In this section, we will learn about the key features of SAP Ariba. At the onset, Ariba was a B2B company to do procurement over Internet and was the first one to introduce IPO in 1999. The cloud based innovative solution was first developed in 1996 by a company named Ariba and was later acquired by SAP in 2012 with a total acquisition cost of 4.3 billion USD with each share cost $45.
To enable healthy supply chain, you need to have suppliers with visibility to every part of procurement process so that they can maintain an efficient supply chain and help organizations to grow their and own business. In today’s world, there is a need to control your supply chain and to collaborate with your suppliers in an efficient way. SAP Ariba digitally transforms your supply chain, procurement and contract management process. Ariba acts as supply chain, procurement service to do business globally. It improves over all vendor management system of an organization by providing less costly ways of procurement and making business simple. However, strategic sourcing is a larger concept that aims to improve the procurement process of your business and ensure the lowest cost for the whole process.SAP Ariba is a cloud-based innovative solution that allows suppliers and buyers to connect and do business on a single platform.
Sourcing is simply the process of identifying the suitable suppliers for your business to procure products and services at the optimal price. You will also see a difference between two terms – sourcing and strategic sourcing. You will have to factor in the total sourcing cost, including the price for creating contracts, time factors, and transportations, not just the direct purchase cost. However, if you consider long-term prospects, you will have to consider many additional factors where the concept of sustainable savings comes into play. But can the lowest price always guarantee you the highest savings for your business? For a very short-term, it might. In a traditional sense, many of us often look at sourcing with a narrower view: finding a supplier and negotiating to secure the lowest possible price.
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