New report by BravoSolution

The Gap Widens between Procurement Leaders and Laggards

As the economy shows little signs of recovery, procurement staffs are under immense pressure to deliver top savings with minimal resources.

Sourcing outcomes determines business performance:

Laggards still cling to tactical procurement practices and are struggling to stay in business.

Leaders are implementing new, innovative procurement strategies and taking their companies to a entirely new level.

The Procurement Game Changer: Market-Informed Sourcing

What is Market-Informed Sourcing?

Market-Informed Sourcing enables vendors to go beyond the typical process of responding to strictly-defined tender requirements by proposing their own variants and solutions.

The technology then analyzes and identifies the best possible outcomes – providing the buying organization with sourcing and cost-saving solutions that they hadn’t previously considered.

Procurement Leaders Begin Shifting from Category Management to MIS

Market-Informed Sourcing (MIS) creates the ideal economy for the buyer by reversing the sourcing funnel.

MIS gives procurement executives the upper hand by bringing the market in rather than narrowly defining requirements, which is the driving force behind Category Management.

Market-Informed Sourcing widens the playing field for options that reflect true market costs, giving the upper hand to the buyer.

Procurement Benefits of MIS:Cost Reduction and Innovation

While Market-Informed Sourcing is not replacing Category Management, it signals a fundamental change in the way procurement views sourcing processes and offers clear benefits:

Cost Reduction – Early adopters are seeing savings and valuation improvements of up to 30%.

Innovation – MIS empowers suppliers to get creative in meeting a buyer’s needs by offering new, innovative approaches.

Procurement Benefits of MIS:Resource Optimization and Supplier Collaboration

Resource Optimization – Reduces procurement cycles and the resources required from procurement staff through automation for complex sourcing events and analysis.

Supplier Collaboration – Suppliers and buyers can work together to propose alternatives, creating a truly collaborative partnership.

Market-Informed Sourcing

Download the full report, free of charge, at BravoSolution.com.

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