What is PeopleSoft Strategic Sourcing? What’s it for? In the simplest of terms, it is the process of improving value in your supply chain by determining the best suppliers to award goods or services contracts. It is not about getting the lowest possible cost or beating up suppliers, but rather taking into account all of the important elements of supply chain to determine the best sourcing for your organization. Price certainly is an element but there are other elements to consider such as quality, on time delivery, warranty, etc. We’ll get into that stuff down the road.
PeopleSoft Strategic Sourcing allows organizations to create the supply chain criteria most important to them and leverage the product to procure from the best possible sources resulting in overall improved value. The key value of the product as described by Oracle:
“Oracle’s PeopleSoft Enterprise Strategic Sourcing enables your organization to streamline its RFx processes, conduct real-time auctions, and strategically award contracts or purchase orders. The RFx process consists of formulating requirements, selecting and inviting bidders, receiving bids, scoring and analyzing the results,negotiating terms, and awarding the contract.”
Over the next several weeks, we will dive deeper into the capabilities and functionality of PeopleSoft Strategic Sourcing. We will cover topics such as:
- Event notifications
- Creating events
- Managing events
- Registering and maintaining bidders
- Placing and managing bids
- Analyzing bids and awarding events
We will highlight the features and add the occasional supporting video blog to see the setup of the application as we touch on particular topics. We will be focusing the majority of our time on buying events as depicted from PeopleBooks below:
Like our popular 10-post series on PeopleSoft Real Estate Management, I aim to make this blog series on Strategic Sourcing the most comprehensive information source short of PeopleBooks. I hope you’ll come by every week to check out my latest installment.