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New Version of SciQuest Advanced Sourcing Optimizer (fmr. CombineNet) Released

Written By: Predrag Jakovljevic
Published On: December 20 2013

SciQuest, a provider of cloud-based spend management software solutions, announced the availability of a new version of SciQuest Advanced Sourcing Optimizer (ASO). This is the first upgrade to the flagship CombineNet product since SciQuest acquired the sourcing optimization company in September.
 
The upgrade provides additional flexibility and power to bid analysis and sourcing optimization processes. With greater analytical power and flexibility to evaluate sourcing data, users should be able to gain a more sophisticated and nuanced understanding of sourcing activities. New capabilities include the following:
  • Cost Model Analysis Flexibility—Users can now create multiple cost models, including historic cost models, in a single sourcing event while electing which cost model to apply in “what-if” scenarios for bid analysis and optimization. Buyers can thus now look at multiple pricing models and compare total costs or specific portions of total cost to historic prices, benchmark data, or market rates.
  • New Ratio Balancing Rule—This brand new scenario optimization rule enables buyers to ensure that when suppliers are awarded certain items, they are also awarded other items based on a ratio determined by the buyer. This makes transportation and supply chain execution more efficient, improves support for corporate sustainability, and helps buyers balance the award of different items to suppliers.
  • Predefined Scenarios—Sourcing events in SciQuest ASO now include three predefined scenarios (Single Supplier, Lowest Bid, and Lowest Bid Considering Capacity) to support faster analysis of simple award strategies and support novice users as they begin to use optimized scenario analysis.
  • Sourcing Event Editing—This new functionality allows buyers to change certain event features that would have been previously “locked in” once the event was opened to suppliers, allowing buyers to easily make changes to the sourcing strategy at any time.
 
 
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