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What is AI Sourcing?

Updated: Aug 12, 2020

If sourcing is the procurement of names, candidates, and resumes for a specific job, then AI sourcing is the ability to expand, streamline, and automate all of the tedious steps in that process. 

One of the big advantages of AI sourcing is the ability to refer to hundreds of databases in a short amount of time. AI sourcing will allow you to unearth top talent across hundreds of sources to find the best possible matches for you while you’re setting up meetings, contacting individual candidates, or sleeping. 

While, traditionally, you might need various departments that take on different roles in the candidate sourcing process–for example an initial team for name procurement, followed by a series of other teams that cover qualification, interviews, and matchability–AI sourcing will automate most of those steps and allow you to focus on the human elements. 






Sourcing Beyond Border LLC born out of necessity to resolve market volatility which caused significant challenges to business procurement needs. Today’s fast-paced and ever-changing business world has created so much turmoil that we find ourselves struggling to find steady ground. The economy continues to fluctuate, and every business is trying to come up with a strategy to generate positive returns. Procurement is no stranger to this turmoil, fortunately, team of SBB LLC strategic partnership may offer solution to resolve such market uncertainty.

Considering ongoing market volatility and geopolitical shift in global business demand, it is imperative to take drastic changes to increase business profitability and reduce risks. Business leaders must go beyond their traditional business methodologies and sourcing.

To tackle increasing manufacturing costs, a large number of organizations sourcing a viable option and develop business models that look beyond their national borders to achieve efficiencies to complete in these challenging marketplace.


To deliver value to the business it is critical to have insight into the current cost and market dynamics of key products & raw materials, together with sound knowledge of modern-day global supply chain market risks. Our experienced sales and technical staff will guide you through your product-specific procurement needs for ultimate project success. SBB LLC team will work with clients to look at several factors that impact global sourcing and identify areas that can have positive effects on the client’s procurement needs.

SBB LLC offers knowledge and expertise along with long-standing global sourcing experience to determine which sources can provide the right product at the most competitive price. Team SBB offers over 40 years of combined global sourcing experience with a high sense of urgency committed to our customer needs.


GUIDELINES FOR AN EFFECTIVE GLOBAL SOURCING STRATEGY

Profile the category

Experience and qualified team of SBB Inc will work with client to ensure and understand everything about the spend category and will identify what is the current quantity used, types, sized, specification, grade and, who are the users, where the process activities is and who else is involved.

Following the category selection, SBB will work with overseas suppliers to measure the cost impact including who provides the resource or service, total costs involved, contract length and terms, transportation and logistics consideration, and anything that else impact present or future expenses. All the data will be documented in as much details as possible.

Supply Market Analysis

SBB will seek potential suppliers after extensive research and analyze the supplier’s marketplace dynamics and current trends for risk assessment. Depending on the findings from the market evaluation, the economic operational advantages will be considered and evaluated.

Develop the Strategy

There are many different ways to acquire a product or services and partnered with suppliers. Deciding on a purchase whilst minimizing risks and costs will depend on how the sourcing strategy is developed. SBB Inc. will streamline the sourcing strategy which will be beneficial on all aspects of customer procurement/ sourcing needs.

The six-step plan to select and evaluate sourcing partner,

Establish sourcing needs

Document the current sourcing model

Document the desired sourcing model

Create a visualization

Evaluate suppliers

Make an action plan

Availability of needed resources

SBB team offers knowledge and skills required for global sourcing to identify availability to needed resources as per the customers needs. SBB will be narrow down qualified sources from the supply markets while collaborating across functional boundaries and make them available for further client’s evaluation.

Select the Sourcing Process (request for proposal)

If needed SBB Inc will take competitive approach and issue request for proposal (RFP) for quote from qualified suppliers. It is includes product or service specification, delivery and service requirements, evaluation criteria, pricing breakdown and legal and financial terms and conditions. Ensure that every supplier is aware they are competing on a level playing field. SBB will proposed received quotes along with recommendation to the clients for further evaluation.

Supplier Section and Negotiation

SBB Inc. will work with client to create specific criteria evaluating suppliers and vendors capabilities. During selection and negotiation project, communications with many suppliers for clarifications and details where needed and conduct with multiple rounds of negotiations to find out which suppliers offer the most value and benefit. All the pros and cons along with associate challenges will be presented to client for better selection process.

Implementation

SBB Inc will draw up a contract for the winning suppliers and notify them to ensure that they are involved in the implementation process. In this stage, a performance analysis is created where the selected sourcing partners all activities performed as per agreed upon implementation schedule.

The communication plan will be established which will include any improvement to specification or process, changing in delivery, changing in pricing or service requirements. SBB Inc will act as strong mediator to between clients and supplier to assure proper implementation of agreed upon term and conditions along with product/ service quality and delivery.

Measuring and Monitoring Performance

We believe on constant improvement in our services and working philosophies. In order to achieve client satisfaction and total control on quality deliverables, SBB will be carried out performance evaluation of the sourcing company in response to the procedures and resources that are applied by supply partners and independently. Performance evaluation will be routine tasks and will be documented on a regular basis.

The objective of performance monitoring is to maintain the most efficient procurement process. Conducting value analysis and competitor benchmarking are the way to ensure stay on the path to improvement.

Summary:

Cost – Competitive prices are the main reason for this sourcing strategy to a foreign country. It is outmost important to consider additional hidden costs such as taxes, insurance, cargo damaged and etc.

Laws/ Contracts – SBB Inc. team together with the supplier will work out the contractual agreement, i.e, the either buyer’s or supplier’s country law or the law applicable through a signed treaty between the two parties.

Currency – Consideration to be given into contract about the fluctuation of the currency rate. The sourcing firm shall consider the possibility to currency rate fluctuation to the supplier’s currency, where the buying country’s currency may become stronger in the period between agreement and supply and eventual payment.

Lead time – Purchases will have significant longer lead time than that of domestic sources considering geopolitical reasons. SBB will assure to keep customer up to date with production forecast, logistics challenges, custom clearance process and status of shipments.

Transportation – SBB will be frequently using multiple modes of transport depending upon sourcing requirements and complexity of shipment. e.g., combines air or sea freight and transport the goods from the warehouse and finally to end-user.

Method of payment – Will be determined based on the client's needs and supplier's capabilities.


Amol N. Patil, Lead Operations Manager

Amol@sourcingbeyondborders.com

Amol N. Patil is SBB’s Lead Operations Managers. Amol holds M.S. degree in Structural Engineering from Northeastern University. After graduation, Amol began working with Oil & Gas industry and carried out several challenging projects in North America, Europe, and African continents.

Amol offers years of experience in delivering complex projects and currently leading SBB strategic project development and is responsible for day-to-day management and leadership of the organization.

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