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News & Events:
September 21, 2013
Upgrades to Reverse Auction add Flexibility

By K2 Sourcing

K2 Sourcing recently released a number of changes to it's reverse auction system to add flexibility for the administrator and the supplier.  Reminder notifications have also received significant upgrades. K2 Sourcing continues to pursue upgrades that improve the experience for all that login into Lean Source, K2 Sourcing's complete eSourcing solution.

http://www.k2sourcing.com

Source: K2 Sourcing

August 20, 2013
Innovating Procurement: Plexxus' First Reverse Auction

By K2 Sourcing

 

Plexxus Hospital Operations Sourcing Team took a new approach towards driving down costs for Member Hospitals by having proponents in the Nursing Staffing Services RFP-- on behalf of University Health Network and Mount Sinai Hospital -- participate in a live reverse auction, a first in healthcare in Ontario.

Six proponents who obtained the minimum score in the RFP evaluation process were shortlisted and invited to participate in a reverse auction, where they would submit decreasing bids on their hourly rates.

The Plexxus Hospital Operations Sourcing team was tasked with solutioning a tool to facilitate the live auction, which would take place online. After an involved process including research and product demos, K2 Sourcing Inc., was engaged to be the service provider for the tools required to facilitate the auction.

The auction was scheduled for 30 minutes with 5 minute extensions in the case of a last-minute bid. In total, the auction lasted 50 minutes, with four suppliers submitting 30 counter offers resulting in significant savings over the five-year agreement.

Final price submissions as a result of the auction for the four participants ended with less than a 3% spread, confirming that a market value was established. A market value allows for qualitative factors to have a larger impact on the final decision, thereby helping to ensure that the most competent supplier is selected at the best price.

Because of the successful outcome of this event, this technique may become more widely used by Plexxus as a sourcing strategy.

 

http://www.plexxus.ca/annual-reporting.html

Source: Plexxus

June 4, 2013
Retail eProcurement Executive Joins K2 Sourcing

By K2 Sourcing

K2 Sourcing is pleased to announce a significant addition to our eSourcing team.  Dan Carlson, an experienced Purchasing and eSourcing executive from the retail industry, will augment K2 Sourcing’s ability to assist our clients in the more effective use of our eProcurement applications and professional procurement services.

After working at IBM in 1993 Dan became Walgreens Director of Corporate (indirect) Purchasing.  As part of his role leading the purchasing team, Dan instituted the use of eSourcing applications not only for indirect purchasing, but for goods and services across all company departments including merchandise – items for resale.

Creating a true center of procurement excellence, Dan’s team of eSourcing professionals operated as a shared resource assisting in over 1,000 strategic eSourcing and reverse auction events that resulted in significant reductions in expenses and cost of goods sold, and improvements in supplier performance.

K2 Sourcing enjoys a strong presence with retailers and is already well known as the service leader in the eProcurement market.  Dan brings exceptional on the ground experience to enhance K2 Sourcing’s ability to provide our clients with outstanding service that drives real results.

Source: K2 Sourcing

April 15, 2013
Anecito Dumdumaya Joins K2 Sourcing

By Matt Miller

Anecito Dumdumaya has joined K2 Sourcing as application developer.  Coming to K2 Sourcing with a Masters and 15 years of application development, including database optimization, and building ecom and marketplace sites. Jun will apply his skills to build out eProcurement functions such as advanced scoring, contract management, optimization, spend analysis, and some market disrupting applications which we do not wish to reveal....yet. 

Source: K2 Sourcing

April 9, 2013
Matt Miller Continues with ISM

By Matt Miller

Matt Miller, President of K2 Sourcing, has accepted a new appointment as Secretary/Treasurer on the Board of Directors for the Institute for Supply Chain Management (ISM-MLK) Milwaukee.  The ISM Milwaukee is part of the largest non-profit association of supply chain professionsals with over 40,000 member.  The ISM-MLK has over 400 supply chain professionals in the greater Milwaukee region. 

