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Strategic Sourcing
Optimizing the effectiveness and efficiency of an organization’s procurement activities by obtaining the best available vendor results in the areas of performance, price, contractual terms, responsiveness, and flexibility is a competitive necessity. Drawing upon our strong Supply Chain Management (SCM) capabilities, we tangibly improve our clients’ purchasing results by implementing advanced SCM technology tools, executing rapid sourcing programs, conducting reverse and forward auctions, employing rigorous spend analyses, and optimizing end-to-end results in the “source to settle” process.
Our approach includes:
- Performing category assessment and spend analysis to develop the sourcing strategy – which very often may result in re-negotiating existing agreements in lieu of a full-blown procurement process
- Drafting Requests for Proposal (RFPs) and end-to-end management of the procurement process, including bidders’ conference, vendor Q&A during bid process, managing the integrity of the flow of information between client and vendor(s), staging and executing online sourcing events, and conducting vendor training for online events
- Evaluating vendor proposals by normalizing the analysis of offerings (enabling “apples to apples” comparisons) across technical, operational, business, and financial dimensions
- Managing term sheet negotiations and the down-selection process, including best and final phases and pre-negotiations
- Directly leading and/or participating in contract negotiations with selected vendor(s), sitting side by side with our clients and their internal or retained legal resources
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| Strategic Sourcing has become a 'business excellence table stake' for virtually all Fortune 500 companies, government agencies, and the vast majority of middle market companies. |
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