RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--SciQuest, a leading provider of spend management solutions, today announced Rite Aid has renewed its use of SciQuest’s Advanced Sourcing Optimizer (ASO). A long-time SciQuest customer, Rite Aid continues to use ASO to source major indirect spend categories. Rite Aid uses ASO as a critical tool to analyze and make decisions on sourcing for a variety of complex local and national services.
“SciQuest’s Advanced Sourcing Optimizer has helped us automate elements of the process allowing us to save time and resources while also deepening our understanding of how each project is optimized,” said Frank Ho, Rite Aid vice president of indirect procurement. “ASO allows us to expertly and easily deal with the large variation between suppliers, products, prices and requirements.”
ASO is the global leader in advanced sourcing optimization with built-in bidding enhancements, scenario builders and complex item consolidation, effectively serving as the best in market solution to make quick work of even the largest of sourcing events. With powerful functionality that supports the entire sourcing cycle, ASO’s ease-of-use and unmatched flexibility delivers solutions to retail-specific challenges such as fragmented/decentralized sourcing, evolving store networks, complex transportation requirements and alignment with corporate initiatives. With the solution, organizations are able to:
- Manage large, intricate spend categories, including transportation, services and commodities to better understand how and where the organization is incurring spend.
- Combine multiple local or regional sourcing events for similar items into a single large event to reduce the time needed to manage vendors and for better rate negotiation.
- Analyze “what-if” scenarios to help balance total costs with other critical decision criteria for better, faster decision making.
“Sourcing can be one of the most complex and costly elements of operations for any company. For an organization like Rite Aid with thousands of stores across the nation, it is critical that the company be able to make the most strategic and cost-efficient decisions possible,” said Robert Bonavito, CEO of SciQuest. “With the industry’s most powerful optimization engine, Rite Aid has the sourcing tool to support their business strategies while seeing immediate return on investment.”
Some of the largest Commercial, Manufacturing and Life Sciences companies in the world trust SciQuest with billions of dollars of annual spend. Additionally, SciQuest is the leading procure-to-pay provider in the Higher Education and Government sectors. SciQuest eprocurement and strategic sourcing customers across the globe have gained access to the best suppliers, with the best terms, on our scalable, configuarable, user-friendly platform. Our SaaS-based, source-to-settle solution provides unparalleled visibility, insights and recommendations to procurement leaders and suppliers. The result is a fluid supply chain driven by powerful spend analysis, comprehensive contract management and efficient accounts payable solutions. Learn how our solutions can power your organization: www.sciquest.com.