Study after study shows that businesses almost always experience double-digit savings with a move to e-sourcing. Aberdeen reports that companies using advanced e-sourcing techniques save an average of 16 percent yearly. Despite these numbers, less than half of retail, grocery and restaurant chain organizations are using e-sourcing today, according to an August 2012 study.
Healthy supplier relationships are an essential aspect of the sourcing equation, but they're only one factor. Without access to a number of reputable vendors competing for your business, how do you really know that you're getting the best value? As margins tighten and consumers watch their spending, it's a question that chains must answer.
Buyer confidence that they're getting the best possible price on goods and services is alarmingly high for companies that lack e-sourcing experience. Why? Before adopting e-sourcing, they simply have never experienced the dramatic savings opportunities ready for the taking in nearly every category - even from incumbent suppliers.
Despite market data that shows they're saving big money over their peers and receiving exceptional value, e-sourcing users are still somewhat skeptics - always believing that there's a better offer on the table. Meanwhile, those who aren't using e-sourcing are content with the value they're getting from suppliers - which results in major money left on the table. This mindset, unfortunately, poisons many retailers, and hurts overall performance.
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