The Four Pillars of Strategic Sourcing
What are best-in-class sourcing organizations doing to maintain their competitive edge?
All organizations need to be deliberate and focused on their sourcing activities to succeed today and in the years ahead. Based on research, investment made to extend and/or automate the strategic sourcing process can yield significant and long-lasting benefits.
According to Ardent Partners there are “four pillars” of the modern strategic sourcing program that are critical drivers for success (spend analysis, sourcing, contracts and supplier management). Automating and integrating these four pillars serves global sourcing and procurement organizations significantly better than if they tried managing processes manually or in an ad-hoc manner.
The key to success is effective collaboration, strong communication and execution, which bind the four pillars together, and help to extend a sourcing team’s impact throughout the enterprise.
Ardent’s annual State of Strategic Sourcing report examines the pressures and challenges facing sourcing leaders today and presents “four pillars of sourcing success.”
Download the report to learn:
- The CPO’s top challenges and drivers for sourcing success
- Strategies and capabilities of best-in-class sourcing teams
- Sourcing metrics for applying to your own strategic sourcing efforts
- Strategic sourcing technology trends and usageSourcing automation, adoption and performance: How do maturity classes compare?
Examples of the benefits of managing the four pillars holistically abound. Download this research to learn more about Best-in-Class competencies for sourcing functions and the trends that are shaping strategic sourcing today.
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Questions? Contact us at +1.877.806.1932
Ardent Partners is a research and advisory firm focused on defining and advancing the supply management strategies, processes, and technologies that drive business value and accelerate organizational transformation within the enterprise.
Determine, Inc. (NASDAQ: DTRM) is a leading global provider of SaaS Source to Pay and Enterprise Contract Lifecycle Management (ECLM) solutions. Our visionary technologies allow our customers to effectively manage the full scope of Source to Pay and ECLM using our Determine Cloud Platform. Our Source to Pay software suite includes strategic sourcing, supplier management, contract management and procure-to-pay applications.
The Determine Cloud Platform gives procurement, finance and legal professionals the ability to deliver profound insights through analysis of their supplier relationships and contractual requirements. Our customers leverage the Determine Cloud Platform to discover previously unseen supplier and spend data; make more informed and smarter business decisions; drive new revenue; control costs; improve workflow efficiencies; and mitigate risk.
Our customers benefit from the Determine Cloud Platform’s robust suite of integrated applications. Whether they start with a full-suite implementation or choose to implement just one application and build over time, each additional application allows for the automatic sharing of data already in place on the Determine Cloud Platform.