Negotiations and contracting: Automated tools can speed workflows, simplify the digital signature process, and create an electronic repository of contracts where organizations can set renewal alerts.Supplier discovery and RFx: Sourcing becomes a strategic advantage when organizations can access supplier data through a digital business network, allowing them to request RFPs and have suppliers compete for their business.Data collection and spend analysis: Spend analysis concentrates supplier data into one source, letting organizations know exactly what’s being spent where and presenting the opportunity to streamline vendors.The process can be broken down into four steps: Strategic sourcing best practices include digitizing documents, participating i n a digital business network, and automating workflows. Strategic sourcing can be customized to meet a customer’s specific needs, but its main goal is to leverage a single, integrated system to enhance profitability. It stops short of the actual purchase of and payment for goods and services. The other sites in Belgium and other countries, will be activated in the course of 20.Strategic sourcing is a procurement process that connects data collection, spend analysis, market research, negotiation, and contracting. Downstream: The modules supporting the procure-to-pay process will be enabled for Umicore’s site in Olen by mid of February 2023.Other countries will be activated in the course of 20. Upstream: The SAP Ariba modules supporting the source-to-contract process is implemented since mid of February 2022 for suppliers collaborating with sites located in Belgium.
The following provides a more detailed overview: We are gradually moving with our suppliers to SAP Ariba. Suppliers will be invited to connect with Umicore through the SAP Ariba platform. This improves compliance and makes it possible to do business anytime, anywhere and on any device. Through SAP Ariba, suppliers and buyers are able to connect and do business with each other on an online platform.
Umicore will use SAP Ariba to manage sourcing, contracting, ordering and invoicing. Umicore has implemented the SAP Ariba platform to digitalize its source-to-contract and procure-to-invoice processed and enable a best-in-class procurement organization.
Digitalization of Indirect Procurement process
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