Knowledge Capture
- Contract Compliance, which focuses on working with you to analyze third-party contracts and developing processes to reduce maverick buying.
- Interim Management, which involves talented iServiceX executives assisting management to implement an effective internal procurement group
- Insource/Outsource Evaluation that helps companies reduce cost or improve effectiveness of non-strategic activities and functions by exploring well documented options for internal or external leverage of best performer.
- Customer as a Supplier strategic decision making and leverage to drive and balance cost management as well as top line growth objectives when your key Suppliers are also your key Customers.
Our industry-leading Strategic Sourcing team is able to deliver expertise in all aspects of the sourcing process, including:
- Strategic Sourcing and e-Sourcing Opportunity Assessment & Strategy
- Strategic Sourcing Program Design & Implementation
- Implementation of eSourcing Tools
- Activity Based Costing of Total Supply Chain Costs
- Supplier Development & Performance Management Programs
- Post-Sourcing Value Discovery
- Contract Negotiations
- Vendor Selection
- Consumption Patterns
- Total Cost of Ownership
- Performance Measurement
- Knowledge Transfer
- Make vs. Buy
- Insource/Outsource Analysis
Source more. Save more.
Regardless of whether your company wants better tools, additional sourcing expertise, or all of the above, we can help you identify additional savings across more categories in less time. In fact, iServiceX clients have reported:
- Significant reduction in sourcing cycle time and effort
- An average of 15-30% cost savings