Where Do We Go Next?
Companies that source and procure from third parties often have a vision of a range of partnerships that bring them new thinking and innovation. However, things change, and as these relationships mature, they can find that the services provided become static, and this leads them to ask the question: “Where do we go next?”
Sourcing initiatives are often valued, especially at the beginning of a program, on the cost savings that are delivered against the categories of spend being procured. Over time, as budgets are established and companies become familiar with the new price points, the perceived value of the cost savings diminishes.
When this happens, focus starts to shift to service innovation and the ability for a company to differentiate itself against its competitors through its partnerships. In many cases, a company’s suppliers — while expert at producing the products that they provide — do not provide this kind of innovation as a core competency.
This moves the responsibility to already stretched in-house resources, requiring research into new areas, potential supplier evaluations and business case definitions for additional expenditures, especially during difficult economic times. Delivering on the promise of innovation is often extremely challenging for a company to do on its own.
Partnering with a sourcing solutions firm gives you visibility across industries, combined with the expertise required to develop timely recommendations for novel approaches to your circumstances. A strong partner can help you build a detailed business case to support the embrace of new ideas, particularly when you are able to fund these initiatives through cost savings.
At LogicSource, we believe that this kind of innovation is critical to the continuing evolution of total sourcing solutions, those that impact commercial, technical and operational value, and to the long-term success of our customer relationships.
We believe that each of our programs is a journey, starting with compelling financial benefits and the delivery of continuous service innovation over time — directly, as well as through our selective partner network.
Our category experts are focused solely on market developments and innovation in their fields. They, like our clients, are empowered by our OneMarket platform to be able to see trends and behaviors within categories and across industries. This infrastructure allows us to proactively innovate and to continually bring new ideas and thinking to our customers.
How will you take your sourcing solution to the next level? Where do you want to go next? Start a sourcing innovation conversation with us today.Tags: On Demand Resources, Sourcing Innovation