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This section is provided by Source One Management Services, LLC to assist in the eduction and advancement of procurement strategies and best practices. Check back often to see our latest research reports, or subscribe to our newsletter to keep current with any changes.
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Procurement Outsourcing, a Strategic Imperative:
Recent Aberdeen research, sponsored by Source One, reports that regardless of the choice to outsource procurement procesesses entirely or incrementally, companies have reported increase spend visibility, reduced spend, and improved service levels as a direct result of procurement outsourcing.
Procurement Outsourcing: A Strategic Imperative?
Advanced Strategic Sourcing and Supplier Engagement:
Having a structured procurement process provides a framework that can produce sustainable savings in most procurement initiatives. However, creativity is critical in the application of the strategic sourcing process and will have dramatic effects on the results achieved.
A Creative Approach to Advanced Strategic Sourcing and Supplier Engagement.
Strategic Sourcing in the Mid-Market Benchmark:
Most mid-size enterprises lack disciplined sourcing practices, category expertise, and spending power to negotiate and maintain competitive supply chains, according to a new Aberdeen Group benchmark report, Strategic Sourcing in the Mid-Market Benchmark: The Echo Boom in Supply Management. Aberdeen estimates that such deficiencies are costing mid-size firms in the U.S. $134 billion a year in missed supply savings opportunities.
Click here to read the mid-market strategic sourcing report.
CFO View of Procurement:
CFOs have acknowledged the increased influence of procurement and see it as a growing contributor to corporate competitiveness. Initiatives that directly manage supply availability, transportation/logistics costs and escalating commodity prices are areas where procurement should play a leading role.
Click here to download a PDF of the Aberdeen report.
What is a Procurement Service Provider?
The use of Procurement Service Providers is rapidly increasing due to increased awareness of the supply chain and changing global market conditions. Businesses have an increasing need to maintain and reduce costs without eliminating or adding resources. Procurement Service Providers may be contracted with to increase or supplement internal resources while keeping costs low.
