Supply & Demand Chain Executive
May, 2009
"Five Tips for Driving a Successful Sourcing Process"
By Christopher Stacy
Christopher Stacy discusses the importance of a partnership approach with sourcing and how this approach can drive a procurement department’s value and reputation higher.
“Far too often, procurement organizations have a reputation among their constituent business units as a low-value control function that exists for two purposes – cost reduction and policy enforcement. This narrow perspective often creates dubious working relationships and, moreover, marginalizes Procurement's value to the broader organization. So how can Procurement change this perception? The department should proactively study the business units it serves as well as work to help them understand the value Procurement provides – particularly through its most "leverageable" service, strategic sourcing.” Christopher also presents five best practices for driving a successful sourcing process:
Understand Your Internal Customer
Bring More Than A Process – Understand What You’re Buying
Pace Harmon’s insights regarding technology trends, complex transactions, and supplier management issues are frequently quoted in leading industry journals.
