Overview

Medius Sourcing is a powerful software solution designed to streamline and enhance the sourcing process for businesses. By leveraging advanced technologies, Medius Sourcing helps organizations evaluate the best suppliers, reduce overall cycle time, and achieve significant cost savings. This software provides total visibility into sourcing events, enabling businesses to manage and influence their spend effectively.

Features

Demand capture

Instead of receiving multiple emails from colleagues or people stopping by to ask you to purchase something for them, Demand Capture is a structured, consistent queue to manage sourcing requests in one central location. Even people who don’t have access to the module can submit requests directly to you.

Project-based sourcing

The Medius platform enables your sourcing teams to run project-based sourcing with multiple rounds and different types of events whether it’s an RFX, auction or quick quote. In the case where single events are being run throughout the year in category waves, the Medius Sourcing solution can capture accurate task, event, timeline, and savings information to manage sourcing activity accurately.

Quick quotes

You can create a quick quote for small, fast sourcing events and invite previously used suppliers or non-registered suppliers to quote for your event. This process still maintains procurement policies even with a quick turnaround and captures what was sourced, who it was sourced from, and how the award decision was made, i.e., three bids and a buy.

Robust RFX for any size

Build and run simple to complex sourcing events using documents and pre-populated templates that are fully configurable to your needs. With a sourcing solution, you achieve a competitive electronic process that drives better results and quicker RFXs allowing for more events and more savings.

See all your sourcing activity.

Improve decision making with dashboards that provide complete visibility of all sourcing activity so you can get insights into supplier data visually.

Select the right suppliers

Use Medius Sourcing to build questionnaires so that you can gather information to help evaluate suppliers. Supplier responses are automatically scored and ranked and diagrams provide an overview of each supplier’s strengths and weaknesses. Questionnaires can also be created or edited in Microsoft Excel.

Benefits

Time savings and efficiency-boosting Sourcing can accelerate the time it takes to award a contract to a supplier by drastically reducing the time you spend on the sourcing event, freeing up time to focus on other essential tasks. Improved spend compliance Sourcing can allow all procurement-related documents to be stored in just one place. By doing this, auditing is made simpler, and by extension, so is compliance with any regulatory procedures. This is because our sourcing solution shows precisely why a supplier was selected and how. Reduction in costs Medius Sourcing will streamline your day-to-day sourcing activities, including RFX, auctions, contract management, and all the way to spend analysis – helping you manage and understand all spend in your organization. Visibility to all sourcing activity Our solution allows you to create, distribute, collect and store RFX documents electronically. You’ll have access to complete data on all sourcing activities between you and your suppliers.