Procurement is based on Data Part III
Today I offer the final excerpt from my White Paper Titled Re-Imagining Procurement where we summarize how to use the Three Data Pillars. Pillar One: Your Data, Pillar Two: and Pillar Three: Their Data. You can review them again here in yesterday’s Part II.
If you agree that the Pillars above represents Data that is required to successfully source products and services for your company, this author will guarantee the following. Your data will not include everything you or your procurement professionals need to make the best possible decisions for your business within the timeframe it needs to be made and all the sophisticated systems in the world will not solve this problem for most companies. The data will not be readily at hand; and your team will not know all the correct questions to ask to collect the data in a timely manner because they may only source this category once every couple of years at best, while solutions providers like SafeSourcing may source it dozens of times every year.
I offer the following as a solution.
SafeSourcing is a data rich company built to support procurement professionals. Included on our website are several million words in the form of white papers, a sourcing wiki, a specifications library, a daily blog focused on procurement and a supplier database including a query tool that allows you to search global sources of supply. There are many more tools and data sets that are here to make your life easier.