Krinati Solutions

  Reason 1: Inviting unqualified suppliers to the auction event Auctions should immaculately be the final step in the negotiation process. Negotiating with suppliers post the auction is a big no-no. Also, qualifying suppliers post the auction has its drawbacks too. Assume the smallest-ranked supplier is disqualified post the transaction. The coming ranked supplier will misdoubt the veracity of the event and will probably be irritated. Reason 2: Poor supplier management Suppliers would much rather fight in a transparent and fair market, where their capabilities can be fairly estimated. They prefer to join the auctions with capable suppliers. They doubt an unclear selection and shortlisting process. Having a simple auction tool is critical to ensure suppliers aren’t discouraged from joining online auctions. Some common supplier queries are the following: Why is the buyer even conducting  reverse auction sourcing ? We’ve serviced them well over the times and delivered good value,...

What is eSourcing? The process of Sourcing involves looking for new suppliers, assessing their capability, comparing their products and their offerings with the demand or with the incumbent supplier’s offering, uniting with all suppliers to receive marketable bids, researching the bids, and negotiating for the optimum price & capability mix. Depending on the strategic nature of the goods or service being sourced, some stages of the sourcing process assume more importance, say brainstorming sessions to decide on cost reduction regulators, inputs from manufacturing and quality teams on issues faced and framing an approach that addresses them. eSourcing platform  helps to digitalize the entire Sourcing process through an online platform that’s penetrated by both the buying team and the suppliers. eSourcing result generally delivers 3 functionalities viz. 1. Request for Information( RFI) A questionnaire that suppliers respond to. Given the strategic nature of the sourced ...