New Online Sourcing Readiness Assessment (SRA) Tool


Author: PASA

Today, Acquire Procurement Services, a company with lofty ambitions of delivering more than $10B in value for their clients through improved supply agreements, have released their new online Sourcing Readiness Assessment (SRA) Tool to the public – and made it free!

The Sourcing Readiness Assessment provides a way for contract owners and procurement professional alike to validate that they have completed the necessary preparation that is required to deliver the maximum value for their organisation.

Developed from knowledge acquired sourcing and establishing supply contracts worth more than $10B over the past 10 years, this tool is a step forward in continuing to build procurement’s value proposition. The new tool is aimed to be a proactive and simple way to getting your major sourcing agreement right in the first place.

Simon Thompson (Director, Asia Pacific) says, “From working in procurement for years, we’ve found that people outside of procurement still believe that anyone can source something and run a tender. We continually see stories in the newspapers about a government supply contract that has gone poorly. If only organisations had a good understanding of the size and complexity of the undertaking involved in sourcing, they could get much better solutions and save significant amounts of money.  

“Unfortunately, sourcing events too often result in a product or service that isn’t right for the business, that costs too much, doesn’t mitigate the business risks, and the real value the supplier can provide to the organisation is lost. Our new cloud based Sourcing Readiness Assessment (SRA) tool provides a simple way for businesses to validate that they’ve completed an appropriate level of pre-work before engaging the supply market.”

The online assessment takes only 5 minutes to complete and provides a graded assessment which is tailored to your organisation and the product or service that is being sourced. The report itself provides useful information about how much work is required to be completed given the significance of the sourcing exercise, your assessed preparedness, and a list of treatment actions to help improve sourcing readiness.

The tool is useful for both businesses with a Procurement/ Supply function, as a quick and easy tool to assess they’ve invested an appropriate amount of effort into each sourcing activity; as well as those without a specific sourcing capability, to validate they’ve considered the key points for their sourcing exercise.

Link to the tool:

About Acquire Procurement Services: Acquire is a boutique consulting company based in Brisbane, AU. Founded in 2014, Acquire specialise in assisting organisations to maximise value in their major supply arrangements.

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