As Strategic Sourcing professionals we were all taught that Savings was our most important metric. Organizations that have not yet reached the Value Creating / Category Management level of maturity are most likely STILL mostly measuring and reporting price/cost savings. By doing this, you are perpetuating the notion…
Negotiating is something we do EVERY day. Professionally, you may negotiate with a potential supplier or a key stakeholder or your employees or your executives. Personally, you may negotiate with a realtor or a car dealer or your partner or your children. Both types of negotiation have similar…
Preparing a spend analysis, doing supply market research, determining your sourcing strategy, developing / executing a negotiation strategy, writing a contract, putting a new supplier place – these are the basic steps associated with Strategic Sourcing. These steps can be found in any standard sourcing process whether it…
Decision Making is a key strategic competency that all professionals should have. Unfortunately, it is not often identified as such and very little training is provided. It is often assumed that by the time you get to a certain level, you are a good decision maker. But there…
The Strategic Sourcing process that we all know and love today was actually started in the early 1990’s in the auto industry. The inefficiencies in the buying processes including lack of standardization, too many suppliers, too much inventory, etc. led to numerous changes that resulted in the way…
