Zycus Inc. Contact Details:
Main address: 103 Carnegie Center, Suite 201 08540 Princeton, New Jersey, USA
Tel:+1 866-563-9219, E-mail: information@zycus.com LinkedIn Facebook Twitter Google+

The Why, What & How of Strategic Sourcing: Part 2 – Driving Forces

By Roshnee
In Procurement Technology
Nov 26th, 2013
0 Comments
5294 Views

In the second part, we will delve upon the factors driving the need for sourcing automation. To read part of this blog series, click here.

Driving Forces

Image credit: ralphbijker, Flickr

The top pressure that organizations have been continually facing is the corporate mandate to reduce cost and increase savings. As pointed out by the Aberdeen study, in 2011 60% agreed to cost reduction and increased savings being the biggest challenge. This sentiment was further echoed by 69% in 2012 and 72% in 2013.

The other driving forces for automation in strategic sourcing are;

  • Need for better category management strategies
  • Rising sourcing risk due to supplier performance, fluctuating currency rates, supply chain disruption etc.
  • Increasing complexity in supply chain due to outsourcing, globalization etc.
  • Legal obligations to make the supply chain transparent
  • Need for better visibility into sourcing-related data

In our next blog, we will talk about the common hurdles in achieving smooth eSourcing process.

To read further, click on the download below to access the whitepaper, The Why, What and How of Strategic Sourcing.

Download Whitepaper

 

  •  
  •  
  •  
  •  
  •  
  •  

About "" Has 160 Posts

Roshnee works with the content leadership team of Zycus. She regularly writes on procurement - trends and best practices, sometimes taking the off beat path to bring in a fresh perspective. She also drives the branding activities of her company. In her free time she enjoys hot cuppa coffee with the latest fiction book. She is an MBA in Marketing and a graduate in commerce.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please solve this * Time limit is exhausted. Please reload the CAPTCHA.