In the current economic environment, buyers need to make their budgets go farther and quickly find the best deals, while suppliers require access to pent-up demand and are willing to compete for it. Sourcing Factory™ is an online system that handles all of the supplier negotiations for buyers, saving everyone time and money!
With Sourcing Factory™, suppliers compete against each other for specific job or purchase listings in a fair, ethical and transparent manner. Multiple rounds of bidding occur much more quickly with Sourcing Factory™ than through traditional negotiating processes, bringing the price down for buyers and creating a level playing field for suppliers. The key is buyers have more choices and lower prices, 5-30% lower on average than non-bid or closed bid transactions (citation). Click on our overview video to learn more about how online supplier bidding works for the pros and how Sourcing Factory™ can work for you!
How it started...
Sourcing Factory™ is the brainchild of two former high-ranking officials at pharmaceutical giant GlaxoSmithKline (GSK): Gregg Brandyberry, former VP of Procurement of Global Systems and Operations at GSK and Jason Magidson, former GSK Director of Innovation Processes. Together they led award-winning teams that created a suite of procurement systems that saved the company millions of dollars and generated huge returns on investment. Now, through the creation of Sourcing Factory™, they bring those same time and cost-saving buying tools to corporations, small businesses, consumers and suppliers.
“We live in a tech-savvy age, yet the process of making a major purchase – gaining referrals, searching the Internet and other resources for suppliers, and setting up appointments to acquire quotes – seems to be stuck in the Stone Age,” says Gregg Brandyberry, Sourcing Factory™’s Chief Executive Officer. “And why should suppliers have to sit around waiting for buyers to call or visit their Web sites?
“With Sourcing Factory™, buyers decide how open the bidding will be. Suppliers invited into the system by the buyers will see those jobs and post their quotes for each round of the bidding process. This method saves buyers both time and money, and also maintains the integrity of free and fair competition for suppliers.”
“No expensive technology or extensive resources are required to use this system, all you need is a web browser. Whether you want new computers for your small business, equipment or professional services for your large corporation, or your house painted, SourcingFactory.com™ is the best way to get suppliers competing for your business. Sourcing Factory™ has the best practices and ideas from big business experience on a large scale, in a scalable, user-friendly web interface that anyone can benefit from and is a pleasure to use. We've implemented idealized design, so you will find continuous improvements to fit our users' growing needs.”
