Supply Excellence — For Better Results, Make Sourcing a Company-Wide Effort

For Better Results, Make Sourcing a Company-Wide Effort

May 7th, 2006 · by Tim Minahan · No Comments · Supply Management 2.0 Forum, supply management

London also afforded me time with Claire Forester, a supply management executive at Reuters. Having used online sourcing tools since 2003, Reuters’ supply management team has recorded the best results when involving other internal stakeholders heavily in the sourcing process.

“The [internal] customer feels more empowered when you involve them in the design and weighting of the initial RFP,” said Claire. Her team also involves key stakeholders in the bid analysis and vendor selection and award. “Involving them in the decision-making process makes it much easier to implement the final decision and agreement.”

Reuters’ experiences reaffirms my previous research findings, which tracked a direct correlation between the early and frequent involvement of internal functions and contract compliance rates. Advances in sourcing project management, collaboration and surveying, and analytics tools are helping extend sourcing — and supply management – to the frontlines of the enterprise.

Stay tuned for more on this trend from the ISM Conference in Minneapolis.

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