In our daily lives, we consider ourselves as experts when it comes to “sourcing” low-cost deals in our weekly grocery shopping from the supermarket or grabbing a great deal during Black Friday sale online. Similarly, some of the procurement teams insist on settling for the lower cost of the product/service to be sourced without realizing the TCO (Total Cost of Ownership) for the sourced product/service. Thus, with procurement changing from a mere tactical function to a strategic one, there has been quite a lot of buzz for “Strategic Sourcing” which focuses on Total Cost of Ownership (TCO) incorporating customer needs, organizational goals, and market conditions and thus addresses all available options for savings.
In fact, according to an Aberdeen report, 68% of their survey respondents say that strategic sourcing plays a crucial role in their organization. While 53% of respondents stated that aligning sourcing activities and objectives, with those of the greater organization is a top strategic goal. The above statistics indicate the increasing role strategic sourcing plays in an organization.
Register to attend this session to know the what, why and how of strategic sourcing along with a detailed demonstration of Zycus’ Strategic Sourcing Suite and how it is helpful in strategizing, managing and achieving sustainable savings management.
Attend this live demonstration to learn how Zycus’ Strategic Sourcing Suite can help you to:
Manager, Solutions Consulting