For Buyers
Business Benefits: Buyer's Perspective
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Purchase Price Improvement (0.2 - 5.0% of Material Cost)
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Transparency of cost elements
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Supplier Net Price Comparison
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Total Cost of Ownership (Value Pricing) Model
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Spot vs Contract Analysis
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Procurement Optimisation
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Wider Discovery of suppliers potentially creating higher competitive intensity
Reduce potential leakage from contract price execution
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Rebate Entitlement not claimed
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Error in formula price which is disadvantageous to buyer
Process Improvement Cost Reduction
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Automated, integrated (to ERP and Multiple Supplier connectivity) & Secure Process:
Reduce manual handling & hence, manpower cost
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Digitalisation and traceability enables reduction of procurement audit cost
Working Capital Improvement through Collaboration
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LC capital cost reduction through speedy and secure process (blockchain)
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Inventory cost reduction from VMI
Benefits Sources and Realisation of benefits are dependent on sophistication and maturity of processes (i.e. including impact from processes enabled by platform subscription plan)
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Convenience
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Anytime, anywhere on any device
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Real-time & dynamic
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Single platform instead of accessing multiple supplier eCommerce sites
Transparency & Visibility
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Transparency of buying process and price element
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Transparency of price formula, rebate, data used (e.g. exchange rate)
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Order tracking/supply chain visibility
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Real-time visibility, transparency of “market price”
Fair trade
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Trade term rules protecting both buyers and sellers (e.g. min/max price and quantity)
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Value Pricing (fair to supplier and buyer)
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Performance or service level Based pricing enablement
Unified Customer Experience
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Common pricing engine across channels
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Well defined customer offerings and service level
Enhanced Compliance to internal process
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Procurement Approval Process
Improved Service and Customer Experience
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Frictionless Experience (e.g. Product availability, Dynamic Pricing & Negotiation)
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Order promised date from supplier (in case requested date is not available)
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Customer Service (eg Claims and Complains Management)