Strategic Sourcing
Adequate supply capacity is critical to meet customer demand, and understanding the costs and risks associated with your sourcing partners can significantly impact gross margins. Establishing a strategic sourcing program requires a centralized view of total spend activity across products or activities so that you can compare vendor costs and find the best products or services that align with your product margin goals.
Identifying the right sourcing and procurement strategy requires balancing costs, lead times, customer demands, and product quality. ImpactECS provides the platform to combine data from engineering, procurement, operations, and supply chain with quote and bid data from suppliers to identify the right partner sourcing partners.
Improve your sourcing and procurement cost insights with ImpactECS
- Standardize quote process: Create transparent, standardized, and repeatable quote processes with product templates, version tracking, and history to improve workflow and benchmark performance
- Evaluate and manage suppliers: Create, manage, and compare supplier quote details and procurement information to drive vendor selection and ongoing management
- Handle global sourcing issues: Include landed material costs (taxes, tariffs, and transportation costs) and handle currency and unit of measure conversions with ease
- Centralize cost data: Establish master data set for material, labor, packaging, value-added services, and other inputs with internal prices and rates
- Simulate cost performance: Adjust procurement costs and volumes to determine breakeven and balance product costs, prices, and service levels
Resources
It Starts with Costs
Download the eBook >Daily News for Finance Leaders
Read the Ledger >Raw Material Spending and Your Budget
Read the Article >Is Your Product Costing Process Healthy?
Get your Score >Learn More About ImpactECS
Visit the Video Library >Ready to see ImpactECS in action?
Get a glimpse of how we help companiesunderstand their costs and profits