Since this is the week of retail e-Sourcing best practices on ESF (thanks Agatha!), I thought it would be good to post a recent summary from Aberdeen about retailers:
First-Rate Retailers With Active e-Sourcing Programs Source 20% of Their Total Spend
According to The Advanced Sourcing and Negotiation Benchmark Report: The Art and Science of the Deal:
- Best in Class retailers with active e-sourcing programs source 20% of total spend.
- Best in Class firms are 32% more likely to employ advanced sourcing strategies and proclaim a 54% edge.
- Best in Class performers recognize that leakages affects 21% of savings.
This e-sourcing study builds upon earlier research efforts by examining the opportunities, challenges, and results of the sourcing programs of over 160 enterprises. Several case studies provide examples of the different sourcing strategies that enterprises employ today to extend the value of their programs.
Some of our best clients are in retail and they get staggering results from e-Sourcing with massive efficiency increases. I personally feel the retail industry is one of the best suited for our technology with seemingly never-ending possibilities for savings and value.