Today's fast-paced, competitive global economic environment has exacerbated the importance of global product sourcing. Companies are re-assessing the way they source, and sourcing is becoming a true strategic function. Sourcing is driving corporate strategies from cost reduction to value-creation, from green initiatives to risk mitigation. Best-in-class sourcing and intelligent supply chains are increasingly driving competitive advantage.
Despite significant improvements in infrastructure and strong development in manufacturing, practical challenges still remain:
- Identifying good suppliers in order to build a robust, responsive network
- Ensuring consistent quality levels and ethical standards
- Managing warehousing and inventories
- Addressing rising costs of production
How HCL can help?
Sourcing and procurement cost takeout is very easy to understand at the strategic level, but very difficult to implement in a large global institution, with a fair degree of autonomy in the business. HCL has demonstrated expertise in delivering effective Sourcing solutions to global conglomerates and G500 companies that have yielded significant business benefits including cost reduction upto 50%, cycle time reductions from weeks to days among others. Our solutions include:
- Benchmarking against the marketplace
- Supplier Relationship Management
- Spend Management
- Product Cost Engineering
- Supplier Cost Engineering
- RFX Management
- Contracting and Negotiation Solutions
- Procurement process improvement including e-Sourcing and Procure-to-Pay solutions.
- Benchmarking based approach that measures efficacy of inter & intra industry standards
- Improved supply chain flexibility / Responsiveness
- Reduced cost of direct spend by 5-15% and indirect spends by 1-5%
- Increase in contract compliance by x%
- Increase in productivity of purchasing organization