Tejari has been brought in to provide the process experience and expertise to ensure the sourcing event project runs successfully. Tejari will support you at every step of the event with professional advice, tools, well thought out processes and robust documents and templates.

Tejari will turn this event into a very interesting project, which concluded with significant cost saving.

What is Strategic Sourcing through Event Management?

At its base, strategic sourcing is the application of the principles of strategic planning, management, and cost reduction. The key is to view the procurement function in strategic terms across the entire panoply of items purchased.

The next step is to analyze the methods involved in purchasing. The goal is to implement objective means of purchasing the items to achieve the best value (price, quality and service) or set of conditions.

Why Strategic Sourcing through Event Management?

There are three critical components to achieving a successful strategic sourcing process: technology, information, and expertise.

Strategic sourcing frequently includes the use of an electronic Reverse Auction.
Reverse auctions are an important tool in strategic sourcing.
In fact, there is some risk in using a reverse auction improperly:

• The results of an improperly managed reverse auction can actually be worse than for not using strategic sourcing.
• Vendor relationships can be damaged and unsuitable vendors entered into the purchasing equation.
• Therefore, it is imperative that the auction be run in the proper manner and that a third party is used to provide support for the client organization and address its deficiencies

Therefore, the remedy is to employ a third party to provide the expertise and experience that the buyer may be lacking. This ensures that:

• The process will run smoothly
• Risks will be minimized
• The buyer will avoid the perils of the learning curve
• Buyer input is properly translated to auction parameters

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Benefits

• Strategic Sourcing though Event managed by a third party added value include:
• Sustaining strategic sourcing savings by overcoming the challenges in maintaining high levels of compliance and enhancing infrastructure and processes
• Increasing access to data on key procurement performance metrics for better decision making
• Reducing spend handled by non purchasing staff, avoiding unapproved choices of suppliers and procurement management criteria

Why Tejari?

• Our qualified consultants will manage the project from the beginning by efficiently and effectively sourcing suppliers.
• We will guarantee quality through an extensive and rigorous RFI and RFQ process, overseeing the eAuction process, and guiding you through our post-eAuction analysis
• If you are worried about the implications that the eAuction would have on the profitability on your key accounts, we will assist you in the process and share with you the skills and expertise. As a result:
  
  
  • Your supplier will realize a significant increase in the volumes of business received
  • Improving inefficient procurement operations resulting from manual processes and duplication of effort, along with related inconsistent processes and supplier proliferation
  • You can realize value in the following areas:
    
    
    • Economies of scale - The use of one integrated platform across the extended enterprise and related processes maximize the chances for leveraging centrally negotiated contracts.
    • Process optimization - A single platform can support and consolidate sourcing and purchasing processes.

Click for more information on how to improve the effectiveness of your events.

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