NEWS RELEASE
Contact: Matt Miller
Phone : 262-285-3334
Matt.miller@k2sourcing.com
Wisconsin-based software Company Named as one of the nation?s top supply chain solution providers
K2 Sourcing Adds Innovation to Strategic Sourcing and the Negotiation Process; Highly Automated Solution Increases Customer Productivity, Profitability
K2 Sourcing, supplier of contract management, eQuote, Reverse Auction, and Request for Proposal (RFP) software solutions, was named as one of the nation's top 100 companies to lead the supply chain into the 21st Century delivering cutting edge technology to customers and turning the supply chain into a competitive advantage.
According to Matt Miller, president of K2 Sourcing, the complexity of global supply networks, an outsourcing of "non-core" competencies, and the volatility of raw material prices -- coupled with the added pressure of reducing overall costs has placed a strain on even the best supply chain teams. K2 Sourcing delivers software solutions that help constrained organizations meet rigorous market demands.
"Up to 60 percent of a company's expenditures are purchased goods and services. That's a tremendous investment and a huge responsibility for the purchasing department," said Miller. "Traditional paper-based negotiation and communication methods are slow, leave millions of dollars on the table and create a bottleneck when launching new products. Our solutions are designed to deliver fast, accurate results that can be easily implemented to save our customers money and get products to market faster."
Innovative Solutions
K2 Sourcing replaces paper-based systems with web-based solutions that organize, simplify and promote buyer efficiency.
The e-quote software and project center improves communication and allows collaboration with suppliers to bring new products to market faster and at a more competitive price.
The sealed bid and reverse auction software developed by K2 Sourcing streamlines the bidding and negotiation process, allowing companies to generate greater savings than traditional negotiation methods.
These real-time analysis tools are completely automated and have the ability to factor in supplier characteristics such as freight, duty, payment terms and value added services. The end result is the most complete total value proposition and an ideal match between buyer and supplier. Buyers can reach a decision in half the time, and generate the highest total cost savings possible.
While the eQuote and bidding software streamlines the negotiation process, K2 Sourcing's eRFP Builder replaces paper-based request for information and supplier contract methods with web-based solutions that organize, simplify and promote buyer efficiency. The purchasing department is able to concentrate on other areas by using eRFP Builder to:
l Rapidly reach agreements with suppliers
l Easily capture and organize tremendous amounts of information about suppliers capabilities
l Eliminate repetitive time consuming paper based tasks
l Save time by standardizing forms using templates and editing past RFPs
l Maintain a searchable database of agreements and retain knowledge capital
l Combine cash flow and cost factors to build true total cost models
While Miller acknowledges his company's tools are critical components of generating results, he maintains the strategic counsel and customer support K2 Sourcing delivers is the true differentiator. The company's software solutions were developed based on real-world experiences and needs of purchasing professionals.
"Our years of experience of working within the supply chain (and in purchasing) enable us to deliver solutions that are highly functional for our intended audience and deliver the desired results," says Miller. "Not every solution provider can make that claim. That's our competitive advantage. Our solutions standardize and streamline internal processes. This leads to improved productivity, faster new product launches, and increased company profitability for our clients turning the supply chain into their competitive advantage."
Supply & Demand Chain Executive is a leading trade publication written for executives and supply chain professionals to keep them up to date on the latest advances in supply chain technology. The June/July 2007 issue includes "Supply & Demand Chain Executive 100" identifies the best practices and processes that companies are using to take their supply chain into the 21st Century. Visit the publication at www.sdcexec.com.