Procurement Services

Our sourcing experts have conducted more than 450 Sourcing Events in over 150 categories, which have resulted in an average savings of 10% in costs and up to a few weeks of cycle time reduction. We have a supplier database that is both domestic and international.

Sourcing Events

Procurement and procurement costs have been ever increasing for enterprises, making the process more cumbersome. There is a demanding need to evolve the right strategies in every transaction decision. In the traditional mode of procurement, the cost of procuring a product is higher than the cost of making the product.

01markets' Sourcing Events aligns the procurement activities in order to focus more on purchases that can support the strategic intent of the organization based on advantages in cost leadership, reduced lead times or improved quality.

We conduct world-class Sourcing events and also provide you with the education, information, and support to enable the services you need and also accelerate the adoption of Sourcing Events across your organization.

Our Sourcing Events are equipped with tools and supported by Internet and Internet technologies that can, not only reduce procurement costs, but also compress cycle times, improve quality and productivity, strengthen supplier relationships through improved collaboration and in general, tighten the supply chain.

Our process is rigorous and ensures capture of all technical and commercial aspects of your purchase. This helps us to get all suppliers and buyers on the same wavelength.

Our Proposition

We offer the most disciplined systematic process of buying goods and services continuously at lowest total costs.

Our sourcing strategies result in

• Best price evaluation
  
• Volume concentration
  
• Global sourcing
  
• Product specification improvement
  
• Joint process improvement
  
• Relationship restructuring
  
• Cost benefits from reduced input and transactional costs
  
• Better service through optimized models
  
• Best practices
  
• Competitive advantage (lower cost)

We identify suppliers, contact them, familiarize them with the Request for Proposal (RFP) and train them on bidding and rules of the events. Our procurement experts along with the buyer decide on the events parameters such as opening price, reserve price, structuring of lots and rules of the event. Throughout the real time event, we monitor the activity and ensure that we are constantly in touch with the suppliers to enable them to bid and respond to clarifications. In short, we do all that is required to make the event a success.

Our proposition as a procurement service provider will include our services that will span across Sourcing Events, procure-to-pay outsourcing and sourcing from India.

We follow an elaborate process and offer competitive advantage with the best practices of cost efficiency and a tight supply chain:

Key benefits

In a nutshell, Sourcing Events with 01markets simplifies the sourcing process, provides a web-based request-for-proposal platform, speeds up the negotiation and awarding process and is useful for both procurement and disposal of idle assets excess inventory.

Partnering with 01markets in Sourcing Events, you as buyer or supplier can reap the following benefits:

Benefits to Buyer

• Average reduction in purchasing costs
  
• Reduction in purchase cycle time
  
• Reduction in internal process costs
  
• Low expenditure on sales
  
• True market price
  
• Comparative price list from a spectrum of suppliers
  
• Reduced equipment cost through aggregated volumes
  
• Reduced leakage through maverick buying
  
• Ensure contract compliance

Benefits to Supplier

• Suppliers get access to new customers and vice versa
  
• Acquiring customers at low marketing cost
  
• Reduction in purchase cycle time
  
• Ensure contract compliance