What is guided sourcing capability for SAP Ariba Sourcing in SAP BV-SRM - Brand Voice - Supplier Relationship Management?

SAP Term: guided sourcing capability for SAP Ariba Sourcing

• Component: BV-SRM

• Component Name: Brand Voice - Supplier Relationship Management

• Description: A capability that is available for SAP Ariba Sourcing.

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• Key Concepts: 
  Guided sourcing capability for SAP Ariba Sourcing is a feature that helps buyers and suppliers to quickly and easily create, manage, and execute sourcing events. It provides a streamlined process for creating and managing sourcing events, including the ability to define criteria, invite suppliers to participate, and evaluate bids. It also provides a comprehensive view of the entire sourcing process, from start to finish. 
  
  How to use it: 
  To use the guided sourcing capability for SAP Ariba Sourcing, buyers and suppliers must first create an account on the platform. Once an account is created, buyers can create a sourcing event by defining criteria such as budget, timeline, and desired outcomes. They can then invite suppliers to participate in the event by sending out invitations. Suppliers can then submit bids based on the criteria set by the buyer. 
  
  Tips & Tricks: 
  When creating a sourcing event, it is important to be as specific as possible when defining criteria. This will help ensure that suppliers are able to submit bids that meet the buyer’s needs. Additionally, buyers should take advantage of the platform’s analytics capabilities to track supplier performance over time. This will help them make informed decisions when selecting suppliers for future events. 
  
  Related Information: 
  The guided sourcing capability for SAP Ariba Sourcing is part of the BV-SRM Brand Voice - Supplier Relationship Management suite of products. This suite of products provides buyers and suppliers with a comprehensive view of their relationship, including supplier performance metrics, contract management tools, and analytics capabilities. Additionally, it provides buyers with access to a global network of suppliers and access to real-time market data.