Where AI Meets Sourcing Software

Strategic sourcing software built for savings

Unlock cost savings, streamline supplier selection, and optimize procurement decisions with strategic sourcing software, powered by Order.co's proprietary sourcing AI.

purchasing manager enjoying ease of strategic sourcing software

Elevate strategic sourcing for
your business

  • Cost savings

    Leverage AI-driven sourcing software and spend analysis to realize substantial cost reductions and maximize savings on products.

  • Procurement efficiency

    Accelerate approval workflows, contract negotiations, and sourcing with automation to free up time for more strategic initiatives.

  • Supplier management

    With all suppliers in one system, easily evaluate performance, track key metrics, and improve supplier relationships.

  • Risk mitigation

    Avoid procurement disruptions and foster a resilient supply chain with access to an extensive vendor network and dedicated order support team.

Cost savings from automated
strategic sourcing

Saved per month

Saved per month

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How it works

Order.co's cutting-edge AI technology, extensive supplier network, and vendor partnerships team deliver unparalleled procurement efficiency.

bulk pricing discounts with group purchasing in strategic sourcing software

Unlock bulk pricing with group purchasing

Access $4 billion in buying power and a 15,000+ vendor network for exclusive bulk pricing, discounts, and favorable terms.

automatic price comparison shopping in strategic sourcing software

Automated price comparison shopping

Simplify cost savings by leveraging AI technology to source better prices for the same products you're purchasing today, saving an average of 5%.

product substitutions in strategic sourcing software

Seamless out-of-stock substitutions

Ensure product availability with seamless substitutions of the same quality when items are out of stock.

detailed spend analysis in strategic sourcing software

In-depth spend analysis

Gain insights with granular procurement analytics, providing detailed spend analysis for informed decision-making and cost-saving opportunities.

expert contract negotiation in vendor management software

Expert contract negotiation

Secure better pricing or terms for high-ticket vendors and products with the hands on support of Order.co’s Vendor Partnerships team.

Simplify sourcing for your business with Order.co

See how strategic sourcing software can automate your sourcing process and unlock savings.
Get started

Frequently asked questions

Strategic sourcing is precisely what it sounds like — it’s the practice of applying advanced strategy and analysis to the sourcing stage of procurement. Strategic sourcing aims to procure goods, products, and services at the lowest total cost while keeping in mind product price, quality, value, logistics costs, overall savings, and product reliability.

Strategic sourcing software is used to standardize sourcing requirements and give you a single, centralized platform to collect data on supplier performance, products, markets and business needs.

Here are seven steps to ensure a strong procurement process through strategic sourcing: 1. Conduct market analysis for the product or spend categories you’re trying to fulfill. 2. Evaluate the supplier landscape. 3. Narrow down potential suppliers by conducting preliminary due diligence and understanding each vendor's offering and value proposition. 4. Begin the request for proposal (RFP) or request for quote (RFQ) process with shortlisted vendors. 5. Negotiate with suppliers to reach an acceptable purchase price and fulfillment terms. 6. Once a contract is executed, create a workflow to track the delivery and conduct a quality assessment of the process and the product. 7. Conduct regular performance evaluations for vendors, analyze spend, adjust where needed, and commit to another competitive analysis when the contract term or project ends.

Sourcing and procurement get used interchangeably. This isn’t totally accurate—but in many respects, they’re not that different. Procurement is the overarching set of processes and activities a company undertakes to find, purchase, and pay for goods and services. Strategic sourcing is a component of the total procurement process. It represents a variety of sourcing activities, like: developing search criteria, vetting suppliers, implementing standards and assessing risk.

Tactical sourcing is the practice of purchasing supplies or services quickly, with a minimal process focused on speed rather than on guidance from an organizational sourcing strategy or process. Strategic sourcing, on the other hand, takes the broader needs of the organization into account. It has a more detailed research and review process, usually involving an RFP and competitive analysis of several potential vendors.

How much can you save with strategic sourcing software?