RETAIL USE CASE
High-performing procurement for retail companies.
See how retail organisations can use Workday Strategic Sourcing to make data-driven decisions, manage spend across locations and support supplier relationships.
Key use cases.
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Streamline stakeholder requests – enable procurement teams to partner with business stakeholders to better support your stores. Use intake request forms to capture essential project details for sourcing fulfilment from stakeholders.
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Strengthen sourcing strategy and project prioritisation – manage and prioritise initiatives, drive collaboration and measure sourcing impact – all in one place.
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Scale sourcing events – execute the sourcing process for goods and services. Set up and publish RFPs/RFIs/RFQs, establish bidding activity with suppliers at scale, collaborate with stakeholders to compare bids and determine the optimal award scenario.
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Leverage reverse auctions – manage your pricing for goods or services with the use of reverse auctions, enabling suppliers to compete for bids in real time.
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Improve supplier negotiations – analyse side-by-side comparisons of supplier bids and calculate savings based on the best possible business outcomes. Use actionable data and current market trends to provide real-time feedback to suppliers on how to improve bids.
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Automate contract management – centralise contracts in a common repository to gain full visibility into all of your agreements. Collaborate on contract creation and revisions by seamlessly integrating with Microsoft® 365.
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Enhance supplier onboarding and compliance – manage onboarding and data collection for all transactions. Ensure critical supplier data is kept up to date for compliance, and assign risk scores based on specific attributes.
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Support supplier performance – close the loop on the sourcing process through performance management, including quarterly business reviews and development plans.
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Validate savings – identify where savings are realised and how to avoid unnecessary costs. Attribute savings to specific categories or project owners.
See how we serve the retail industry.