How does Sourcing Interests Group’s semi-annual thought leadership conference continue to attract sourcing leaders from top companies, major sponsors and industry leading speakers year after year?
- Everyone has the capability to be innovative–your suppliers, employees, friends, colleagues, competitors, etc. Innovation is not about big and small ideas but rather about having an issue, problem, challenge, or obstacle and solving it in a way that creates value for someone else. Don’t innovate on everything…only innovate on what differentiates you.
- There are dozens of ways to calculate cost savings. It is important to use hard and soft dollar methodologies that align with your company culture. When it comes to cost savings, speak in the CFO’s language–budget, forecast, target, run rate, and impact.
- Regarding Services Procurement, cost savings is a given but it shouldn’t be the primary driver of your business case. There is much more lurking below the surface when you begin digging into your SOW spend. You are going to find staff aug dressed up like SOW, you will find 1099 and freelancers dressed up like SOW, and you will find SOWs that nobody seems to even know exist. Focus on visibility, compliance and risk mitigation (protecting your own and your customer’s intellectual property and assets). Make sure your business case highlights the risks of doing nothing in regards to gaining control of SOW spend.