Large Pool of Suppliers Across Many Spend Categories
To compete and grow, retailers and wholesalers are increasingly turning product sourcing to the procurement of private label products and the purchasing of raw materials for in-house production. The goal is to systematically improve margins and strengthen their negotiating position against brand suppliers. At the same time, they are looking to build resilient sustainable supply chains.
A Unique Strategic Approach
Retailers and wholesalers are also facing large increases in transportation and indirect expenditures. A high-performing strategic sourcing program, augmented by strategic sourcing applications, typically generates 10% to 20% savings and addresses many of today’s challenges like supply chain disruption, margin pressure, increased consumer expectations, and the need for innovation.
An Integrated Human and Technology Strategic Sourcing Solution
By providing a unique integrated human resource and technology strategic sourcing solution, K2 Sourcing has helped many well-known top-100 retailers improve margins, cash, and growth.
This experience qualifies K2 Sourcing to provide:
Lists of global suppliers across both product and nonproduct categories
Hundreds of RFP templates that capture total cost, ESG, and service variables
Stakeholder interview checklists ensure the right information is gathered
A successful repeatable transparent RFP process
Specialized commodity teams comprised of advisors, project managers, and analysts
An RFP application, that makes the strategic sourcing process easier and more effective
A measurable process that clearly proves outcomes
By leveraging K2 Sourcing as a team member retailers expand their resources and:
Improve savings generated by 5% to 25%
Fill the procurement team resource and experience gaps
Accelerate generation and realization of savings
Gain global sourcing access with local support in 14 countries
Find the suppliers that can best support your business objectives
Introduce the company to huge pools of potential suppliers
Shrink RFP review cycles by as much as 50%
Mitigate supply risk using the right award strategies
Understand supplier ESG, including scope 3, accomplishments
Access market intelligence
Benchmark with your peers
Launch new products faster
Reduce operating costs
Promote a cost-conscious and value driven culture
Increase innovation
Utilize best practices such as eprocurement and esourcing
Reduce pesky time-consuming introductory sales calls
Increase team morale
Allow leaders to react rapidly to changing resource needs
K2 Sourcing has helped many well-known top-100 retailers improve margins, cash, and growth.
K2 Sourcing has helped many well-known top-100 retailers improve margins, cash, and growth. Our strategic sourcing teams have helped review billions of dollars across several hundred categories resulting in cost savings of over $600 million. Some of these categories include:
Product strategic sourcing
Private label and branded convenience, shopping, and specialty products. Fitness and sports, health and beauty, electronics, home goods, toys, tools, pets, and other consumer packaged goods.
Nonproduct strategic sourcing
Packaging supplies, real estate, uniforms, tshirt bags, print, signage, fixtures, material handling, racking, conveying, robotics, consulting, professional services, registers, scanning, contingent labor, IT hardware, office supplies, IT consumables, software, telecom and networking, consulting services, promotional items, furniture, and more.
Transportation
Full truckload, less than truckload, ocean full container, ocean less than container load, airfreight, parcel, intermodal, rail, 3PL warehousing, reverse logistics, pool distribution, final mile, and dedicated.
Why K2 Sourcing?
Amplify Sourcing’s Impact from Day One
By leveraging K2 Sourcing as a team member, retailers are able expand their resources to reduce spend, mitigate risk, improve sustainability, and attain goals faster.
An Integrated Human and Technology Strategic Sourcing Solution
Hiring additional team members across so many categories and getting them up to speed is expensive, time consuming, laden with risk, and takes months. There are other agencies that provide procurement consulting solutions. K2 Sourcing offers an integrated human and technology strategic sourcing solution that provides an unparalleled value.
30-Day Cancellation Clause
With a 30-day cancellation clause, there is minimal risk to access the accumulated experience from K2 Sourcing team members having run several thousand strategic sourcing engagements.
Immediate Access to Top-Notch Talent and Resources
Be it product and private-label global sourcing, nonproduct or indirect goods and services strategic sourcing, or analyzing opportunities for vertical integration, utilizing K2 Sourcing provides immediate access to top-notch talent, resources in 14 countries, our award-winning RFP and reverse auction technology and templates, global supplier lists, and world class strategic sourcing processes.
Reaching Procurement Goals Made Easy
As retail and wholesale procurement teams will be challenged to produce greater value and fight inflation, make it easier for the team to reach your procurement goals. Schedule an introductory call with K2 Sourcing today.
Have a question about our sourcing services or application? Give us a call or fill out the form and we’ll be in touch shortly.
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