Executive Briefings

All Together Now: Collaborative Sourcing Helps Save Money

Increasingly, the supply chain and procurement departments are turning to digital solutions, rather than traditional manual systems, to maximize results. Recent research points to a substantial potential upside.

The 2014 Project & Procurement Management Benchmark Report, sponsored by Noosh, found that online collaborative sourcing platforms, which allowed multiple bidding on a centralized platform, saved organizations an average of 20.7 percent, when comparing the lowest estimate with the average of all estimates. The report analyzed data from hundreds of global brands representing nearly $12bn in project management transactions spanning marketing and print services, engineering services, major syndicated media, and enterprise shared services.

"The supply chain function lends itself to the use of tools, like email and spreadsheets, but we are seeing a trend in the marketplace where SaaS is beginning to replace these old tools en masse," said Mark Tiedens, vice president of marketing and customer operations at Noosh, a project and procurement platform.

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The 2014 Project & Procurement Management Benchmark Report, sponsored by Noosh, found that online collaborative sourcing platforms, which allowed multiple bidding on a centralized platform, saved organizations an average of 20.7 percent, when comparing the lowest estimate with the average of all estimates. The report analyzed data from hundreds of global brands representing nearly $12bn in project management transactions spanning marketing and print services, engineering services, major syndicated media, and enterprise shared services.

"The supply chain function lends itself to the use of tools, like email and spreadsheets, but we are seeing a trend in the marketplace where SaaS is beginning to replace these old tools en masse," said Mark Tiedens, vice president of marketing and customer operations at Noosh, a project and procurement platform.

Read Full Article