Getting Closer to Key Suppliers

As strategic sourcing efforts mature at many companies, the pressure on procurement organizations to deliver new value, including incremental cost savings, is increasing. In practice, most strategic sourcing initiatives have focused on improving the way goods and materials are acquired. Not surprisingly, with a "find it and buy it" mindset, efforts have been orientated largely around leverage and the use of competitive pressure to motivate suppliers to reduce costs and deliver better performance. While the discipline of strategic sourcing has yielding significant value, it has also revealed itself as insufficient.

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