Develop sourcing pipelines and build reports to measure progress.
Sourcing
Organizations that maintain top-flight supply bases regularly go out to market, particularly for large and/or strategic initiatives. Sourcing, when done right, is much more than a race to the lowest price but rather an opportunity to maximize alignment and value. To build and maintain an outstanding supply base, it’s critically important to revisit the market and align your supplier relationships with your business priorities, whether that means price, speed, quality, or service level.
Benefits of Supplier Compliance and Risk Reduction
Cost Savings
Sourcing events can help organizations to save money by ensuring that they are sourcing from the most cost-effective suppliers.
Greater Optionality
Procurement departments can gain access to a larger base of suppliers by running sourcing events, which can help them to identify the best suppliers for their needs.
Higher Quality
By running sourcing events, organizations can ensure that they are sourcing from suppliers that meet their quality standards.
Quickly create and deploy sourcing events like RFPs, RFIs, and RFQs.
Reverse auctions for accelerating negotiations with suppliers while increasing transparency.
Tie sourcing activities back to supplier records for a holistic view of supplier opportunities.
Vendorful streamlines and automates sourcing activities.
See how it works
Vendorful is not vanilla SRM software. We take a more holistic view of strategic sourcing and marry supplier management features with robust sourcing capabilities. By clicking one of the buttons below, you can watch videos and point-and-click walkthroughs or set up live conversation. What are you waiting for? Click one of the buttons below!
Vendorful is smarter strategic sourcing and vendor management.
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