Procurement & Sourcing
Strategies
At Relec Global we believe in Composable Procurement. Yup, you read that right… Composable Procurement. That’s a new approach to solution design where you select best-of-breed software modules – from the same vendor – so they already work together seamlessly (and with your existing systems) rather than connecting them with endless APIs or buying a monolithic, all-in-one monster. Below are some examples of composable designs that address common solution challenges. Don’t see your specific issue? We are happy to talk through your problem and identify a composition that can help you.
DIGITAL PROCUREMENT TRANSFORMATION
Move processes from paper and people to AI and automation.
Digital transformation is more than just getting rid of paper copies. It includes opportunities to capture information, analyze data for insights, and automate processes. The increase in cross-system flow improves workers’ ability to make data-driven decisions.
TAIL SPEND CONTROL
Small deals add up — 80% of suppliers account for only 20% of spend.
Making it easier to buy using the system captures more spend, provides more visibility and control over tail spend. And when you consolidate purchases you can negotiate with vendors to save even more.
SUPPLIER DIVERSITY MANAGEMENT
Beyond tracking diversity. Enabling change.
Knowing what percentage of suppliers is diverse is not enough. See how much you spend with each one and make positive changes to use and support them more.
SOCIALLY RESPONSIBLE PROCUREMENT
Using a vendor with the cheapest price doesn’t hold water if they are polluters.
Companies are accountable for using vendors that support environmental sustainability, drive for social impact, and maintain proper corporate governance (ESG). Drive data into your corporate social responsibility (CSR) program.
SAVINGS REALIZATION
Insights on your spending trends, savings opportunities and resulting cost realities.
Guide your procurement and sourcing teams on ways to save. Keep them motivated by showing them the fruits of their labor.
PURCHASE PRICE VARIANCE (PPV) BENCHMARKS
Using a vendor with the cheapest price doesn’t hold water if they are polluters.
Companies are accountable for using vendors that support environmental sustainability, drive for social impact, and maintain proper corporate governance (ESG). Drive data into your corporate social responsibility (CSR) program.
