Strategic Sourcing Center Of Excellence And The New Procurement
The role of the traditional strategic sourcing and procurement department is changing.
A recent study from the Aberdeen Group plotted CPO priorities for the future, and strategic sourcing was last on the list, behind initiatives like “aligning procurement to organizational objectives” and “category management”. As companies move from reactive, tactical cost savings strategies to more proactive, directed measures to steer their organization towards best value solutions, strategic sourcing and procurement departments are seeing their traditional roles increased and new duties added as sourcing becomes critical to all projects from their inception. These teams can no longer be just strategic sourcing and procurement departments; they must become Strategic Sourcing Centers of Excellence.
A Center of Excellence itself, Source One understands that departments transform into Strategic Sourcing Center of Excellence only by mastering a series of interdependent silos, including category management, supplier management, strategic sourcing, and project management. Source One has the experience and expertise with each of these silos to assist your procurement department’s transformation into a Strategic Sourcing Center of Excellence and has the manpower and flexibility to serve as your organization’s outsourced Strategic Sourcing Center of Excellence.
Below are some of the key components in each silo that contribute to the best-in-class performance of Source One as a Strategic Sourcing Center of Excellence:
- Market Intelligence
- Capabilities Review
- Risk Assessment
- Enhancing Supplier Value
- Supply Base Rationalization
- Template Building
- Streamline Process
- Proactive Sourcing
- Metrics Reporting
- Tracking Costs
- Validating Change Orders
- Addressing Servicing Issues
As strategic sourcing and procurement departments become more central to their organization’s daily operations, it’s important that they move to become Centers of Excellence. Source One offers the tools and skills needed to supplement supply chain during its transformation or to stand in as an outsourced Supply Chain Center of Excellence.