Source One Receives Supply and Demand Chain Magazine's Top Honor in 2007
Supply and Demand Chain Magazine has published their annual list of top Procurement Service Providers, and Source One has made the cut again.
For the second year in a row, Source One Management Services, LLC has been awarded the Supply & Demand Chain Executive 100. Source One was recognized for its ability to partner with its clients and jointly develop and implement successful sourcing initiatives.
Willow Grove, PA – July 2007:
Supply & Demand Chain Executive Magazine, a leading supply chain and procurement publication has announced their Annual “Executive 100” list, recognizing the top organizations in the industry.
This year, The 2007 Supply & Demand Chain Executive 100 has been awarded to supply chain solution and service providers that are at the forefront of enabling the 21st century supply chain. Supply & Demand Chain’s goal with the “100” is to highlight a broad range of solutions and services targeted at a variety of industries, addressing the needs of companies of varying sizes, and assisting in the transformation of the diverse mix of the functions that make up the supply chain. Supply & Demand Chain Executive has identified leading providers of supply chain services and technologies who are at the forefront of innovation.
Cost Reduction Case Study:
A large publicly traded educational institution with 37 locations in 17 states was considering creating a centralized sourcing and purchasing department. Previously, sourcing was decentralized and conducted by each location. The company was motivated by the efficiency and economies that could be gained from leveraging their entire corporate spend. After a thorough cost analysis, the executive committee reached a pilot partnership with Source One.
The Pilot Project:
The pilot partnership began with the identification of multiple products and service spends areas including online advertising, telecommunications, and payroll. Several strategies were jointly developed with the suppliers, Source One, and the educational institute. Through the use of Source One’s online sourcing tool, WhyAbe.com, suppliers were identified and requests for proposals and reverse auctions were conducted. The RFPs and Reverse Auctions then led to further discussions, strategies, and negotiations with the suppliers and ultimately produced an average of 20% savings across all categories.
Cost Reduction Results:
The pilot partnership’s success resulted in the company’s appointment of Source One as the strategic sourcing partners for the entire spend of the organization. To date, over 20 categories have been sourced or are actively being sourced. Through the continued use of WhyAbe.com’s Contract Management Repository, the client’s management has centralized instant online access to the entire organization’s active and pending contracts in real-time.