Dragon Sourcing provides comprehensive procurement services using our global supplier chain as well as local resources. Procurement and supply management involves purchasing the goods and services that enable an enterprise to operate.
There are certain common factors that more or less influence all purchasing decisions, such as marginal benefit, delivery & handling and price fluctuations. In general, the procurement of goods comprises of making the buying decisions, under the provision of insufficiency. If good data is available, making use of the economic analysis methods like, cost-benefit analysis or cost-utility analysis is regarded as a potent strategy. A distinction between with and without risk analysis is vital to the effectiveness of the procurement strategy. In case there are risks involved, either in the costs or in the benefits, the ideal solution will be to employ the idea of best value.
The function of procurement is generally put into two distinct categories, indirect and direct spend. Direct spend refers to all production-related sourcing and it covers items, such as raw materials, parts & components, and such other things that form a part of the finished products. On the other hand, indirect spend involves all non-production-related procurement.
Direct procurement, as the main focus in supply chain management directly impacts the production procedure of manufacturing enterprises. On the other hand, indirect procurement solutions emphasize “operating resources” that an organization buys to enable its operations. Indirect procurement consists of a wide range of various goods and services, starting from standardized items to complex and expensive products and services.
The driving force of a sourcing firm
The companies that are able to attain huge success in the long-run are found to significantly invest time and capital in strengthening their ‘human resources’. Successful organizations understand the importance of ‘people’ when it comes to determining the overall performance of the firm.
One of the key prerequisites for nurturing the people capacity is effective talent management. In order to achieve the desired objectives, it is mandatory for your procurement function to have the necessary talent. If your enterprise is staffed with procurement professionals whose aim is to only get goods and services at the cheapest possible prices, you cannot possibly hope to find success. What your organization needs for success is staff exhibiting an optimistic behavior, smart performance and complete dedication towards procuring world-class quality products and services at the best prices.
Seasoned business heavyweights have time and again stressed the great value of honing the human resource of a company. People-related factors, such as talent, leadership and constructive culture, have to be harmoniously applied for achieving optimal results. When applied in isolation, it rarely delivers the desired outcome. For the benefit of a company, it is mandatory to create favorable conditions that aid in unleashing the human spirit and push the people to do more. This is particularly beneficial in functional areas, such as procurement.
Dragon Sourcing has a dedicated team of deft procurement and contract professionals. Our procurement solution specialists work in tandem, with diverse business lines of Dragon Sourcing around the globe to boost project profitability for the clients.
The team’s abilities include:
- Traffic and Logistics Support
- Facilities Procurement
- Material Control and Planning
- Shop and Office Expediting
- Supplier Capacity Assessments
- Supplier Performance Evaluation
Dragon Sourcing’s supplier base and network of contractors has a regional basis, so that we are able to satisfy capital project sourcing requirements, for both local and global projects. We can provide definitive, safe and cost-effective solutions for products and services.
Our experienced regional and global supply chain organization experts help us leverage our intellectual supply chain knowledge, global supplier network, procurement experts, market awareness and spend analytics to build and identify innovative material and contract management strategies.
Our way of improving procurement performance:
Procurement solutions play an indispensable role in determining the functions of most companies, due to the all-important influence they have on the entire cost of the business. At present, a majority of expert procurement specialists concur that reduction of cost is their foremost priority. Nonetheless, 62% market professionals have expressed their displeasure, in regard to the application of their individualized procurement techniques. Therefore, it is safe to deduce that there is still scope for improvement.
Some of the ways that we follow to help enhance procurement performance are discussed below.
Developing effective risk management strategies: Between the huge range of digital disruptions, including system failures and security infringements, and countless unexpected events that can intervene business processes, like natural disasters, there is a huge amount of threats procurement leaders must prepare for. Unfortunately, many are unable to do so.
To ensure the continuity of business, it is essential to know in advance the plans and procedures that are present in a state of emergency, along with an idea of the parties responsible for respective tasks. Dragon Sourcing assures that the members involved in crafting procurement solutions are all familiar, with the policies of risk management. We believe that the quick response schemes for incidents are only as powerful as their implementation.
