Sourcing Modules

RFI: Request for Information, usually for qualification of suppliers before RFQ

RFQ: Request for Quotation, where bidding on items occurs

RFP: Request for Proposal (combined RFI & RFQ), eTenders

eTenders: Publish tenders online & receive supplier quotes

Reverse Auction: Real-time auction where suppliers bid against each other, reducing bids until the close

Forward Auction: Real-time auction usually held to let buyers sell unused inventory back to suppliers (suppliers increase bids until closure of the event)

PR to PO Enablement

PR Workbench

Facilitates classification of suppliers in various segments

Decision support for strategic sourcing process

Helps increasing focus on strategic & important suppliers

Supplier Collaboration

Integration with ERP system to show progress of PO, ASN, Inspections & Invoice

Ability for suppliers to update

Salient Features

Support for multiple currencies, languages & time zones

Cloud based multi-tenant application

Extensive Reports & Saving Dashboards, Access to sourcing calendar, Track real-time status of sourcing events, Sourcing volume, Savings being achieved & buyer-wise activities

Experienced OPT-Source team can help design & manage the entire event lifecycle

GST Compliant Sourcing Solution including landed cost calculations

Key Benefits

Transparency – RFx provides immediate visibility to event status, templated scoring mechanism & bidder participation

Time savings – Auction (Reverse & Forward) takes no longer than 30 minutes as compared to a traditional negotiation process that may take several days

Cost savings – latest results show average savings of up-to 15%

Higher level of process transparency, accountability & auditability

Enhanced competition as more suppliers are included than in a traditional negotiation process

Process Compliance – RFx ensures that all buyers are using the right templates, T&C’s & scoring mechanisms