Strategic Sourcing Software

Strategic Sourcing Solution

Dramatically reduce total costs and sourcing cycle time

The Power of Sourcing Software

 

The Ivalua Strategic Sourcing solution provides a comprehensive, intuitive and collaborative toolset to automate sourcing of 100% of your spend no matter how simple or complex, tactical or strategic the sourcing process is.

 
 

 

Why Ivalua for Sourcing?

 

  • Easily manage all types of sourcing events — spot bids to full strategic sourcing.
  • Accelerate the sourcing process with templates and customer specific workflows.
  • Collaborate with key stakeholders on RFP preparation, proposal evaluations and bid awards.
  • Get global visibility over all sourcing events and timelines.

 

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Ivalua Strategic Sourcing Modules

Sourcing Projects

Control every aspect of your sourcing project, including the team, documents, tasks and all communications.

KEY FEATURES

  • Process steps according to project type (strategic sourcing, spot bid, double envelope, etc.).
  • Track general project steps and key project milestones.
  • Reporting and tracking of expected financial savings.
  • Task management for each step of the project.

HOW DOES IT DELIVER VALUE?

Ivalua’s pre-configured process templates give users the benefit of managing every type of sourcing project – large or small, goods or services, strategic or spot bid. Streamline bid creation by gathering key stakeholder requirements, dynamically managing required tasks and delegating tasks to project team members.

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RFx

Automate the administrative drudgery of RFP preparation, distribution to suppliers and the gathering of bid responses.

KEY FEATURES

  • Easy creation by RFx type – RFI, simple RFP, complex RFP with cost breakdown, etc.
  • Management of multi-round and multi-lot quotes and of supplier proposal iterations.
  • Progress tracking of supplier responses.
  • Re-use data from past projects or templates.
  • Collaborative grading and comparative analysis of supplier offers by price and qualitative factors.
  • Split awards by percent, quantity or value.

HOW DOES IT DELIVER VALUE?

Save time by streamlining even the most complex sourcing events using pre-configured RFQ and RFI templates. Carry over RFx data to new rounds suppliers move through the negotiation process. Optimize savings with comparative analysis of bids against current and target prices.

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Auctions

Host on-line auctions in competitive categories to drive the lowest total cost for your organization.

KEY FEATURES

  • Option to initiate auction from RFQ bids.
  • Multiple auction types.
  • Multi-criteria ranking (price, technical offer, time commitment, etc.).
  • Manage auctions across multiple lots.
  • “What-if” scenario modeling and gain simulation analysis.

HOW DOES IT DELIVER VALUE?

Drive down costs in targeted categories. Create auctions from scratch or turn an RFP into an auction with real-time competitive bidding. Maintain a rich audit trail by capturing all auction details including quotes, supplier comments and documents in one place for easy tracking and reporting.

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Bills of Materials

Integrate bills of material details into the sourcing process so nothing is missed when introducing new products to the market.

KEY FEATURES

  • Materials repository management, including links to PLM or Master Data management systems.
  • Integration of product BOMs in sourcing projects.
  • Component pricing RFx.
  • Automatic update of Requisitions, Contracts and/or BOMs with negotiated prices.

HOW DOES IT DELIVER VALUE?

Sourcing direct materials comes with its own unique challenges. Procurement teams need to ensure they have all the BOM component details in order to efficiently source. Ivalua’s BOM module allows you to seamlessly integrate BOM details and component information from your master data management system into Ivalua. Leverage information like component volumes and current drawings to generate sourcing events and eventual contracts to your approved component suppliers.

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