Making supplier relationships a priority: Our procurement professionals maintain long lasting bonding with the business’s suppliers, which includes establishing clear lines of communication and building trust. It is mandatory to ensure that both parties are on the same page and have specific plans of action and goals laid out. Furthermore, we regularly verify supplier contracts to ensure their performance and compliance, with procurement departments. We also seek out ways to improve relationships, with vendors. Simply asking what we could be doing better or how we might help them better serve their clients, can go a long way.
Investing in the appropriate supply chain talent: Our procurement managers elevate supply chain efficiency, drive performance and optimize workflow by ensuring the right tools and skills are being utilized. This is not just for employees, but for the systems and technologies that are invested in, as well.
Evaluating primary performance indicators: To be able to gain an in-depth insight into the operations of the procurement process and understanding the areas that require improvement, it is necessary that its performance and success is evaluated against the valid metrics. Since these indicators can change with time, the assessment should be conducted on a regular basis.
Taking advantage of outsourcing opportunities: The value and productivity of the internal staff can be enhanced by making use of the supply chain and outsourcing procurement operations to third parties. This can help to get the tasks completed more quickly and more efficiently. To enjoy a long-term ROI, Dragon Sourcing enlists the help of a consultant. This is because the professional offers knowledgeable and impartial viewpoint on the changes that need to be made for upgrading the bottom line.
Procurement Support Solutions
Internal customers’ increased demand is an extremely tangible indicator of the growing importance of procurement activities to the organization. On the contrary, if this increased demand is not resourced sufficiently, it may overwhelm already weak internal teams, ultimately fading away their overall impact.
Support services from Dragon Sourcing are designed to help in keeping organizational procurement teams firing on all cylinders, letting your group meet its targets, extend its reach and keep pace with increased expectations.
That’s why our expert procurement teams are asked to support organizations with a wide range of procurement solutions.
Seamless support on demand
A number of enterprise procurement teams use our first class analytics, research and execution capacities to backup their category managers. Thus, we help them focus on collaborating with business stakeholders, negotiating better deals, and managing key supplier relationships.
Procurement life cycle
Most of the enterprises think of their procurement process from the standpoint of a life cycle. Different consulting firms and their experts have built various frameworks.
The common steps of our frameworks include:
- Requirements Analysis
- Identification of External Macro-Level Market
- Cost Assessment
- Supplier Communication
- Supplier Identification
- Contracting or Negotiations
- Performance or Logistics Management
- Liaison or Supplier Management
Why Dragon Sourcing
Our sourcing and procurement software helps streamline your organization’s procurement procedures, driving control and compliance, while reducing risks and costs. The software provides an efficient and pleasurable shopping experience for your business customers, with automatic flows of approval and integration with the largest business network of the world.
Our sourcing and procurement services can transform your business through:
- Improved collaboration with suppliers
- Excellent procurement processes and sourcing
- Better operations with high compliance and improved spend insights
Dragon Sourcing connects processes for a myriad of industry value chains by combining horizontal lines of business with industry-specific solutions in the cloud, on premise, and through mobile devices.
Each of our support engagements is configured to the definite needs of a particular team of each organization we work with. However, by way of example, many current support engagements involve sourcing execution support, spend analysis, RFx and auction services, contracting support, on-demand market intelligence, supplier performance management and ongoing savings reporting and tracking.
By working with our highly skilled support teams, enterprise procurement teams also get access to our unrivaled category expertise, gain scores of projects, along with a knowledge-base of global sourcing strategic, supplier network of a large number of suppliers, benchmarking information, analytical tools and templates.
All this is augmented by our world-class, cloud-based integrated procurement platform. So, it’s time to maximize savings with our sourcing and procurement solutions.
As per the latest market research, shifting your focus to procurement savings from revenue growth can make it happen. Here is where the advantages of using our procurement software and sourcing best-practices come in. From spend analysis to e-procurement, our solutions cover everything that can assist you in delivering repeatable cost savings while improving compliance and quality. We can help you quintuple your profits.
Our support services are custom configured for all engagements. Contact us to find out more!