1

Introduction to E-Sourcing

Description

What is it and Why Does it Matter? - Description: Begin by understanding the core concept of e-sourcing. Learn what it is, how it differs from traditional sourcing, and why businesses use it. Explore the benefits (cost savings, efficiency, transparency, supplier diversity, etc.) and the types of items/services typically sourced electronically. - Resources/Activities: - Read a basic article or blog post on e-sourcing fundamentals. Search for terms like "what is e-sourcing?" "benefits of e-sourcing," or "e-sourcing basics." Examples: Procurement Foundry, Spend Matters, or articles on platforms like LinkedIn. - Watch a short introductory video explaining e-sourcing. - Identify different industries that frequently use e-sourcing. - Expected Outcome: You'll understand the basic definition of e-sourcing, its advantages, and its overall purpose in business operations. You'll be familiar with the language and core concepts.

Available

Learning Objectives

  • Understand the fundamentals
  • Apply practical knowledge
  • Complete hands-on exercises
2

E-Sourcing Processes & Stages

  • Description: Dive into the different stages of the e-sourcing process. Learn about the typical steps involved, from identifying needs and market research to supplier selection and contract management. - Resources/Activities: - Read a guide to the e-sourcing process stages (e.g., spend analysis, market research, RFI/RFP/RFQ, supplier selection, contract negotiation, and implementation). Search for terms like "e-sourcing process steps" or "e-sourcing lifecycle." - Review diagrams or flowcharts that illustrate the e-sourcing process. - Practice identifying the key steps in a fictional e-sourcing scenario (e.g., sourcing office supplies). - Expected Outcome: You'll gain a fundamental understanding of the stages involved in a typical e-sourcing initiative, and recognize the sequence of tasks.
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Learning Objectives

  • Understand the fundamentals
  • Apply practical knowledge
  • Complete hands-on exercises
3

Exploring E-Sourcing Tools & Platforms

  • Description: Explore the different types of e-sourcing tools and platforms. Learn about common functionalities like e-RFx (Request for X - Information, Quotation, Proposal), e-auctions (reverse auctions), supplier relationship management (SRM), and contract management. - Resources/Activities: - Research various e-sourcing software providers (e.g., SAP Ariba, Coupa, Jaggaer, Ivalua, GEP SMART). - Read reviews of these platforms and understand the core features they offer. - Visit the websites of several e-sourcing providers and browse their introductory materials or demo videos. - Identify which tools suit which types of sourcing projects. - Expected Outcome: You'll be familiar with popular e-sourcing platforms and their primary functions. You'll understand how these tools streamline the sourcing process.
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Learning Objectives

  • Understand the fundamentals
  • Apply practical knowledge
  • Complete hands-on exercises
4

Understanding RFx Documents (RFI, RFP, RFQ)

  • Description: Learn the purpose and differences between the Request for Information (RFI), Request for Proposal (RFP), and Request for Quotation (RFQ). Understand the key elements of each document and when to use them. - Resources/Activities: - Study examples of RFI, RFP, and RFQ templates. Search for "RFI template," "RFP template," or "RFQ template" online. - Read articles or blog posts explaining the purpose of each type of document. - Practice identifying the best RFx type for a specific sourcing scenario. - Expected Outcome: You'll be able to differentiate between RFI, RFP, and RFQ documents and understand their role in the e-sourcing process.
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Learning Objectives

  • Understand the fundamentals
  • Apply practical knowledge
  • Complete hands-on exercises
5

Introduction to E-Auctions & Reverse Auctions

  • Description: Focus on e-auctions, particularly reverse auctions, a key tool in e-sourcing. Learn the basic principles of reverse auctions and how they work. Understand the advantages and disadvantages. - Resources/Activities: - Read articles explaining how reverse auctions work. Search terms such as "reverse auction explained." - Review examples of reverse auction scenarios and outcomes. - Watch a short video that demonstrates how a reverse auction operates. - Expected Outcome: You'll grasp the fundamental concepts of e-auctions and reverse auctions and their use in securing competitive pricing.
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Learning Objectives

  • Understand the fundamentals
  • Apply practical knowledge
  • Complete hands-on exercises
6

Supplier Selection & Evaluation in E-Sourcing

  • Description: Learn about the criteria used to evaluate suppliers in an e-sourcing environment. This includes factors such as price, quality, delivery, and supplier capabilities. Learn different methods of scoring and ranking suppliers. - Resources/Activities: - Read about supplier selection methodologies (e.g., total cost of ownership, weighted scoring models). - Explore examples of supplier evaluation matrices. Search for "supplier evaluation template." - Practice evaluating potential suppliers based on given criteria and using a simple scoring system. - Expected Outcome: You'll be familiar with the key elements of supplier selection and understand how to assess potential suppliers in e-sourcing initiatives.
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Learning Objectives

  • Understand the fundamentals
  • Apply practical knowledge
  • Complete hands-on exercises
7

E-Sourcing Best Practices & the Future

  • Description: Wrap up with a review of best practices in e-sourcing. This includes supplier management, contract management, and data analysis. Also, consider the future trends in e-sourcing. - Resources/Activities: - Research and read articles on e-sourcing best practices. - Identify current trends in the e-sourcing landscape, such as the use of AI, sustainability in procurement, and more. - Consider how to apply the learnings of the week to your own company or business ideas (if applicable). - Expected Outcome: You'll have a broad understanding of e-sourcing, its principles, processes, tools, and the considerations for effective implementation. You'll understand the future of the field.
Locked

Learning Objectives

  • Understand the fundamentals
  • Apply practical knowledge
  • Complete hands-on exercises

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