Once you establish your mission to digitize and take your Procurement processes online, you need a smart sourcing solution that’s most suitable to your needs, in terms of not just digitizing but also streamlining and speeding up the process. Standardization and automation of workflows can reduce transactional costs and greatly save precious time in this process.
Strategic sourcing environments – connected to a well-built and intricately managed supplier base – deliver the best results using one solution for various spends – be it materials, services, consultancy, or more.
When Cimmra facilitated Smart Sourcing with its state-of-the-art eProcurement Suite, this solution mitigated the bottlenecks of supply chain management with ease and speed.
How Does Sourcing Events Work in Cimmra eProcurement Suite?
The automation-assisted handling of purchase requests (PRs) within the system leads to speedy and smooth creation and execution of sourcing events..
Sourcing through Cimmra’s eProcurement suite brings significant benefits of standardization, agility, and cost-efficiency. It uses Cimmra Instant Intelligence to compute and serve up qualitative and quantitative analytics for on-the-spot informed decisions. . Teams can manage sourcing for projects, direct and indirect items (materials and services) as well as MRO expenses with great ease using Cimmra’s ultra-simple UI..
The highly intuitive and simple UI helps select the best approach using pre-defined templates and quickly send out invites to a Source List of most suitable suppliers automatically identified for a sourcing event, focusing on volumes, locations, item category, deal size, etc. Also, you can tweak the components or copies based on your procurement needs.
Types of Sourcing Events in Cimmra eProcurement Suite
Gone are the days of slick brochures or handbooks with disparate information. It was space-consuming and stressful to manage and make sense out of. Sourcing events in the Cimmra eProcurement suite make it simpler. It ensures data-driven, tactical buying decisions using online, multi-stage RFx or Auctions.
- Sourcing with RFx
Teams can create the simplest or most complex of sourcing events with equal ease in the least time possible, selecting from global approaches for virtually any requirement like a breeze. Once you set the approach and timelines with options for currency and time zones the process floats seamlessly with secure online access to suppliers and all other stakeholders.
Create a request for information (RFI), proposal (RFP), quote (RFQ), or expression of interest (RFEOI) or a combination of these from anywhere you are, through Cimmra’s centralized platform. Depending on the chosen approach, the platform runs scrutiny and approval workflows involving the correct evaluators before creating response comparison sheets and award scenarios.
- Sourcing with Auctions
Cimmra also enables automated, unattended negotiations through its reverse auctions for sourcing events on the versatile Cimmra Auctions platform. Running reverse auctions is like a horse race where suppliers jockey up to place the bids. Since each of the contenders want your business, negotiation happens automatically with each supplier voluntarily outbidding the others to win it.
With Cimmra’s intuitive interface, you can define your sourcing requirements suitably by including pre-qualifiers, , multiple auction types, closure reporting, and sealed submissions for RFx components.
Forward auctions for disposal on Cimmra Auctions also provides a handy means to liquidate old, depreciated or defunct assets and scrap. The process leads to sustained management with controlled workflows, speedy negotiations, and easy setup. Live monitoring facilitates real-time data analysis to weigh your options.
The Key Differentiators
The entire process of sourcing events in Cimmra is time-managed through a beeline of thoughtfully built features and functionalities, AI-driven source lists, pre-settable T&Cs, and supplier suitability analysis. You can include questionnaires with customized forms and automatically publish the event via emails linked to the event page.
Cimmra also allows modifications and re-publication of events to accommodate changing needs. Sourcing teams can sift multiple suppliers through silos of the supply chain for speedy results.
The flexible suite empowers buyers by reducing turnaround time and managing supplier responses to take necessary steps down the road. It amplifies the sourcing process with reduced operating costs and better spending management. All in all, there’s a lot of ease in Cimmra for everyone – the Buyers, the Suppliers, the Stakeholders, IT and the Management.