Source: K2 Sourcing

March 4, 2013
Gwen Castillo Joins K2 Sourcing

By Matt Miller

Gwen Castillo has accepted the position of Application Manager for K2 Sourcing.  Her role includes managing the team thorugh new application developement, client requests, upgrades, bug tracking, testing, technical writing, and training.  In her previous employment, Gwen managed a custom web development company.  She brings a broad range of experience understanding client needs and converting those into user-friendly applications.  A perfect fit for K2 Sourcing's goal to provide the best experience in eProcurement and eSourcing.

Source: K2 Sourcing

November 1, 2012
K2 Sourcing Release Contracts Beta

By K2 Sourcing

K2 Sourcing is announcing the release of a Beta contract application to add to Lean Source, K2 Sourcing's award winning eSourcing and reverse auction platform. 

"While we do not want to release too many details until we receive detailed feedback from our test site, our intention is to introduce a very differnt apporach in the marketplace."

"Initial feedback is extremly positive, and we expect the launch to be a large success," states Matt Miller of K2 Sourcing.

Source: K2 Sourcing

August 30, 2012
ISM Golf Outing

By K2 Sourcing

Chaired by Matt Miller, President of K2 Sourcing, and VP on the Board of Directors for ISM Milwaukee, the annual ISM Fundraiser netted over $8,000 dollars to be used to promote education within Supply Chain Management. 

Source: K2 Sourcing

May 17, 2012
Major eRFx Upgrade Released

K2 Sourcing upgraded the eRFx (eRFI, eRFP,) module of Lean Source, K2 Sourcing's eSourcing platform.  The upgrade simplifies the interface while introducing drag and drop functionality.  With the new interface, one can grab a question or statement and can change the order or move items into new sections.  Additionally entire sections can be reorganized with the same simple drag and drop approach.  All numbering and formating updates automatically.  With a full live preview screen creating an RFI or RFP has never been easier.

http://www.k2sourcing.com

Source: K2 Sourcing

April 11, 2012
Matt Miller Accepts Nomination to VP of ISM Milwaukee Board

By K2 Sourcing

Matt Miller, President of K2 Sourcing, began a multi-year term as VP Board of Directors for the ISM Milwaukee. In this roll, Miller will promote the importance of Supply Chain Management and the continuing education of best practices within Supply Chain Management. One of fun goals this year is to raise $10,000 for local college scholarships.

Source: K2 Sourcing

April 10, 2012
Milwaukee ISM Golf Outing Grows

By Matt Miller

The 10th annual charity golf outing for the Milwauskee-ISM (Institue for Supply Chain Managers - the world's largest supply chain association) now includes the Chicago-ISM and the Madison-ISM. The new outing reaches out to over 1,000 supply chain professionals.  The goal of the outing is to raise money for scholoarships to local colleges supply chain programs and for ongoing ISM eduction efforts.  Supply Chain represents one of the fastest growing areas of importance within organizations.  More and more organization are viewing supply chain as a competitive weapon or a weakness.  As globalization continues, the profession will require top talent to meet the challenges.  ISM is comitted to help creating such talent.  Matt Miller, President of K2 Sourcing and VP on the board of Directors for the Milwaukee ISM Chairs the golf comittee.

Source: K2 Sourcing

March 8, 2012
K2 Sourcing Achieves Record Sales

For the first QTR of 2012, K2 Sourcing achieved record sales. This represents year over year growth of over 30% with the prior year growth ending up about 25%. Growth is managed very carefully at K2 Sourcing. Our primary goal is to provide the Best Service in eSourcing. We strive to be the best in the world at executing strategic sourcing events. That takes a strong infrastructure and a dedication to internal development. As we continue to grow, we will continue to invest in our eSourcing system and internal capabilities - relentlessly improving our already exceptional award winning service and capabilities.

Source: K2 Sourcing

January 18, 2012
More Upgrades

K2 Sourcing released another upgrade.  The upgrade provides more user control of profiles and improves the view only capabilities of the eSourcing and reverse auction applications.  Additionally changes were made to the indexing to provide even greater speed.  These changes reflect our comittment to aggresive R&D based on customer feedback.

