Global Sourcing

Finding the best supplier that meets your goals on price, lead time, quality, and capacity is a challenge enough in itself. Compounding this challenge is the need to do global sourcing with multiple suppliers from different countries around the world. Further complexity is added when private label brands are in growth mode and the central sourcing operation needs to increase scale to support growth in volume.

Typically buyers and merchants use a variety of spreadsheets to manage the sourcing process. There are often variations in the spreadsheets for different categories, not to mention different versions. Confusion, delays and errors frequently occur through this manual sourcing approach. Different time zones and communication barriers also add complications to the sourcing function.

CBX Sourcing solves this problem by automating collaboration through a web based tool accessible between retailers, suppliers and factories. The system sends out quotation requests and suppliers respond by submitting a quotation and product specifications directly in the web tool. Data received runs through CBX’s powerful costing engine to predict and model all freight, insurance, duties and commission costs to determine if the vendor meets the buyer’s target price. The result is a clear standardized tool which creates a global platform for more effective communication and collaboration between global sourcing teams and suppliers, with minimal duplication of effort.

CBX Sourcing Key Functions and Features:

• Create clear and standardized Requests for Quotations, Information, Samples and Documents
• Enable online vendor quotation submission with multiple cost options
• Simplify and standardize landed cost calculations for freight, insurance, duties, and commissions
• Apply “what-if scenarios” against any cost component to meet buying price targets
• Enable side-by-side bid comparison
• Manage vendor short listings and recommendations
• Generate formal offers to buyers
• Handles multiple incoterms
• Collaborate and provide feedback with various stake holders through the entire sourcing process

CBX Global Sourcing Benefits:

• Streamlining of the entire sourcing process
• Fast and accurate costing
• Removes manual effort of cost management
• Scales operation to handle more volume
• Handles multiple incoterms with ease