The Hackett Group: Addressing the Maturity Gaps in Procurement
Learn how best-in-class organizations optimize strategic sourcing by integrating time-tested models with technology and services to improve tactical spend.
What the webinar covers:
According to the Hackett Group, as many as 75% of procurement organizations have difficulty addressing unplanned sourcing events. This challenge is often attributable to a lack of skilled resources and mature processes to manage against unexpected sourcing timelines needed to source both tactical and strategic categories. Perhaps the latest experiences with the COVID-19 pandemic have illustrated the importance of this, where demand spikes in sourcing indirect spend categories like PPE and temperature scanners have become essential to business operations.
Today, more than ever, understanding your procurement organization’s maturity is essential to improving sourcing effectiveness and efficiency. Using tactics like engaging outside sourcing support or category experts and leveraging indirect Group Purchasing Organization (GPO) programs can dramatically improve realized savings for tactical sourcing and tail-spend. When done right, business results point to an enhanced focus on higher-value sourcing activities, while improving indirect spend cost reductions and wider stakeholder satisfaction.
Watch Corcentric’s recent discussion with leading experts from the Hackett Group to learn how best-in-class organizations are optimizing strategic sourcing activities by finding ways to best integrate time-tested models with technology and services to improve tactical spend.
What you will learn:
- The challenges strategic sourcing faces for tactical and tail-spend management
- Ways to speed-to-savings and ROI for sourcing and technology projects
- How to improve tail spend reduction with targeted and integrated GPO programs