Sourcing events

  • Release version: Yokohama
  • Updated January 30, 2025
  • 3 minutes to read
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    Summary of Sourcing events

    Sourcing events in ServiceNow enable sourcing managers to efficiently manage multi-supplier and multi-product negotiations by consolidating multiple negotiations and sourcing requests under a single event. This approach simplifies tracking, discussion, updates, and decision-making related to supplier negotiations. Managers can award contracts to one or multiple suppliers or reject bids directly from the sourcing event interface, streamlining procurement activities.

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    Key Features

    • Centralized Negotiation Management: Combine similar item requests and supplier negotiations into one sourcing event for better oversight.
    • Multiple Supplier Engagement: Manage negotiations with various suppliers simultaneously within a single sourcing event.
    • Awarding Options: Award a single supplier, multiple suppliers, or reject bids; awarding multiple suppliers redirects to the Source-to-Pay Workspace for completion.
    • State Tracking: Predefined sourcing event states (e.g., Draft, Planned, Work in Progress, Pricing Obtained, Closed) help monitor progress.
    • Related Lists: Access all sourcing requests, negotiations, purchase lines, tasks, cases, contracts, emails, and more linked to the sourcing event for comprehensive management.

    Key Fields

    The sourcing event record includes important fields such as:

    • Number: Unique identifier automatically generated.
    • Assigned to: Responsible user managing the event.
    • State: Current, read-only status of the event.
    • Supplier responses close: Deadline for suppliers to submit their responses.
    • Short description and Description: Brief and detailed information about the event.
    • Negotiation type and outcome: Defines the method of engagement and expected results.
    • Dates and Duration: Expected and actual start/end dates and total duration.
    • Negotiation objectives and Close notes: Goals for the event and any closure remarks.

    Related Lists and Integrations

    ServiceNow sourcing events provide related lists that link to:

    • Sourcing Requests and Negotiations to track individual supplier engagements.
    • Purchase Lines and Purchasing Tasks for procurement tracking.
    • Cases and Contract records (draft and signed) with suppliers.
    • Legal documents and contract requests, if Contract Management Pro plugin is installed.
    • Purchase SLAs, Purchase Requisitions, and email communications (draft and sent).

    Practical Benefits for ServiceNow Customers

    By leveraging sourcing events, sourcing managers can:

    • Streamline complex negotiation processes involving multiple suppliers and products.
    • Maintain centralized visibility and control over sourcing activities and supplier interactions.
    • Ensure timely supplier response tracking and negotiation progress monitoring.
    • Facilitate decision-making with options to award contracts or reject bids directly within the platform.
    • Integrate sourcing activities seamlessly with purchasing, contract management, and procurement workflows.

    Sourcing events represent the type of sourcing activity needed to negotiate with each supplier, and track the individual negotiations with each supplier. They help sourcing managers manage multi-supplier and multi-product negotiations.

    Instead of individually managing negotiations of similar item requests from various suppliers who provide that item, sourcing managers can create a sourcing event for a negotiation intent or objective to manage multi-supplier and multi-product negotiations. Multiple negotiations and sourcing requests can be mapped to a single sourcing event as child entities.

    Through this sourcing event, the sourcing managers can view and effectively manage the progress of the negotiations created for each supplier​. They can also discuss, follow, update, or cancel the event, as required. Further, they can award a single supplier or multiple suppliers, or even reject bids by selecting Award, Award multiple suppliers, or Reject bids respectively. Selecting Award multiple suppliers redirects them to the Source-to-Pay Workspace, where they can complete the process. For more information on this, see Award multiple suppliers from a sourcing event.

    Sourcing events can be best viewed from the Source-to-Pay Workspace list page.

    Here’s a list of key fields of a sourcing event:
    Table 1. Sourcing event fields
    Field Description
    Number System-generated unique identifier of the sourcing event.
    Assigned to User who is responsible for the sourcing event.
    State Current state of the sourcing event.
    Note:
    This is a read-only field.
    Supplier responses close Date by which the suppliers must submit their responses to the sourcing activity.
    Short description Brief of the sourcing event.
    Description Details of the sourcing event.
    Summary
    Negotiation type Type of sourcing event or the method used to engage with the supplier.

    For example, you can initiate a contract renewal or ask for a quote.
    Negotiation outcome Anticipated outcome or end results of the sourcing event.

    For example, you can negotiate contract terms or standard savings on a purchase.
    Expected start Expected start date of the sourcing event.
    Actual start Actual start date of the sourcing event.
    Actual end Actual end date of the sourcing event.
    Duration Duration of the sourcing event.
    Negotiation objectives Objectives or goals for the sourcing event.
    Close notes Notes on closure of the sourcing event, if any.
    The following are the related lists of a sourcing event:
    Table 2. Sourcing event related lists
    Related list Description
    Sourcing Requests View all the sourcing requests that are mapped to this sourcing event.

    For details, see Sourcing request.
    Negotiations View all the negotiations with each supplier that are mapped to this sourcing event.

    For details, see Negotiations.
    Purchase Lines View and track all the purchase line records within the parent purchase for the suppliers referenced on the sourcing event.

    For details, see Purchase lines.
    Purchasing Tasks View information on all the purchasing tasks that are related to the sourcing event.

    For details, see Purchasing tasks and procurement cases.
    Cases View information on all the cases that are related to the negotiation event.
    Draft Contracts View and track all the draft contracts for the suppliers referenced on the sourcing event.

    For more details, see Contracts.
    Signed Contracts View and track all the signed contracts for the suppliers referenced on the sourcing event.
    Other Legal Documents View and track all the other legal documents for the suppliers referenced on the sourcing event.
    Contract Requests Displays all the associated contract requests against this sourcing event.
    Note:
    This field is displayed only if you have the Source-to-Pay Operations with Contract Management Pro plugin (com.snc.sn_spend_clm) installed.
    Purchase SLAs View all the purchase SLAs associated to purchasing tasks against the sourcing event, along with tasks associated to the underlying purchase requisition lines.
    Purchase Requisitions View information on all the purchase requisitions that are related to the sourcing event.

    For more details, see Purchase requisition.
    Draft Emails Associated email communication that is saved as drafts.
    Sent Emails Associated email communication that has been sent.

    Sourcing event workflow

    Sourcing event workflow

    The default states that are available for a sourcing event are listed.
    • Draft
    • Planned
    • Work in Progress
    • Pricing Obtained
    • Awaiting Task Completion
    • Requires Decision
    • Closed Complete
    • Closed No Decision
    • Closed Canceled