Despite sourcing being central to supply chain and procurement processes and the business as a whole, it continues to take a backseat in most organizations’ digital transformation priorities. However, in a worrying trend, 1 in 3 organizations isn’t sure where to start digitalizing their sourcing & procurement processes, despite nearly 84% admitting its criticality.
However, large-scale sourcing is an increasingly common procurement scenario. Therefore. each event sees participation from scores of suppliers – often 250+ – placing bids across 60,000 to 80,000+ lanes. Therefore. in this large-scale sourcing event, organizations need to model and analyze thousands of bids and conduct various what-if analyses to award the bid to the best-fit supplier out of this massive pool.
Advanced sourcing optimization alleviates these factors enabling sophisticated what-if analysis models unlocked by advanced computing capabilities. It is a radical improvement over the Excel-based models that exist in traditional eSourcing, with the potential of reducing the sourcing lifecycle by more than 50%.
Get access to the full white-paper here- https://www.zycus.com/knowledge-hub/whitepapers/large-scale-sourcing-cheat-sheet-essential-guide-to-sourcing-optimization.html.
The white-paper covers-