Now that the collection is defined, sourcing teams need to choose the supplier based on pricing and performance. The complexity of this process is simplified by connecting all of the parties and consolidating the product, supplier and costing information into a single solution. At this point in the process, sourcing teams need to determine estimated costing for each style.
Unifying this information with an established process, the Source module provides an online costing tool that will enable better buying decisions that have a bottom line effect on margins, time to market and product quality.
The Source module provides functionality to:
- • Collaborate on electronic Requests for Quotes (RFQ) with suppliers, vendors and agents
- • Use pre-built or configurable templates to define cost elements
- • Maintain component level cost data and calculate estimated landed costs
- • Allow suppliers the flexibility to suggest additional costing scenarios
- • Use a comparison matrix to visually evaluate quotes from multiple suppliers at one time
- • Track RFQ changes and negotiations
- • Manage sample requests, shipments and approvals at SKU level
- • Ability to commit a confirmed cost sheet to enable the creation of a PO
With all of this complete, the adopted plan can move ahead to the next step in the process using the
Order module.
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