Strategic sourcing solution is an essential tool for any business that wants to stay competitive. By streamlining the procurement process and leveraging data, strategic sourcing solutions can help businesses save time and money.
- Manufacturers face on-going challenges in selecting the optimal source of supply for the many materials, products and services they procure. It’s often difficult to accurately account for costs beyond the purchase price of goods, like tooling, transportation, lead times, duties, taxes, fees and other factors. Manufacturers place production schedules and quality at risk when selecting suppliers without a full evaluation or established performance record.
- Speed is a concern because businesses want to respond to changing market demands as quickly as possible. As an essential part of the global economy and a key driver of job growth, businesses must find the best ways to stay competitive and increase efficiency thus overlooking certain costs.
Taking a collaborative and organized approach with Paragon strategic sourcing solutions better aligns procurement strategies with supplier activities and yields long-term cost savings along with additional business benefits.
We are increasingly seeking innovative ways to maximize sourcing efforts and address supply disruption at many levels. Integrated supplier management is our key approach for sourcing to better connect manufacturers with suppliers. The result is a foundation for direct material and strategic indirect cost reductions, efficiency improvements, risk mitigation and improved go-to-market times and much more:
- Reduce direct and indirect costs
- Boost long-term supplier relationships
- Gain efficiency and a systematic approach
- Mitigate supplier risk
Strategic procurement helps with this and more! We are known for accomplishing amazing feats for partners by completing solutions. Whether software, hardware, or in a category uniquely positioned to enhance others’ products, we have the experience to get you to the destination you seek! We have a list of Subject Matter Experts, with significant real-world experience in the vertical for which they provide expertise.
Our powerful procurement and spend analytics allows you to monitor spend patterns across regions, categories, suppliers, etc. while our reports allows procurement teams to identify spend leakages and savings opportunities, and thus reduce procurement costs and maximize savings.
Making the right supplier selection plays a key role in creating synergy between manufacturers and suppliers – and this is where strategic sourcing solution by Paragon has a role.