Strategic sourcing, for as long as this function has been in place, has been established as a valued set of processes for companies looking to drive savings out of their purchasing activities. As organizations see the current state of strategic sourcing as a high-value component of overall spend management activities, companies will increasingly look to link sourcing activity with the objectives of the greater organization.
The report discusses the intentions, performance and strategies of over 315 companies globally, as they continue in their pursuits to leverage strategic sourcing activities to drive higher and better procurement performance
Aberdeen used three key performance criteria to distinguish Best-in-Class performance:
- Spend under the management of the procurement group,
- Procurement contract compliance,
- Realized / implemented cost savings