Strategic Sourcing Software

Strategic Sourcing Solution

Dramatically reduce total costs and sourcing cycle time

The Power of Sourcing

 

Sourcing is where procurement can deliver its highest strategic value – provided it isn’t bogged down with paperwork. Ivalua unlocks the speed and insight required to manage complex projects and supplier interactions, and provides a solid platform to fully leverage real-time information to negotiate effectively.

 
 

 

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 & RFX

Control your sourcing projects and automate RFX preparation, distribution and gathering of responses.

KEY FEATURES

  • Define and track sourcing projects, teams, documents, tasks and progress.
  • Gather key stakeholder requirements, collaborate with flexible workflows.
  • Create or reuse different types of events – simple or complex, multiple or single lots, rounds and iterations.
  • Scoring and compare bids, use optimization scenarios, split awards by percent, quantity or value.
  • Quickly flip an RFX into a Contract- automatically copying all data.

HOW DOES IT DELIVER VALUE?

Manage multiple sourcing project types, streamline bid creation, dynamically manage sourcing team, tasks and progress. Use pre-configured project and RFX templates, reuse or create news. Carry over RFx data to new rounds as 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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Category Action Plans

Create and manage action plans to action category management initiatives and improve procurement performance.

KEY FEATURES

  • Roll out central procurement action plans across your organization via local actions in each entity.
  • Formalize action plans using an online form, workflow and validation.
  • Define category-wide objectives for cost reduction or supply base improvement.

HOW DOES IT DELIVER VALUE?

Efficient process for managing action plans related to category management and other procurement initiatives. Assess impact of procurement Initiatives and actions on savings. Enhance savings throughput by executing action plans with maximum impact.

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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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