Event list
With an economy that is sluggish in its recovery at best and political uncertainty adding to the gloom of the market, a lot of companies are looking at transforming their indirect procurement as a means to achieving savings targets. This is an area that has tremendous potential and CFOs and CPOs are eager to move in this direction. But the big question that confronts them is, how do they implement and run this program? Their existing teams are pulled into transactional and operational issues so often, that they can’t focus on the strategic sourcing initiatives and negotiations that are crucial to generating savings. Outsourcing a function as crucial as sourcing to another company that may not understand the culture of their organization, can alienate internal stakeholders to a point that they will not buy into the program. Getting temporary staff to augment the current workforce can only be a short term fix to the problem. Is there a way by which a company can leverage the expertise of a world class provider of sourcing expertise, while keeping enough control over the process and drivers for savings, so that it fits with their internal culture and doesn’t seem ‘outsourced’? The answer to that question is ‘Collaborative Sourcing’ or ‘Co-Sourcing’ – a model that enables and promotes collaboration in the delivery of services, a commercial arrangement where risk and benefits are shared, and a governance structure that aligns the goals of the provider with those of the organization.