Source One's series for keeping up with the most recent highlights in procurement, strategic sourcing, and supply chain news week-to-week. Check in with us every Monday to stay up to date with the latest supply management articles.
Looking back on the year in Procurement and Strategic Sourcing, Berezowsky predicts the dinner table conversations of industry professionals. She suggests that discussions may have focused on topics like balancing cost savings with cost avoidance and properly leveraging millennial talent. Like any impassioned Thanksgiving discussion, these are sure to continue throughout the rest of 2017 and well into the new year.
Michael Lamoureux AKA The Sourcing Doctor, Sourcing Innovation, 11/23/2017
Markets often shift at a moment's notice. For the Procurement and Strategic Sourcing professional, this could mean facing serious losses if an RFX event continues unchanged. Organizations need to develop methods for quickly putting events on hold and implementing more effective replacements. This could make the difference between huge gains and huge losses for your Procurement team.
Arslanian shares key takeaways from the Hackett Group's latest report. Titled 'Are Strategic Sourcing Resources Providing the Best Return?', it examines strategies for optimal work selection and prioritization. Organizations, the study suggests, need to ask themselves if going to market is always the most efficient way to produce savings. This is especially true when achieved savings are repeatedly less than expected savings. The study provides a number of other recommendations for resource allocation that should help maximize ROI.