Since 1992, the consultants at Source One have spearheaded the ongoing evolution of Strategic Sourcing and Procurement.
Source One’s entire spend management consultant team promotes the strategic evolution of strategic sourcing and procurement. They were founded on the idea that Procurement teams can and should drive company-wide supply management strategy.
In 1992, Procurement consultancy Source One Management Services was founded to close a gap in how Procurement teams operated. Relying on outdated, reactive processes most purchasing teams failed to reach their full potential. In those days, even professionals with ‘strategic’ in their titles were rarely practicing anything like Strategic Sourcing.
Source One’s Procurement team set out to act as an advocate for buying professionals, to help procurement groups not only reach their savings target’s through customized cost reduction strategies, but also optimize internal spend management processes and practices for sustainable results.
When Source One entered the Procurement consulting space, most purchasing departments occupied obscure positions within their companies. Narrowly focused and purely tactical tasks, they fueled misconceptions about Procurement’s value. Our Procurement optimization team was often responsible for explaining the very idea of Strategic Sourcing.
- Procurement professionals made purchasing decisions in a largely tactical, reactive fashion.
- Duties for Procurement were often limited to processing POs and managing inventory.
- A Procurement team’s goal was to identify the supplier offering the lowest possible price.
- The ‘three bid and buy’ process was about as strategic as Procurement got.
- Companies kept Procurement locked in inefficient relationships with preferred suppliers.
- Other departments resented Procurement and associated it with little more than budget-slashing.
Our purchasing consultants set about revealing the value-adding potential of more mature Procurement teams and introduced our clients to the principles and practices of Strategic Sourcing. Together, they worked to introduce new procedures, communicate Procurement’s potential, and restructure the department for maximum innovation and influence. Our clients now enjoy the benefit of more nuanced, proactive purchasing units.
- Strategic Procurement professionals make purchasing decisions with long-term value in mind.
- Procurement teams proactively assess the market to inform their policies with cross-industry best practices.
- Suppliers become true strategic partners as Procurement looks for much more than cost reduction.
- Procurement oversees every step of the sourcing process including research, negotiations, and implementation.
- The goal of Procurement’s efforts include improved contract terms, service levels, and internal processes.
- Procurement departments reveal their true strategic value and encourage collaboration across companies.
Procurement’s Next Era
As more organizations realize the value of Strategic Sourcing, Procurement departments promise to grow increasingly essential and evolve into change-driving business partners. Whatever the next generation of Procurement looks like, count on Source One’s expert team to lead the way.
Contact the Team that Drives Procurement’s Evolution
Procurement Evolution and Advancement
The Procurement consultants at Source One empower our clients to abandon their tactical sourcing practices and enter Procurement’s modern era. We were founded on the idea that Procurement should serve as a strategic partners within organizations and produce value beyond cost savings. Whatever stage your Procurement team has reached in its strategic evolution, we’re prepared to optimize your operations and help you achieve world-class status.
Procurement Maturity Assessment
Trust the Procurement experts at Source One to assess your team’s people and processes to identify opportunities for improvement as well as strengths to leverage. We’ll offer recommendations for optimizing your Procurement team and provide the consultation necessary to see these changes through. We’ve helped countless clients better understand their Procurement team’s capabilities and prepare themselves for Procurement’s future.
Assessing Procurement’s Maturity
Procurement Transformation Advisory
Source One’s Strategic Sourcing specialists know what it takes to develop an efficient and effective Procurement function. We’ll leverage our years of experience and subject matter expertise to assess your Procurement team’s current structure and operations. Working alongside your internal team, we’ll help align Procurement’s people, processes, tools, and technologies to produce the maximum possible value.
Transform and Evolve Procurement
Procurement Training Programs
Seeing a Procurement transformation initiative through means preparing your internal team to develop the skillsets necessary for long-term strategic value. Source One’s Procurement training experts excel at nurturing these skills. They’ll not only construct training modules, but ensure these programs produce long-lasting results and evolve as Procurement’s role evolves within your company
Training for Procurement Teams
Category Management Support
The increasing popularity of Strategic Sourcing does not mean Procurement’s evolution is over. For purchasing teams to continue growing more strategic and essential, they need to increase their knowledge of critical spend categories and better engage stakeholders within these categories. A strong category management plan will enable Procurement to involve itself in all business areas and accept it’s rightful leadership role.
Category Management for Procurement