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3 Networking Tips to Help Sourcing Make a Bigger Impact

“Networking is my favorite hobby,” said no one ever. That being said, it’s also no secret that networking as a skill set pays off in myriad ways. With the right approach, you can take the dreaded “work” out of networking and leverage this valuable tactic to your benefit. Networking and Relationship-Building Go Hand in Hand… read more

In Parallel: Sales and Sourcing

Sales and sourcing: Besides being alliteratively pleasing to the ear, they’re also the perfect power couple. Not convinced? Consider this quote from Harvard Business Review’s recent research paper: One idea that may be particularly powerful for sourcing and procurement leaders who are building the business case for technology improvement is the parallel between sourcing and… read more

Procurement’s Rank in Digital Transformation

Take a look at the use of digital technologies across the enterprise: A few things jump out. Enterprises prioritize spend for digital technologies that: Improving customer-facing touchpoints and experiences Increasing agility Better utilization of assets Meanwhile, noncustomer-facing operations (including procurement) fall all the way to the bottom of the list in the fourth quartile. But… read more

Six Steps to Stakeholder Advocates

It’s no secret that high-performance sourcing and procurement teams drive bottom-line business impact that benefits the entire enterprise. However, many organizations are still stuck in the rut of purely tactical procurement. While the sourcing and procurement is certainly poised to expertly negotiate a deal, the team is capable of bringing so much more to the enterprise. So,… read more

Key Benefits of Strategic Sourcing

In its new research paper, Harvard Business Review notes that today’s sourcing and procurement function has come a long way from its original back-office and tactical operating focus. Once almost exclusively concentrated on driving down costs and executing the nuts and bolts of contracts, high-performing sourcing and procurement teams now have the opportunity to manage… read more

You Shall Not Pass: Barriers to Digital Transformation

If you’ve ever tried to spearhead digital transformation and experienced this… …you’re not alone. Digital transformation – or lack thereof – remains a persistent problem for sourcing and procurement teams in enterprises of all sizes. A recent Harvard Business Review Analytic Services survey of 376 senior executives, for example, found that many companies are making… read more

The Dollars and Sense of Strategic Sourcing

Everyone knows that strategic sourcing pays off — but it may surprise you just how big that payoff is. In a recent study, Accenture found that a typical procurement organization’s operating cost is approximately 0.8 percent of the company’s overall spending. In industries where company spend is concentrated in fewer categories, the cost of procurement can be as low as 0.5… read more

Driving Innovation: Harvard Business Review Research Paper

Sourcing and procurement can offer a fresh and different perspective—asking hard questions and driving a competitive environment.      – Neil Aronson, Head of Global Strategic Sourcing at Uber As Neil’s quote attests to, today’s high-performing procurement teams have evolved into an essential contributor to enterprise success. In its new research paper, Harvard Business Review… read more