Oracle Modern Best Practice—Smart Sourcing

Modern Best Practice for Insight to Smart Sourcing
Strategic, Streamlined Sourcing

Insight to Smart Sourcing

The mobile, social, and analytic capabilities built into modern best practices for procurement simplify contract creation. Streamline sourcing with easy-to-use tools. Deliver specifications and awards analysis documents on social media and mobile devices to make better decisions anytime, anywhere. Share information and collaborate with cross-functional teams. Use the following best practice as your roadmap to a more strategic, efficient, and data-driven procurement process.

Optimize Sourcing Processes

  • Consolidated view of sourcing activities for buyers and suppliers
  • Spreadsheet support for supplier responses and award analysis
  • Award analysis
  • Negotiation planning with sourcing calendar, recent activities, and recommended actions
  • Guided negotiation creation with reusable negotiation styles and templates
  • Online supplier negotiations

Identify Opportunities
Mobile. Analytics. Social. icon Mobile. Analytics. Social.

Identify Opportunities

Focus on high impact opportunities by analyzing spending patterns and supplier performance.


Initiate Sourcing Event
Social. Mobile. Analytics icon Social. Mobile. Analytics.

Initiate Sourcing Event

Create policy-compliant online negotiation through step-by-step guidance and templates.


Develop Specifications
Mobile. Social. icon Mobile. Social.

Develop Specifications

Align specifications with business needs by collaborating with experts and stakeholders.


Manage Negotiations
Mobile. Social. icon Mobile. Social.

Manage Negotiations

Publish RFx and begin participation. Suppliers submit responses via online tools and collaboration.


Monitor Response
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Monitor Response

Review and compare submissions. Extend / pause event based on responses.


Analyze and Award Negotiations
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Analyze and Award Negotiations

Award business based on detailed bid analysis and collaborative review.


Finalize Contract
Mobile. Social. icon Mobile. Social.

Finalize Contract

Streamline contract creation by applying terms & conditions from negotiation event and exception-based approvals.


Ensure Utilization
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Ensure Utilization

Realize contract savings by applying pricing and terms to covered purchases automatically.