December 18, 2011
K2 Sourcing President Aids in Fund Raising Efforts

Matt Miller, President of K2 Sourcing chairs ISM-Milwaukee Golf Committee and Supplier Showcase.  “Last year was a year in training for me.  It was the first time I had participated in such fund raising events.  Through our efforts last year we raised a significant amount of money for the ISM Milwaukee Scholarship and educational programs as well as for MS.  Last year Governor Scott Walker spoke at the showcase and it was a large draw.  Though it might be tough to beat last year our mission is to raise money for Supply Chain scholarships and continuing education.”

Source: K2 Sourcing

December 8, 2011
K2 Sourcing Meets Entertainment

K2 Sourcing recently added clients associated with the gaming industry and seperately with assisted living.  The markets are differnt but understanding the unique requirements of both property managment and how to serve people is not.  Applying eSourcing is quite logical to these complex spend and service requirements.

Source: K2 Sourcing

December 2, 2011
Retail Presence Continues to Grow

By K2 Sourcing

K2 Sourcing signs to more notable retailers to it's eSourcing platform including Menard Inc.  K2 Sourcing has a good presence with retailers and conintues to provide high service tailored solutions to meet the unique requirements.

Source: K2 Sourcing

November 16, 2011
Upgrades to RFx go Live

By K2 Sourcing

K2 Sourcing published upgrades to it's Rfx module.  The upgrades are designed for both users and respondents to work faster with the platform, and to provide additional communication improvements. 

Source: K2 Sourcing

November 2, 2011
New R&D Process

By K2 Sourcing

K2 Sourcing has revamped it's new and change product process.  Utilizing ISO principles K2 Sourcing mapped the process, and identified critical gateways.  It all starts with our clients aand designing the application correctly.  The design also must meet with our mission to provide the best service in eSourcing.  That means bug free applications with a desgin that is extrmely easy to use.  Our goal is to take complex products and create beuatiful designs that are so intuitive users need little to no training.  Now procurement processes and contracts can be extremely complex, so it is a tremendous challenge.  Our new process, which includes automated subversioning supported by special test systems allows us to utilize Lean Principles and EXECUTE more effectively than competitors.  Our goal is to create upgrades each month in 2012. 

Source: K2 Sourcing

October 11, 2011
eSourcing and the Truth About Reverse Auctions Live Presentation

By K2 Sourcing

Matt Miller, President of K2 Sourcing, provided a presentation to the members of the North East Wisconsom ISM group.  The group was well attended, and asked a ton of great questions.  "The goal is to help educate people of the opportunties to streamline processes utilizing eSourcing and eProcurement and how that differs from the utilization of reverse auction systems," state Miller.  If your organization is interested in such a presentation, please contact matt.miller@k2sourcing.com

Source: K2 Sourcing

October 10, 2011
ISM-Milwaukee Supplier Showcase Draws Large Crowd

By K2 Sourcing

The ISM-Milwaukee supplier showcase drew a large crowd Monday night.  Over 250 people from the ISM, ASQ, and APICS attended the event.  OVer 20 suppliers particpated in sponsorships and showcasing there products and services.  Governor Scott Walker arrived, provide an update on Wisconsin's business climate, and departed to a standing ovation from the crowd.  ISM Board Member Matt Miller helped organize the event and provided closing remarks. 

Source: K2 Sourcing

August 17, 2011
Golf Outing Raises Large Dollars for ISM and MS

We are happy to say the ISM-Milwaukee chairty golf outing and MS raffle brought in nearly $20,000.  K2 Sourcing President, Matt Miller, with the experienced team of ISM professionals grew the event signifcantly over last year.  "Next year I expect to volunteer to again, and to continue our sponsorship." 

Source: K2 Sourcing

June 22, 2011
City Saves on Chemicals

The City of Oceanside recently participated in it’s first “Reverse Auction” as it sought to reduce the cost of its Water and Waste Water Treatment Chemicals.  Oceanside selected K2 Sourcing as the reverse auction host.

We were very happy with the entire reverse auction, and especially the incredible support  through the process to a successful conclusion. 

