Strategic sourcing: A disciplined approach to supply market analysis that continuously improves and re-evaluates the purchasing activities of an organization. Strategic sourcing provides the best possible values in the marketplace to produce sustainable savings and reduce cycle times. Sourcing optimization starts from a diverse strategic perspective and usually takes the form of strategic decisions. It is important to identify untapped opportunities to improve vendor access and increase the value of each dollar spent. Drive benefits...
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A primary focus for many procurement organizations in 2019 is finding new sources of value. As most of the quick & easy wins have already been identified, innovative approaches will drive these new value sources. This section of the CPO Rising 2019 report focuses on the role of the Chief Procurement Officer. It dives into the level of engagement and alignment they have today, as well as the key drivers and challenges that have shaped,...
“What will the future look like?” has become the question of 2020. At this year’s OESA Automotive Supplier Conference, industry experts and senior automotive executives joined virtually to discuss how the industry will continue as it settles into a new norm and focuses on the future once again. Following the event’s theme of “Journey Back to the Future,” the 3-day conference consisted of a variety of conversations that included the industry impact of the coronavirus,...