The procurement playing field is no longer one of lowest cost or best value. Instead, it is one of knowing when and how to apply collaborative relationships in which suppliers are motivated to drive innovation with investments designed to create value for your organization. In this webinar, Kate Vitasek of Vested Way discusses the University of Tennessee's work on sourcing business models and shares insights from the book Strategic Sourcing in the New Economy: Harnessing the Potential of Sourcing Business Models in Modern Procurement.
Key takeaways include:
- Why some of the world's most popular sourcing strategies are incomplete for today's modern procurement challenges
- Why and when it is essential to make the shift from "buying" to "architecting" supplier relationships
- How systems thinking can optimize supplier relationships
- How to apply sourcing business model theory for any spend category