Long-term procurement success relies heavily on the competitive edge—strategic sourcing. “Strategic sourcing empowers a company to take complete advantage of cost and capability delivered by low-cost traders, suppliers and sourcing agents,” explains Shruti Agrawal in the article Six Key Steps to Sustainable Procurement Success for Supply Chain Management Review.

One of Agrawal’s six steps includes ‘Driving Change Through Cross-Functional Collaboration’. Agrawal states, “Key purchase agents can set up on-job coaching programs where they transfer their expertise and capabilities to the newly formulated cross-functional teams.” Knowledge transfer and team sharing naturally lead to clearly-aligned goals and, ultimately, company savings.

Savings. Of course we all strive for savings. So what does your organization do to ensure sustainable procurement success? Share your best practices on LinkedIn & Twitter.

By: Tara Ann Neville