E-sourcing, or electronic sourcing, involves using online platforms or software to facilitate procurement activities and processes. It encompasses activities such as supplier identification, RFP (Request for Proposal) management, e-auctions, supplier collaboration, and contract management. 

By incorporating these strategic sourcing practices, organisations can achieve cost savings, drive efficiency, manage risks effectively, and build strong and sustainable supplier partnerships.

Supplier consolidation and optimisation. Identifying and consolidating purchases with a smaller number of strategic suppliers to leverage volume discounts and streamline the supply chain.

Global sourcing. Sourcing products or services from different geographic regions to capitalise on cost advantages, expertise, or specific market conditions.

Demand forecasting and planning. Analysing historical data and market trends to accurately forecast demand and plan sourcing strategies accordingly, ensuring the right quantity of goods is procured at the right time.

Total Cost of Ownership (TCO) analysis. Evaluating the total cost associated with procuring a product or service, including not only the purchase price but also factors like maintenance, transportation, and disposal costs.

Risk management and diversification. Assessing and mitigating risks associated with suppliers, geopolitical issues, market volatility, or disruptions in the supply chain by diversifying suppliers or implementing risk mitigation strategies.

Negotiation and Supplier Relationship Management (SRM). Conduct negotiations with suppliers based on a deep understanding of their capabilities and market conditions to secure favourable terms and foster long-term, mutually beneficial relationships.

Value engineering and product innovation. Collaborating with suppliers to enhance the value of products or services through innovation, cost reduction, or improved features, ensuring optimum quality and functionality.

OneAdvanced's Sourcing Management solution enables process efficiencies across your sourcing activities, removing time-consuming roadblocks and automating regular tasks to ensure smooth, friction-free sourcing.

Superior data analytics. Identify savings opportunities, recognise trends, track projects and more with full visibility over supplier data in one central location.

Supplier Engagement. Develop beneficial supplier relationships and ease collaboration with the use of easy-to-use automated tools to deliver faster and better commercial outcomes.

Integrated solutions. OneAdvanced's Sourcing Management brings together a host of sourcing functionalities into one consolidated solution which is accessible to all stakeholders.

Sourcing Management delivers outstanding benefits and a competitive advantage that reaches far beyond your procurement department.

Significant cost savings. Sourcing Management delivers sustainable savings across your sourcing activities. By reducing the amount of time and staffing needed to source suppliers and by ensuring a smoother onboarding process.

Enabling strategic operational procurement. Procurement can be so much more than a matter of compliance and box ticking. Sourcing Management enables your organisation to embrace a strategic procurement mindset that focuses on results rather than processes.

A single unified platform. No more chasing after emails, spreadsheets or files, all the information, data and documents you need are now contained in a single, logical and easy-to-access space.

Strategically aligned sourcing. Ensure your sourcing activities are in line with your organisation’s overarching targets and goals.

Visibility over all sourcing events. Every stage of the sourcing process is tracked and recorded, ensuring full visibility from start to finish and easy analysis.

Company-wide accessibility. Ensure all stakeholders, both within and outside your procurement teams can access relevant sourcing data and documentation. 

Strategic sourcing focuses on long-term supplier relationships, cost optimisation, risk management, and aligning procurement decisions with organisational objectives, whereas traditional procurement is often transactional and focuses mainly on cost savings during purchasing.

Strategic sourcing helps in identifying and mitigating risks by diversifying suppliers, assessing geopolitical factors, implementing risk mitigation strategies, and ensuring business continuity in case of supply chain disruptions.