The Sourcing Assessment and Decisioning webex on Wednesday May 24th is an opportunity to discuss the often overlooked phases of the Sourcing journey. Similar to any successful System Design Life Cycle, the Sourcing Strategy SDLC must begin with a clear understanding of the company’s business plan, both tactical and strategic.
Next is a clear understanding of the reason or objective for sourcing. Cost savings; Improved systems and technology; New or expanded capability; Enhanced talent; Business optimization. A definitive position from Legal and Compliance on restrictions and requirements related to the data, process and jurisdiction(s) will help ensure the accuracy of the business case and cost benefit analysis.
Developing a new Sourcing Strategy or enhancing the current program requires a thorough review of your company’s Third Party Relationship Management, Contract Management, Risk and Governance programs from the perspective not having direct hands on control of the process to be sourced.
As you can see, there is much more to building an effective and efficient Sourcing program than What to Source?, Where to Source? and Who to Source it To?
We are confident that with SIG member participation, this first webex will set the stage for a very successful Working Council on a very critical topic.