Procurement Power

Procurement Power is a procurement solution developed by Serex Procurement Solutions (SPS) that aims to simplify and optimize the bidding process for buyers and suppliers. According to the vendor, this platform creates an environment where suppliers can bid against each other and see their relative bid positioning, with the goal of leveling the playing field. Procurement Power is intended for small, medium, and large-sized companies across various industries, including procurement professionals, supply chain managers, purchasing managers, manufacturing companies, and retail companies.

Key Features

Bidding Process Simplified: Procurement Power Bidding is designed to create a quick and easy environment where suppliers can bid against each other. According to the vendor, suppliers can see their relative bid positioning, which is intended to promote fair competition.

Procurement Power Bidding: This solution allows suppliers to bid against each other, encouraging competition among them. The vendor claims that it streamlines the purchasing process by reducing the need for back-and-forth communication regarding price, delivery, and specifications.

Cost Savings: According to the vendor, Procurement Power Bidding can help achieve average cost savings of 8% on direct and indirect purchases. The solution aims to reduce costs associated with communication between buyers and suppliers, as well as simplify the buying process to minimize the need for negotiations.

Best Prices, Quick Results: Procurement Power Bidding aims to facilitate the quick acquisition of the best prices. The solution is designed to create an environment where suppliers aggressively price their offerings, fostering competition. The system also allows for the cloning of past auctions, making repurchasing easier.

Transparent and Efficient: Procurement Power Bidding is said to encourage transparency and facilitate "just in time" purchasing. The vendor claims that it allows buyers to spend more time researching new sourcing strategies and product sources.

Streamlined Communication: According to the vendor, Procurement Power Bidding reduces the need for unnecessary back-and-forth communications. All purchase details, including pictures, logistics, shipping, delivery details, and financing, can be posted and downloaded by suppliers, aiming to streamline the communication process.

Level Playing Field: Procurement Power Bidding aims to create an environment that levels the playing field for suppliers. According to the vendor, it allows suppliers to see their relative bid positioning, ensuring fairness and equal opportunities.

Easy Setup and Use: Procurement Power Bidding is designed to be quick and easy to set up and use. Buyers can post items for purchase on a private and encrypted request for price purchasing web page. Suppliers enter an encrypted price for the requested items, and the buyer decides which supplier will be awarded the purchase order.

Suitable for All Company Sizes: Procurement Power is positioned as suitable for small, medium, and large-sized companies. It caters to the procurement needs of various industries, including procurement professionals, supply chain managers, purchasing managers, manufacturing companies, and retail companies.

Optimized Purchasing Process: Procurement Power Bidding aims to optimize the purchasing process by eliminating inefficiencies and reducing manual tasks. According to the vendor, it allows buyers to focus on strategic sourcing and supplier relationship management.