Strategic Sourcing

Our strategic sourcing is a structured approach to procurement that focuses on achieving the best value for an organization while maintaining or improving the quality of products and services. Our methodical process aims to optimize supplier selection, negotiation, and contract management.

Here’s an overview of our strategic sourcing process:

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Assessment and Planning

  • Identify Needs:

We begin by understanding your organization procurement needs.

What goods or services are required, and what are the specifications and quantities?

  • Market Analysis:

We conduct market analysis to identify potential suppliers, assess market conditions, and understand industry trends.

  • Spend Analysis:

We examine your historical spend to identify opportunities for cost savings and supplier consolidation.

  • Internal Stakeholder Engagement:

We involve key stakeholders within the organization to gather their input and requirements. Their insights can help shape the sourcing strategy.

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Supplier Identification and Evaluation

  • Supplier Search: We identify potential suppliers that can meet the organization’s needs. This may involve research, recommendations, or using our supplier databases.
  • Supplier Pre-qualification: We assess and pre-qualify potential suppliers based on criteria such as financial stability, capacity, quality standards, and technical competences.
  • Supplier Audits: We perform audits or more detailed assessments of shortlisted suppliers to ensure they meet your organization requirements.

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RFI (Request for Information) and RFQ (Request for Quotation)

  • RFI: We send out RFIs to gather information about potential suppliers, their capabilities, and their interest in the project. This helps in creating a shortlist of suppliers.
  • RFQ: We issue RFQ’s to the selected suppliers, outlining detailed project requirements, specifications, and evaluation criteria.

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Supplier Selection and Negotiation

  • Supplier Evaluation: We evaluate RFQ responses and conduct a detailed supplier assessment. Consider factors like cost, quality, delivery capabilities, and compliance.
  • Negotiations: We negotiate terms and conditions with shortlisted suppliers. This includes price, delivery schedules, payment terms, quality standards, and other contract terms.
  • Supplier Selection: Based on negotiations and evaluations, we select the most suitable supplier(s) that best meet your organization needs and objectives.

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Contracting and Agreement

  • Contract Development: Draft a formal contract that outlines all the agreed-upon terms, conditions, and responsibilities of both parties. Ensure legal and regulatory compliance.
  • Contract Execution: Finalize and sign the contract with the selected supplier(s). This marks the formal commencement of the business relationship.

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Supplier Relationship Management (SRM):

  • Ongoing Management: We continuously manage and monitor supplier performance. We track key performance indicators (KPIs), ensure compliance, and resolve any issues that arise.
  • Collaboration: We work closely with suppliers to identify opportunities for improvements, innovation, and cost savings.

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Review and Continuous Improvement

  • Periodic Reviews: We conduct periodic reviews of the sourcing process and supplier performance. We assess whether the initial objectives are being met.
  • Continuous Improvement: We identify opportunities for continuous improvement and optimization. This may involve renegotiating contracts, seeking out new suppliers, or making changes to the sourcing strategy.

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Market Analysis Updates

  • We monitor market conditions, industry trends, and changes in supplier landscapes to stay proactive and adapt the sourcing strategy accordingly.

Our strategic sourcing is an iterative process that requires ongoing monitoring and adaptation to changing business conditions and market dynamics. By following this process, organizations can optimize their procurement activities, reduce costs, enhance supplier relationships, and maintain or improve the quality of the products and services they acquire.

Industries

WHO ARE WE ADDRESSING?

AUTOMOTIVE

Stricter emission regulations worldwide require automakers to pivot towards cleaner technologies

CONSUMER ELECTRONICS

Balancing affordability with cutting-edge features poses a perpetual challenge, as consumers increasingly seek value for money

INDUSTRIAL AUTOMATION

Achieving a balance between cost-effectiveness and the integration of cutting-edge technologies is an ongoing concern

HEALTHCARE

Demographic shifts, including an aging population and a surge in chronic diseases, stress healthcare systems globally

OIL & GAS

The industry faces growing pressure to innovate and embrace digitalization for improved efficiency and sustainability

RENEWABLE ENERGY

The renewable energy industry grapples with intermittency, high upfront costs, and grid integration challenges on its path to widespread sustainability.

Do you have additional questions? Do not hesitate to contact us

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