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| | Navint Strategic Sourcing Solutions | |
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| | Strategic Sourcing-Overview | |
|  The idea of strategic sourcing was first introduced by James Bryant Quinn's 1992 book called “Intelligent Enterprise”. Strategic sourcing is directed towards lowering costs by implementation of smart ways in the functioning of a business enterprise, especially in supply chain management. The concept of strategic sourcing is focused towards reducing purchasing costs and gaining competitive advantage by improving profits. During strategic sourcing implementation, the strategic sourcing solution provider firm lays a great emphasis on suppliers who are considered invaluable to an organization. Extensive research and surveys are done to reduce all and any cost that does not provide any value to business. | |
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| | Strategic Sourcing- A Systematic Process | |
| | Organizations these days are faced with a mammoth challenge of reducing purchasing costs and are struggling on a daily basis to achieve significant cost savings in the supply chain management. Strategic Sourcing aims to implement a systematic process by way of which when an organization purchases products (including raw material) or any services, minimum costs should be incurred. At the same time quality of the products and services being purchased should be evaluated. | |
| | Strategic Sourcing is being seen by all enterprises, small mid-size or large as an approach that is directly related to revenues. Due to this reason, organizations are taking a re-look at their purchase processes and other related processes to ascertain the best way of doing so. They are striving to find out where to source core competencies for optimum value. The secret to such cost saving lies in Strategic Sourcing which makes use of a comprehensive spend analysis for selecting a vendor to supply a particular product or service in routine use by the enterprise. Strategic Sourcing also emphasizes on support and service in supplier-customer relationship. | |
| | The key to Strategic Sourcing lies in properly defining the various functions of an organization in order to achieve the required quality levels at a reduced cost. A well-ordered and regimented approach is used for reviewing the entire organization structure and the process consists of certain systematic steps as: - Organizational and Market Surveys: The Strategic Sourcing team collects extensive information on the buying trends of the organization. Internal interviews, in-house surveys, and comprehensive market analysis are undertaken to accurately determine the quantity, quality, purchasing schedule and choice of vendors.
- Defining Products, Materials and Service requirements: Scientific estimates are made to determine specifications of products and services. This includes the quantity of various commodities and the expected features of a service.
- Identifying Most Suitable Suppliers: Competitive advantages offered by all prospective suppliers are thoroughly analyzed by the Strategic Sourcing consultants before finalizing a particular supplier. Your Strategic Sourcing Consultant will also take care of Supplier-Customer negotiations related to service terms and pricing and contract signing.
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| | Benefits of Strategic Sourcing - Through strategic sourcing integration, significant cost savings through supplier and commodity consolidation can be achieved.
- Strategic Sourcing takes into account not just the selling price of a product/service, but due consideration is also given to costs involved in storage, maintenance and repair. This composite approach results in higher business profits.
- It leads to increased visibility of expenditure on direct and indirect services and commodities.
- Strategic Sourcing re-designs the data flow in an organization. It eliminates redundant functions and revitalizes the less profiting ends.
- It makes the customer-supplier relationship a mutually beneficial relationship. With increased supplier participation that comes with Strategic Sourcing, suppliers can make significant contribution to saving time and money as well as maintaining the requisite quality standards.
- It gives an opportunity to small and medium sized suppliers to win major contracts.
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| | Navint – Strategic Sourcing Consultant and Solution Providers | |
| | To attain the maximum benefits of strategic sourcing, enterprises are constantly working towards reducing their supply chain costs. For this they are opting for e-commerce and related technology solutions. Navint is a leading consulting and technology solutions firm and has been providing Strategic Sourcing Services to some of the biggest organizations across the globe. Through its extensive knowledge base, technology and domain expertise, Navint has been successfully providing Business Intelligence solutions for years now. The major solutions of the company are Tier 1 Enterprise Solutions, Microsoft Business Solutions and Custom Application Development solutions and Navint ERMS. | |
| | After the rebranding of Microsoft Business Solution as Microsoft Dynamic Business Solutions, Navint extends its consulting, implementation and training services for the new Microsoft Dynamic Business Solutions. Read about: | |
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