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Strategic Sourcing Solution For A Resilient And Robust Business

Strategic sourcing solution is a holistic approach to supply chain management that continuously improves and re-evaluates the procurement activities of an organization to find the best value by gathering information and being more proactive. Over the past 25 years, Paragon Results Strategic Sourcing Solution has saved about 20% of client total procurement cost while mitigating supply risks and encourage companies to start with a due diligent audit assessment to determine their actual earning-impact opportunity. Contact us: https://paragonresults.com/<br>

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Strategic Sourcing Solution For A Resilient And Robust Business

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  1. Strategic Sourcing Solution For A Resilient And Robust Business

  2. Recent years have been challenging for businesses everywhere, and the ability to quickly source and procure goods and supplies has been key to their resilience. In the blink of an eye, procurement teams across the globe pivoted to support remote operations and essential workforces, while managing unprecedented risks.

  3. Strategic sourcing solution is a holistic approach to supply chain management that continuously improves and re-evaluates the procurement activities of an organization to find the best value by gathering information and being more proactive. A robust sourcing program identifies, and partners with the highest quality suppliers, thereby helping companies achieve their top level goals and objectives – such as cost savings, increased diversity spend, risk mitigation, supplier innovation, and compliance. To reach that next level of their sourcing maturity, companies have realized that they should focus on their core strengths, and partner with a next generation sourcing specialist like Paragon Results to achieve best levels of results.

  4. At Paragon the initial steps for a strategic sourcing solution involves: • Identification and categorization of spend profiles • Develop a sourcing strategy based on business goals • Analyze the supplier market • Request for supplier information • Initiate procurement and identify selection criteria • Selection of suppliers and execution of the contracting process • Measure and track the performance of suppliers • Implement Supplier Relationship Management (SRM) • Advanced analytics • Measure benefits • Reduce and measure direct and indirect costs • Boost long-term supplier relationships • Gain efficiency and a systematic approach • Mitigate supplier risk • Measure and report immediate ROI • Reduced cycle times

  5. To stay ahead of the changing world of business, sourcing and procurement leaders must be able to collaborate with their teams, suppliers, and stakeholders. With a robust strategic sourcing solution, these teams can operate using a connected system to drive strategic impact across the enterprise. In general, the need for (and value of) strategic sourcing as a dedicated function will grow with the size of an organization. However, even small companies – especially those with complexity along the supply chain – should be putting some thought into their sourcing strategy as early as possible.

  6. Over the past 25 years, we have saved about 20% of client total procurement cost while mitigating supply risks. For individual spending categories, we have typically saved clients 5% to 35% in cost depending upon their business strategy, supply chain dynamics, and past initiatives. We encourage companies to start with a due diligent audit assessment to determine their actual earning-impact opportunity.

  7. Do you want a strategic sourcing solution for your organization? Connect with us. 1000 Parkwood Circle, SE, Suite 900, Atlanta, GA 30339 Address +1 (630)-273-5231 Phone Email info@paragonresults.com Website https://paragonresults.com/

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