Getting the Most from Strategic Sourcing will demonstrate the reasons why many strategic sourcing initiatives fail or do not realize the full savings projections that are identified during the sourcing process. The webinar will include how to set proper cost savings expectations with finance, the c-suite, and other interested parties, including providing a clear definition of savings and tying accomplishments back to the cost center. The presentation will explain the gap between procurement’s unit cost saving projections and finance’s budgetary reporting. By the end of the presentation, participants will understand:
- Why a generic three-bid sourcing process is unlikely to drive significant savings.
- The different ways to measure savings – including unit cost reduction, discount enhancement, tracking savings for index-based commodities, and even identifying the impact procurement can have on items that have never been purchased before.
- The distinction between hard-dollar and soft-cost savings.
- How to effectively track, measure, and report savings to demonstrate procurement’s value to the entire organization.
- How compliance and lost savings reports help ensure savings are obtained.
- This webinar is free to all members of the NLPA and membership in the NLPA itself is free and instant.
This webinar will be given by Joe Payne and William Dorn of Source One Management Services, LLC and hosted by the Next Level Purchasing Association (NLPA) on May 22, 2012 at 11:30 a.m. EST.
To register for Getting the Most from Strategic Sourcing:
If you're already an NLPA member: Log in to the members' area at
http://www.NextLevelPurchasing.com/login.html and navigate to the "Webinars" tab. There you'll find a registration link, be sure to enter a valid email address as attendance details will be sent to you by email.
If you're not yet an NLPA member: Sign up for your free membership in the Next Level Purchasing Association at http://www.NextLevelPurchasing.com/procurement-association.php. After doing so, you'll receive an email with information about how to log in. After logging in, navigate to the "Webinars" tab. There you'll find a registration link, be sure to enter a valid email address as attendance details will be sent to you by email.