What is a Multi-Buyer Sourcing Event?
Multi-buyer events occur when more than one category of product is purchased, as part of a specific project or activity.
This is often the case in Marketing Campaigns. Where a wide range of items and services can be purchased to support the campaign. For example, in the case of a Marketing Campaign this could include:
- Table Talkers
- Baseball Hats
- Digital Media
- Marketing Services
- Event Hire
Bringing all these items together would result in a Multi-buyer sourcing event
Multi-buyer sourcing events cross boundaries between Category Managers within an organisation.
To support a Campaign or Project, and associate all the procurement activities within this Campaign, requires a Multi-buyer sourcing event to be initiated and managed.
There needs to be a sourcing team view of all the parts of the Campaign or Project. A workflow to manage the relationship between each part (category) needs to be developed. Clearly logistics or postage can’t take place until after the collateral has been printed, finished, folded, put in envelopes etc. Then of course supplier PO and invoicing can also be managed by separate buyers.
There may be a specific buyer with skills, knowledge and market intelligence on each part, (category.) For logistics this may also be separated. A Procurement team could be given parts (categories) to source depending on their personal utilisation. They may decide an RFx is required, they may use a catalogue or they may use auctions. Depending on the Product or Service the methodology of procurement may vary. The key is this needs to be managed in context of the overall multi-buyer sourcing event.
These projects or campaigns can run into many hundreds of purchasable items, so can be very complex to manage.
Typically this is achieved with manual processes and use of spread sheets. However, if you would like to learn how this can be automated then click the link below to contact Claritum.
Multi-Buyer Sourcing Event
A Multi-buyer event is a process where more than one buyer would be involved in the purchasing associated with a Project or Campaign
This could be any type of project activity that contains a range of products and/or services that need to be purchased in association
A Marketing Campaign is a Marketing driven activity to promote products or services. It would typically encompass a number of distinct activities and the need for associated promotional items. Campaign purchases can cover a range of things, including outsourced services, space in magazines or physical exhibitions and branded promotional items.