A breakdown of what it takes to be a sourcing professional who brings advantage to the larger organization
By Cyndi Joiner
During the past 10 years companies of all sizes have realized substantial savings through applying the principles of third-party relationships and/or strategic sourcing. Strategic sourcing comes in all shapes and sizes, whether an organization subscribes to an incumbent strategy that provides for direct negotiations with the current provider, an aggressive sourcing strategy or a hybrid strategy. However, the principle is the same: Strategic sourcing is a methodology used to assess sourcing requirements across the enterprise while identifying opportunities, both internal and external, for total cost reductions, improved third-party relationships and to create a competitive advantage for the corporation.