Strategic sourcing is a highly focused, organized and targeted approach to leveraging an organization's expenditures to create savings and procurement efficiencies. A strategic sourcing engagement yields detailed data regarding product/service pricing, contract terms, and service level agreements. The end result of the Strategic Sourcing process is a negotiated contract with a preferred provider.
Two (2) key elements to the PM&A methodology is in the organization and collaboration effort:
Organized since there is a model or process that provides a step by step system for achieving results.
Collaborative in that strategic sourcing must include participation, input, and buy-in from operational and functional groups throughout the corporate enterprise.
PM&A utilizes a rigorous and proven strategic sourcing methodology. This approach allows PM&A to gain a significant and detailed understanding of the current operations, processes and contracts upon which we customize our sourcing methodology. Not only does this help to create and foster greater internal support for the initiative, but it helps to drive compliance with the initiative once the program has been transitioned back to the client.
Please contact PM&A for more information on how we may assist your procurement organization through strategic sourcing.