Sourcing Strategies for Supply Chain Procurement

Improve supply chain sourcing and supplier management operations

Implement an effective supplier relationship management program

Supply chain leaders responsible for sourcing and procurement are often tasked to implement a supplier relationship management (SRM) initiative that often fails due to poor program design and lack of engagement from key internal and external stakeholders. Gartner’s SRM research focuses on SRM as a process to identify, engage and develop strategic suppliers to evolve from a cost-focused relationship to a mutually beneficial partnership.

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    New risks emerge with increased complexity, impact and velocity. Most leading organizations tackle this challenge with automated risk assessment and monitoring. Speed, accuracy and awareness are crucial.

    Koray Kose

    Senior Director Analyst, Gartner Research & Advisory

    Support an increasingly competitive marketplace

    Supply chain sourcing and procurement leaders face continuous pressure to optimize costs while supporting increasing customer demands and agility. Yet in their endless pursuit of cost savings, organizations often create unnecessary supplier risks — e.g., pushing away suppliers whose unique capabilities may be critical to their business success.

    Supply chain risk poses great concern to most organizations. 89% of participants in a recent Gartner survey said they experienced a supplier risk event in the past five years.

    Supply chain procurement insights you can use

    Supply chain sourcing and procurement leaders must move beyond short-term cost management to leverage supplier capabilities to their maximum advantage in a structured and segmented fashion. This involves aligning supply chain sourcing strategies, driving stakeholder engagement, and setting and communicating the right metrics internally and externally to drive the right behavior.

    3 Sourcing and Procurement Principles to Support Inventory Excellence

    This research identifies three principles that sourcing and procurement leaders can apply to support inventory excellence while fulfilling functional objectives for cost-optimized supply.

    Leading Through COVID-19: Procurement’s Actions in Response

    This complimentary webinar provides a chance to quickly learn what leading organizations are doing to respond during a time of great uncertainty.

    Gartner’s Supply Chain Cost Optimization Playbook for Sourcing and Procurement Leaders

    Cost optimization is a fundamental responsibility for sourcing and procurement leaders in supply chain. This research provides a framework and top ideas to optimize costs through both short-term tactical improvements and longer-term transformational changes.

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    Saved $600,000 in annual costs by leveraging supplier category intelligence
    Client Success Story

    Leveraging Supplier Category Intelligence to Reduce Costs

    With an impending contract renewal with their largest supplier, a medical device manufacturer was lacking a well-defined strategy to renegotiate terms intended to streamline costs. Gartner helped guide their negotiation strategy and recommended ways the client could leverage vendor category intelligence saving the client up to $600,000 in annual costs.

    Gartner experts are trusted advisors for 2,500+ supply chain leaders and executives.

    Gartner helps organizations grow  and maintain ownership of strategic initiatives. Make the right decisions for yours with trusted insights and objective advice.