Leading Spend Managers Recognized for Cost Reduction and Route Optimization Efforts
Willow Grove, PA (June 25, 2019) – For the thirteenth year, Supply and Demand Chain Executive will recognize Source One and its team of Procurement experts with a spot on the SDCE 100. The annual list commemorates the consultants and practitioners behind the year’s most innovative and impactful supply chain initiatives. Together, these organizations provide an example of spend management excellence in an evolving global economy.
This year, Source One is recognized for empowering a specialty logistics carrier to execute a comprehensive Procurement Transformation.
Prior to engaging Source One’s logistics category specialists, the carrier had permitted stakeholders at the site level to select their own air freight suppliers. As a result, it had historically failed to establish strategic partnerships and leverage its combined spend. Facing new competitors in its niche, the carrier was particularly eager to consolidate its fragmented supplier network, drive down costs, and begin realizing soft cost benefits.
Armed with a cutting-edge eSourcing tool, Source One assessed more than half a million rows of historical lane data, identified partners capable of providing highly-specialized services, and carried out negotiations. Ultimately, Source One secured savings of 25% throughout the air freight category.
“We were happy with these savings results,” remarks Source One Director Jennifer Ulrich, “but they hardly tell the full story. At the end of this engagement, our Procurement optimization team offered the client a Contract Negotiations playbook. Providing a wealth of insights and best practices, it should help them enter future negotiations with more confidence and build long-lasting, mutually beneficial partnerships for generations to come.”
SDCE’s announcement comes half-way through what has already proven an exciting year for Source One’s Procurement Transformation team. The supply management experts are currently publishing a five-part series on optimizing Procurement’s essential pillars. They have already shared their guides for talent management, process improvement, and metrics. Future installments of Building an Effective Procurement Organization will address both the technology landscape and the evolving nature of the function’s role.