Welcome to a special edition of the Sourcing Industry Landscape podcast, hosted by Dawn Tiura.
This episode highlights team finalists for Sourcing Industry Group’s (SIG) Future of Sourcing Awards in the Innovations in Outsourcing category.
The teams nominated for the Innovations in Outsourcing category have demonstrated excellence in their field and represent the best example of innovation, transformation and/or leadership in outsourcing.
About the Teams:
- GEP – The client, a multinational manufacturer of consumer-packaged goods, sought to transform its end-to-end procurement function. As the service partner, GEP led a three-pronged approach spanning indirect sourcing, external supply chain and capital. The overall program focused on addressing key hindrances to value creation, such as multiple buying processes, lack of alignment between contract and sourcing, dearth of established processes to support indirect sourcing and supplier relationship management, among others.
- Denali – A WNS Company – Starbucks historically focused on supporting top-line projects for growth and innovation, and recently increased bottom-line savings goals and needed more fire power. Starbucks engaged a flexible partner and implemented a hybrid operating model to support sourcing and category management. “Cultural fit” was one of the key project risks and the client worked with Denali to demonstrate that the “chemistry” was positive prior to implementation. Denali’s dedicated team works at Client HQ, providing sourcing, analytics, and project support across Direct and Indirect categories. The integrated team exceeded the FY17 savings targets and developed a healthy pipeline for FY18 – on track to exceed goals for FY18.
- Russell Investments – At Russell Investments the Global Sourcing and Procurement (GSP) function had been centralized and professionalized the first four years, but we hadn’t touched the direct spend. Historically, the sourcing and negotiation of these agreements are done by the portfolio managers (PMs), in which the PM selects the best supplier, negotiates prices and executes the contract. In close partnership with the Chief Investment Officer (CIO), GSP completely redesigned the procurement process for the investment advisor spend. We developed a 12-month RFP pipeline, with clear roles and responsibilities, a playbook and training. The new process is fully adopted and has been used globally for the last two years.
About this Series:
Over the coming weeks, listeners will be introduced to the teams and individuals whose work has had significant impacts on the industry, the organizations for which they work and their colleagues. The Future of Sourcing Awards will take place at SIG’s Fall Global Executive Summit on October 17 in Rancho Mirage, California.
Links and Resources: