strategic procurement: high-definition sourcing
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Strategic Procurement: High-Definition SourcingTRANSCRIPT
High-Definition Sourcing
Teach your marketing team about what goes into your product or service
It’s more about your company’s customers and what is important to them
Price
Make sure that your sales and marketing teams understand what you know about your suppliers so that they can sell your products at a premium price to their customers.
Volume
Teach your sales teams the techniques used by yourbest suppliers
You’ll want to learn about the markets that you aren’t currently serving
You can help boost your company’s revenue by sharing what you’ve learned with your sales staff. Sit down and review with them the sales proposals and tactics of your suppliers, comparing and contrasting the best techniques with the worst.
Variable
• Supplier Performance Management – Teach your suppliers about how you make money
• Work to learn and implement technologies that could reduce your variable costs
Give suppliers the best chance at generating savings while making money, teach them all about your business and how they fit intothe overall value chain.
Fixed
Spend Analysis – Teach your organization about where it spends money
Discover and understand your organization’s bottlenecks
Take time to understand what prevents your organization from growing at afaster rate. When you identify the bottlenecks, research if there are any opportunities to make investments to alleviate the effect of the bottlenecks.
Risk
High-Definition Sourcing – Teach your finance team about your supply price uncertainties
Learn about the futures markets for your key inputs
Take time to review your key inputsand put together an overview of the probability distribution of prices during the upcoming one to three years.
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