Strategic Sourcing
SmithStreet’s Sourcing practice is designed to support your on-shore client teams throughout the life-cycle of your Strategic Sourcing engagements.
Pre-RFP
Project Research
- Desktop research (industries, categories, product-level, regulatory, etc.)
- Supplier research and initial vendor lists
Spend Analysis
- Data cleansing and organization (A/P, invoice, PO, etc.)
- Baselining (data analysis, spend categorization, data source triangulation, etc.)
- Pricing analysis & savings estimation (contract review, invoice sampling, benchmarking, etc.)
RFP
RFP Creation
- Bid materials preparation (RFP/RFQ main body, pricing grids, qualitative questions, other appendices, etc.)
- Vendor list finalization (incumbents, alternative suppliers, appropriate contact person/contact details, etc.)
RFP Process
- RFP/RFQ distribution and process management (vendor inquiries, intent to bid, tracking sheet, timeline management, etc.)
- Bid analysis (savings model, synthetic savings, scenario analysis, sensitivity analysis, clarification of vendor submissions, ongoing support through negotiations, etc.)
Post-RFP
- Monitoring & Tracking (contract compliance, invoice review, savings tracking, metrics tracking/dashboard, supplier performance management, monthly reporting, etc.)
China Sourcing Support
- Translation (bid materials, contracts, etc.)
- Interpretation (SME interviews, vendor negotiations, etc.)
- On-site staffing (client locations in China and Asia-Pacific)