Whether you need start-to-finish support or just supplemental assistance to fill in the gaps, Corcentric’s combination of broad strategic sourcing experience and on-demand procurement resources can help you achieve your budget optimization goals.
At Corcentric, strategic sourcing is a collaborative effort. Leveraging our decades of experience, diverse spend category expertise, strategic sourcing best practices, and procurement tools and resources we collaborate with clients to deliver value. At each step in the process, our sourcing specialists proactively share their strategic-sourcing know-how and category-specific best practices to our clients. By transferring our procurement knowledge, we ensure repeatable results even without our involvement in future initiatives.
Whatever level of support you’re looking for, Corcentric’s strategic sourcing team has you covered. Offering on-demand procurement resources like diverse category expertise, market intelligence and insights, negotiation and implementation support, our supply management experts can help you find savings faster while refining all qualitative aspects of your relationships with suppliers.
Corcentrics’s strategic sourcing process at a glance:
- Sourcing Strategy Development: Our category experts can help you develop a go-to-market strategy customized to your company’s spend profile, category requirements, and industry.
- Supplier Identification: Corcentrics’s supplier search experts help you compile and verify a list of suppliers that indicate their ability to provide the products and services your company needs. We’ll work alongside your team to collect the detailed specifications and requirements to form the proper market basket, leverage our proprietary database, and get to work identifying potential suppliers.
- RFx Design: Let our team of strategic sourcing experts design RFx documentation that captures your company’s unique qualitative and quantitative needs. We’ll ask the right questions to receive the information necessary for establishing an optimal supply base.
- RFx Administration: Take the burden off your procurement team and let our experts execute the RFx administration process. We’ll handle things from start to finish. That means conducting initial outreach, collecting and confirming intentions to bid, answering supplier questions, maintaining RFx timelines, collect responses and more.
- Supplier Scorecarding and Bid Evaluation: Receive a comprehensive, objective, and well-balanced evaluation of a supplier and/or bid response with a thorough analysis from our strategic sourcing experts. We’ll develop evaluation mechanisms that correspond to your supplier needs and provide you with the information necessary for a sound supplier selection process.
- Contract and Negotiations: Corcentric specializes in contract negotiations. We know what it takes to craft a win-win agreement for both buyers and suppliers. Beyond ensuring market competitive pricing, our strategic sourcing experts will establish strong service-level agreements to meet both your cost and quality requirements.
- Savings Compliance Tracking: Implementation is often the most difficult phase in the strategic sourcing process, especially without the dedicated resources for ensuring adoption and compliance. Our strategic sourcing team can fill in the gaps, acting as your savings cheerleaders and ensuring the compliance you need to realize savings.
As established leaders in strategic sourcing and cost reduction, we understand the importance of having a clear view of the market landscape to find and partner with the best-fit supplier for your company’s purchasing profile. Let our procurement experts take the complexity out of strategic sourcing with our unmatched market intelligence and procurement best practices to achieve your cost reduction goals.
Want to talk to us?
We’re happy to discuss your spend management needs and how we can help.