Strategic Sourcing
The 2010 Guide to Driving Savings and Procurement Performance
The strategic sourcing group has faced myriad challenges over the last two decades, including a fluctuating economy and increased expectations to bolster the enterprise bottom-line. However, the last few years have brought about a new, complex challenge: continue to drive procurement performance while finding fresh cost savings within other areas of corporate spending. The Strategic Sourcing benchmark study, measuring the performance, strategies and intentions of over 400 enterprises, is a modern guide for enterprises looking to augment their existing strategic sourcing programs with new techniques to effectively reinforce financial recovery with implemented cost savings.
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By its nature alone, strategic sourcing is a beneficial program in spurring purchasing performance (although nearly 30% of organizations do not have a strategic sourcing program in place); however, there are still a plethora of challenges faced in expressing the potential gains and aligning specific program aspects with the processes of other key internal units. Figure 3 highlights the priority order of the top sourcing challenges identified by nearly 400 survey respondents.
How Demand Metric Can Help
If you need to augment your strategic sourcing program with new techniques to reinforce financial recovery with implemented cost savings, check out the following templates:
Supplier and Vendor Evaluation
Vendor Consolidation Checklist
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