The Case for Strategic Sourcing Throughout the Product Lifecycle
Source One’s Direct Materials Spend Management Experts Present the Business Case for Strategic Sourcing Throughout the Product Lifecycle in New Whitepaper
Willow Grove, PA, February 6, 2017 – Direct Materials cost reduction experts from premier procurement services firm, Source One Management Services, deliver a new white paper outlining the business case for leveraging Strategic Sourcing and Procurement’s throughout the product lifecycle titled, Strategic Sourcing Throughout the Product Lifecycle: Balancing Competitive Costs with Innovation & Speed to Market. The new white paper calls upon Source One’s decades of experience helping Fortune 1000 companies implement strategic sourcing initiatives to achieve savings on their direct materials without sacrificing quality or service levels.
In continuing Source One’s efforts to showcase the strategic value Sourcing and Procurement groups deliver their overall organization, the procurement services firm’s new whitepaper explores how Strategic Sourcing and Procurement (SS&P) and Engineering teams can collaborate throughout the product lifecycle to ultimately improve speed-to-market, adhere to cost targets, and promote innovation. In Strategic Sourcing Throughout the Product Lifecycle Source One’s raw materials sourcing consultants call upon their experience leading cost reduction initiatives for leading companies, comparing the traditional approach of engaging SS&P groups later in the Product Lifecycle to the value and opportunity of a more proactive model.
“The concept for the whitepaper stems really stems from the best practices we work to instill within our clients’ supply management operations, that is proactively leveraging Strategic Sourcing and Procurement departments as a strategic business partner,” explains Direct Material Sourcing Consultant and whitepaper contributor, Martin Przeworski. “We often see that SS&P groups are brought in late in the product lifecycle when there is an immediate need to cut costs. This usually stems from belief that SS&P will act as an obstacle to securing the high quality raw materials the engineering team wants. The reality is, involving SS&P throughout the product lifecycle provides significant value at each stage, not only from a cost perspective but also in gaining a full view of the market landscape and tapping supplier innovation.”
The whitepaper, which breaks down the Product Lifecycle into five parts: Market Need, Product Design, Manufacturing, After Sales Service, and Product end of Life, is reinforced with real life case study examples of how Source One’s raw materials sourcing consultants have driven additional value through their involvement at each stage in the lifecycle. The case studies provide further evidence of how best-in-class companies are benefiting as their SS&P groups gain strategic positioning within their organizations.
A hotly discussed topic, driving value from Strategic Sourcing and Procurement beyond cost savings is one of the many themes to be covered during the Institute for Supply Management’s Annual Conference, taking place this May in Orlando, FL. Source One will return to the premier industry event as featured speakers and exclusive sponsors of the executive-only ISM sub-conference Exec IN. Members of the Source One cost reduction team are looking forward to networking with other procurement leaders, as well as the opportunity to share supply management best practices and industry insights as panel members and speakers.
Corcentric is a global provider of business spend management and revenue management software and services for mid-market and Fortune 1000 businesses. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.