Top 5 Ways to Shake Things Up

We all need to try new things from time to time – even in Strategic Sourcing!

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Tuesday, October 15, 2019

We all need to try new things from time to time – even in Strategic Sourcing!

Let’s face it… Sometimes even driving savings upon savings can start to seem routine. Even if you’re getting 10%+ savings on every eAuction, it’s still fun to try something new. It’s also an accepted fact that introducing new categories, players, approaches and strategies help improve savings rates.

Below are some of the best tactics we’ve seen to “shake things up” and add some spice to your procurement life:

  • Find a new stakeholder
  • Try a new category
  • Explore a new tool
  • Test a different format
  • Find a new friend

1. Find a new stakeholder to help – One of the best parts of working in procurement is that you get to interact with all parts of your organization. As a challenge, pick a department or location that you haven’t worked with much in the past and then find a spend owner with whom you’ve never worked. If you introduce yourself as an additional resource for them to get their job done, you’ll be surprised how much success you’ll have

2. Try a new category – This is the most obvious of “new” approaches but that’s for a good reason. There are many stories about the amazing results to be had when you first apply eSourcing techniques to a new area. Just this week, we had a customer try out a Japanese auction for the first time on construction tools and saw 40%+ savings. We’ll be publishing a snapshot on this great story soon

3. Explore a new tool – Chances are that you are currently using all the tools in the Scanmarket platform. In order to find out how another part of the platform can make your life easier, contact your Scanmarket account manager to give it try

4. Test a different format – Scanmarket’s platform offers a host of different bid types, from CherryLot to Japanese. Despite the number of different formats, it is true that most organizations consistently use the same formats for the vast majority of events. Instead, take a look at this video and pick out a new format to try

5. Find a friend in cyberspace – As we mentioned in the blog post about new suppliers reference above, social media networks can be valuable tools – IF YOU USE THEM. Try using them to find a new friend who might have valuable ideas to share. For example, try searching LinkedIn for contacts with similar titles or the Scanmarket eSourcing group to find others facing similar challenges.

There’s a saying that “If you love what you do, you’ll never work a day in your life”. Try some of these tactics to inject something fun into your routine. Best of all, you’ll probably end up with some additional savings in the process!

For more information on these approaches or to learn more about how Scanmarket can help you achieve your business objectives, please visit us at www.scanmarket.com or contact your Scanmarket Account manager.

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