December 15, 2017

Here's a look at where Source One's cost reduction experts have been featured this week!

New Whitepaper: 

5 Pro Tips for Impactful Procurement
Source One's Procurement and Strategic Sourcing specialists have executed thousands of successful initiatives over the last 25 years. Looking back on their success, they offer 5 pro tips for maximizing Procurement's performance and aligning it to meet enterprise-wide goals.  There's obviously no one-size-fits-all approach to Procurement.  Companies of any size, however, should find this whitepaper's advice a great starting point.

Recent Blog:

Net Neutrality & Vendor Selection Criteria
Kevin Fraser, Next Level Purchasing, 12/13/2017
Net Neutrality is back in the news.  The FCC's recent vote to reduce economic regulations will affect every internet user, but IT and Telcom sourcing professionals should feel an even greater impact.  Telecom's newfound freedom could have major repercussions for supplier relationships within the category.  For example, a provider might reduce data speeds for clients who fail to utilize their preferred technological platforms.  We can only deal in hypotheticals for now, but Procurement professionals should seriously consider the ways their vendor selection criteria might change in the near future.

New Podcasts:

Optimizing Facilities Management Spend - Part 1 (Data Collection) 
Regardless of category, successful sourcing initiatives start with the development of an accurate baseline.  Data collection is an all-important process.  Without it, Procurement teams can't hope to develop strategies for going to market or managing spend.  Source One's Jennifer Ulrich and Nick Harasymczuk stop by the Source One podcast to discuss collecting and cleansing data in the highly-complex Facilities Management category.  

Bridging the Gap Between IT and Procurement 
Though Procurement's influence continues to evolve, many departments are still considered off-limits.  Historically, IT has been a particularly difficult department for Procurement to engage with.  Strategic Sourcing expert Torey Guingrich joins the Source One Podcast to discuss strategies for eliminating the barriers between IT and Procurement.  The key, she suggests, is for Procurement to prove its value and refute any misconceptions IT might have.  Once perceived as a cost-cutting adversary, Procurement can now function as a strategic decision support unit.

5 Essential Procurement Metrics
Many companies lack even basic methods for measuring Procurement's performance.  By keeping themselves in the dark, organizations could miss out on opportunities to optimize their Procurement function.  Procurement and Strategic Sourcing analyst Jennifer Engel offers 5 simple metrics for companies looking to start assessing the department.  Ranging from cost savings to spend under contract, they'll provide the foundation for a thorough evaluation of Procurement's impact.  They'll also pave the way for more sophisticated analyses in the future.

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