Sourcing Problems in a Slow Economy, Is the Slow Economy Causing Sourcing Problems?
Kathleen Daly, Project Analyst with Source One, discusses creative strategic sourcing and sourcing in a slow economy with Charles Dominick of Next Level Purchasing.
March, 2010, Moon Township, PA
Charles Dominick of Next Level Purchasing recently sat down with Kathleen Daly, of Source One Management Services, and discussed the current challenges that purchasing professionals and sourcing managers are facing as expectations from within their companies continue to rise while resources continue to shrink.
Get the MP3 Now, Right Click and Save As: Sourcing in a Down Economy Podcast
When beginning a strategic sourcing process, the most important question to ask yourself is: “Which approach should I take in engaging suppliers?” Part of the answer depends on what you are trying to source, but the most important fact to keep in mind is that suppliers are also strained these days when it comes to time and resources. Complicated and lengthy RFPs are often ignored if suppliers feel the response will take up too many resources and the chance of winning the business is unlikely.
The goal of any sourcing initiative is to attract the top suppliers and drive competition. This normally delivers the best results in the form of cost reduction. The challenge today is attracting those top suppliers and keeping their interest throughout the entire sourcing process.
Source One offers some guidance to help you overcome this challenge. Listen in on our discussion with Next Level Purchasing as we discuss how to adapt to the recent changes in procurement. Some key questions that are answered are:
- What is the best way to approach suppliers during this slow economy?
- How can I deliver the best results for my organization?
Click HERE to download the podcast for free. An article and a separate blog post both provide an overview of the discussion.
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Source One provides cost savings opportunities for businesses of all sizes. Strategic Sourcing Consulting
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Source One has been successfully driving savings for our clients since 1992. Our Strategic Sourcing Services can be provided on a contingency basis, to eliminate risks and high costs for our clients.
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