Oceanside will use the services of K2 Sourcing to hold another chemical reverse auction next fiscal year and plan to include other supplies as well.

Source: K2 Sourcing

May 4, 2011
K2 Sourcing Releases Major Upgrade

By K2 Sourcing

2011 marks a year of major upgrade for 2011.   By adding resources, we are signficantly increasing the functionality and introducing innovative new concepts to our eSourcing platform.  All innovations continue with extending flexibility while balancing ease of use creating a more powerful solution.

Source: K2 Sourcing

April 25, 2011
IT Research Leader Gartner Selects K2 Sourcing as "Cool Vendor"

By K2 Sourcing

MILWAUKEE, Wis., April 18.  K2 Sourcing, the service leader in eSourcing and Reverse Auction solutions, was selected as one of three, “Cool Vendors” by Gartner in the annual report, “Cool Vendors in Procurement and Sourcing Technology, 2011” (ID G00211077 by Deborah R. Wilson). 

Gartner, Inc. is the world’s leading information technology research and advisory company with 4,400 associates, including 1,200 research analysts and consultants, and clients in 85 countries.  K2 Sourcing was chosen by researchers as “Cool” due to positive feedback from clients, and for providing innovative solutions. 

Both government and private sector organizations are aggressively looking for creative ways to control costs and work more effectively and efficiently.  K2 Sourcing provides web-based eSourcing and reverse auction applications designed to do just that - help organizations procure goods and services more efficiently while at the same time achieving a lower total purchase cost for those goods and services.  K2 Sourcing additionally offers support services to help organizations maximize the results of utilizing the technology. 

Matt Miller, President of K2 Sourcing States, “When research clearly demonstrates the use of such technology saves millions of dollars for both private and public sector entities, one can clearly see the continuing increase in the adoption of eProcurement and eSourcing technology.”  As an example, the US Post Office released that they saved over $100 Million Dollars after adopting the technology.

Miller further explains, “There are many vendors in the Procurement and Sourcing Technology market.  To be recognized by Gartner as a result of client feedback and innovative solutions is a tremendous honor and provides affirmation for our mission to provide the best service in eSourcing.”

Source: K2 Sourcing

April 14, 2011
ISM Appoints Matt Miller to Board of Directors

By K2 Sourcing

President of K2 Sourcing, Matt Miller, will now join the Board of Directors for the ISM-Milwaukee.  Among activities of helping to promote the mission of the ISM and aiding in setting direction locally, Miller will be running the Charity Golf Outing and Vendor Showcase.

Source: ISM-Milwaukee

March 18, 2011
City of Milwaukee Allows Reverse Auctions

March 18th, 2011 the Milwaukee Finance Comittee unanamously approved an ordinance, allowing for the utilization of reverse auction technology.

K2 Sourcing was proud to be a part of the eduction process, and looks forward to continuing to help the City move forward.

March 9, 2011
ISM-Milwaukee Presents Award to K2 Sourcing President

By K2 Sourcing

Last night Matt Miller, President of K2 Sourcing, was presented with an award from the ISM-Milwaukee.  The award was presented by Robert Barwick, ISM-Milwaukee President, in recognition of contributions made to helping the ISM-Milwaukee achieve it's mission.

Source: K2 Sourcing

February 16, 2011
WAPP and VALUE Groups Review Reverse Auctions

By K2 Sourcing

In an upcoming meeting of the Wisconsin Association of Public Purchasers and the VALUE Group, a regional consortium of public purchasing officials, K2 Sourcing will host a discussion regarding procurement support technology and its role in driving internal efficiency and lower total purchase costs.

Source: K2 Sourcing

January 10, 2011
Study hails use of online reverse auctions

The expanded use of online reverse auctions is creating significant cost savings for taxpayers and major efficiency improvements for federal contracting officials, according to a survey released in late December 2010.

Click on the link below to read more or visit http://www.k2sourcing.com/page.php?id=25 to see how K2 Sourcing is enabling Government Procurement.

http://gtpac.org/2011/01/study-hails-use-of-online-reverse-a...

Source: Georgia Tech Procurement Center

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