Here we explain the Sourcing Business Solutions approach to saving money for your organization.
Our approach to Strategic Sourcing
Many procurement professionals simply compare the current price per unit to a new price per unit. This simple exercise does not represent what strategic sourcing is all about.
At SBS, we put strategy and goals into perspective with every project we engage in. This strategic focus allows us to explore solutions with your company. We evaluate the supplier relationship, contract issues, services, and potential value throughout your operation.
Our Strategic Sourcing methodology
We analyze data on the front end to determine the revenue potential and/or expense reduction opportunities at your company. Our experience in multiple industries including retail, pharma, telecom, and manufacturing, allow us to evaluate potential opportunities through a strategic sourcing process that has been proven many times over.
We will also evaluate your key contracts in place as part of our data review. After the opportunities have been identified, we will dig into the details and have access to research in many expense areas including but not limited to:
- Office supplies
- Janitorial supplies
- Corporate services with 3rd party suppliers
- Temporary labor
- Background screening services
- Hotel costs
- Travel agencies
- Credit card programs
- Relocation expenses
- I.T. hardware, software
- Small parcel shipping
We then collaborate with your team and determine if any quick wins are available without having to produce a large scale Request For Proposal (RFP). This step includes validation of data and opportunities. Making sure that the team includes the right people is key to the overall project’s success.
We will then nail down our strategy which might include issuing a formal RFP to suppliers. Our team will run the RFP and reduce the administrative burden on your team. We can also work side-by-side your team on the RFP steps and co-source the entire project with you. This co-sourcing opportunity allows your procurement team to retain knowledge that is passed to them from our research and expertise.
Making a supplier decision and completing the legal contract. Without a decision, value cannot be added to your company. Our team will work with your stakeholders to ensure the decision is sound and articulated to others properly. We will also assist by working with your legal team and the supplier on terms and conditions so that the value desired by your company can be captured in a contract.
Over ten times payback
Our clients typically benefit over 10 times the amount of fees we are paid. Our website has a few examples of recent projects. Check us out at www.SourcingBusinessSolutions.com or call us at 865-805-4356.
While we cannot guarantee savings with our work, our clients can speak to the value added to their company. Before you ask yourself how much our services cost, we believe that you should be asking about the potential value that we can bring to your company.
We also have a no-risk offer and are willing to work on a contingency basis and share the savings captured. Our savings exceed 15% and are higher than what is typically achieved from internal resources. We look forward to working with you in your expense reduction projects.