NEXT GENERATION
ANALYTICAL SOURCING
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Platform for complex recurring purchases
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Baseline driven architecture with single-click analytics
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Competitive cost models enable relationship pricing
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Solves the unpriced tail problem
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Category content built into the platform
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Massive productivity boost for sourcing professionals
TECHNOLOGY
Our patent pending technology enables cost model driven sourcing that eliminates the unpriced tail problem resulting from the traditional 80/20 catalog approach. Our data structures are driven off of actual baselines connected to cost model bids via category specific cost model algorithms, enabling instant savings analysis on the entire baseline as well as any future specifications.
Our Technology generates
2x savings vs Conventional Solutions
Product
The existing eRFP sourcing platforms can only handle catalog type, episodic purchases and generally cannot tell you how much you've saved because there is no connection to a baseline. MyRFP app is designed for recurring purchases of arbitrary complexity and comes with easy-to-modify templates that cover the entire taxonomy of pricing approaches.
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Users start by defining and assembling a baseline with transactions containing specifications, quantities and prices that represent the current purchasing performance well. This may be actual historical data or projections.
The user next chooses a number of high volume items that he would like to bid out specifically, i.e. as price per item.
Next, the user selects the specification variables from the baseline that are relevant to the cost model, i.e. that matter for price. The variables are displayed in a familiar spreadsheet interface that is then used to build the cost model using standard spreadsheet formulas and commands. In most cases, there will be a template the user may choose to modify, rather than building cost models from scratch.
The system creates the RFP based on the cost-relevant variables and bidders bid on both specific high volume items and the cost model parameters.
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As soon as bidders click submit, extensive analysis is performed, providing sophisticated charts and tables and scenario analysis that inform and support strategic sourcing decision making.
The analysis module is based on the Mitchell Madison Group's decades of client work and is fully customizable and extensible.
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Armed with MyRFP app, sourcing professionals can now run highly complex events that typically would be consultant-supported at a much lower cost and much faster