STRATEGIC SOURCING proximity with supply chains , suppliers , regulations , developments and access to competitive insights on ESG , D & I , and sustainability .”
The future of strategic sourcing There are , according to Bhatia , three key impacts that strategic sourcing will have in the coming five to ten years :
Driving Business Value – Sourcing leaders will become trusted advisors who will accelerate business growth . As we speak , sourcing leaders are already playing a strategic role in operational supply chain strategies . In the future , they will also be in the driver ’ s seat on topics such as sales , go-to-market strategies , and business growth . This would be a natural progression owing to their vast knowledge and experience from working with multiple partners , suppliers , technologies , data , and market insights .
Insights ( not data ) at the heart of sourcing – All organisations will work with trusted partners who share actionable intelligence and insights regarding all their sourcing strategies . Harmonised , formalised data that is ready to be analysed will be the starting point ; a hygiene factor . Sourcing leaders will need clear and robust recommendations on what needs to be done and how it needs to be achieved , rather than just data and knowledge .
Sustainability and decarbonisation – The whole world is focusing on this , and
procurementmag . com 49