Strategic Sourcing

Strategic sourcing is a procurement process that connects data collection, spend analysis, market research, negotiation, and contracting. It stops short of the actual purchase of and payment for goods and services. Glenmex is specialised in sourcing of bulk commodities globally since 2004.

Glenmex customised strategic sourcing to meet a customer’s specific needs, but its main goal is to leverage a single, integrated system to enhance profitability. Glenmex strategic sourcing best practices include: market research, industry analysis, digitizing documents, participating in business networks, and automating workflows.

Our source process consist of professional tasks of

Data collection and spend analysis:

Spend analysis concentrates supplier data into one source, letting organizations know exactly what’s being spent where and presenting the opportunity to streamline vendors.

Supplier discovery and RFx:

Glenmex RFx system used in the procurement landscape and it captures all references to Request for Proposal (RFP), Request for Information (RFI), Request for Quote (RFQ), and Request for Bid (RFB).

Negotiations and contracting:

Glenmex actively take part in contract negotiations which is the process of coming to an agreement on a set of legally binding terms between two companies. We assist buyers and sellers to negotiate, to obtain favorable terms and minimize financial, legal and operational risk.

Implementation and optimization:

Glenmex sourcing is automated and digitized, where organizations can move faster, build in feedback loops for continual optimization, and constantly evaluate suppliers to make sure they’re getting the best sourcing agreements possible.

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