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Steps to Strategic Sourcing

Analyze Spend & Gain Visibility

Classify spend across multiple parameters and dimensions including supplier, category and business units Make visibility across the procurement process a priority not just spending 360 visibility supports a full range of strategic procurement activities
12 Steps to Strategic Sourcing
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Analyze Opportunities
Visibility enables sourcing professionals to analyze the nature, scale and complexity of categories Sourcing professionals can now determine if a strategic sourcing approach can deliver additional value over alternative approaches which in turn can generate savings
12 Steps to Strategic Sourcing
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Analyze Market
Develop an in-depth knowledge of the your ecosystem suppliers, supply markets, the changes in the commodity prices, supply chain structure and economics.

12 Steps to Strategic Sourcing

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Manage Categories
Collect, collate and analyse supplier & buyer reporting data Gather category intelligence through external research reports, internal research and trend mapping on indices)

12 Steps to Strategic Sourcing

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Standardize Sourcing
Rationalize product specifications & standardize buying practices. Set up selection & qualification criteria for suppliers by developing benchmarks created by taking inputs from the various stakeholders involved in the usage of the product/service being procured. Based on the spend analysis & qualification criteria set for suppliers produce a new list of qualified suppliers
12 Steps to Strategic Sourcing
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Encourage Supplier Innovation

Be flexible while seeking information from suppliers as well as inviting supplier bids Rigid contracting terms will inhibit suppliers from offering their best and inhibit mutually beneficial supplier relationships

12 Steps to Strategic Sourcing

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Optimize Supplier Bids

Create & compare award scenarios to suite your business requirements
Lowest bid is not necessarily the best bid Analyze the bid from various business constraints based on material cost / transportation cost / labor cost etc
12 Steps to Strategic Sourcing
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Manage Supplier Relationships Relationship

Create supplier management, enablement and development programs to Improve supplier performance and develop mutually beneficial relationships.
12 Steps to Strategic Sourcing
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Manage Contracts
Monitor and ensure that buyers & suppliers comply with the performance requirements of the contract. Negotiate not only on price but also on various other criteria like payment terms, on-time delivery, volume etc.
12 Steps to Strategic Sourcing
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Share Information
Share information on best practices for a market, category, supplier profiles among both internal and external stakeholders

12 Steps to Strategic Sourcing

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Collaborate
Work closely with internal & external stakeholders Capture knowledge and information effectively & efficiently from many sources (internal & external stakeholders), transform & redistribute it where needed

12 Steps to Strategic Sourcing

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Track Sourcing Benefits

Create & manage sourcing projects on a single platform. Monitor project progress and identify bottlenecks & replicate sourcing best practices across the organization.

12 Steps to Strategic Sourcing

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About Zycus

At Zycus we are 100% dedicated to positioning procurement at the heart of business performance. For more than a decade we have been the world's most trusted leader in Spend Analysis. With our spirit of innovation and a passion to help procurement create even greater business advantages, we have evolved our portfolio to a full suite of Procurement Performance Solutions Spend Analysis, e-Sourcing, Contract Management, Supplier Management, and Financial Savings Management. Behind every Zycus solution stands an organization that possesses deep, detailed procurement expertise and a sharp focus on being responsive to customers. We are a large 600+ and growing company with a physical presence in virtually every major region of the globe. We see each customer as a partner in innovation and no client is too small to deserve our attention. With more than 200 solution deployments among Global 1000 clients, we search the world continually for procurement practices proven to drive competitive business performance. We incorporate these practices into easy-to-use solutions that give procurement teams the power to get moving quickly from any point of departure and to continue innovating and pushing business and procurement performance to new heights.

NORTH AMERICA

Princeton: 103, Carnegie Center Suite 117, Princeton, NJ 08540 Ph: 609-799-5664 Chicago: 5600 N.River Road; Suite 800, Rosemont, 1L 60018. Ph: 847-993-3180 Atlanta: 555 North Point Center East; 4th Floor, Alpharetta, GA 30022. Ph: 678-366-5000

EUROPE

Frankfurt: EPJ Business Center, Suite # 418, Mainzer Landstrasse, 27-31 60329 Frankfurt am Main, Germany. Ph : +49 (0) 69 27-4015-251, +49 (0) 172-614-4874, +49 (0) 69 27-4015-111 Paris: 20, Bis rue Louis Philippe, 92200 Neuilly sur Seine. Ph :+33 (1) 393-58023 London: Office 404, 4th floor, Albany House, 324/326 Regent Street, London, W1B3HH. Ph : +44 (0)800 6226561

ASIA

Mumbai: Plot No. GJ 07, Seepz++, Seepz SEZ, Andheri (East), Mumbai, Maharashtra 400 096 Ph: +91-22-66407676