Our most recent survey, “The Company You Keep,” targeted over 100 top Sourcing, Procurement and Risk Officers at leading companies around the world. We asked participants a series of questions aimed at identifying the key risks that their respective “extended enterprises” are confronted with given the extraordinary degree to which companies today rely on third party relationships to design, make, distribute, support and sustain their products and/or services in a globalized and connected economy. Our survey sheds light on the five key elements of an integrated sourcing strategy: vetting and selecting; structuring and documenting; educating and training; monitoring and evaluating; and reacting and remedying. Through our survey and experience, and the expert insights from Clarcor, we have identified best practices for managing the different phases of the sourcing process. This session will give you an opportunity to benchmark your practices against the processes that other companies use to choose the right party, allocate risk through negotiations and contracts and avoid common pitfalls. In addition, we will share key factors to ensure that your sourcing practices are not only cost effective but also confirm that “The Company You Keep” is right for your organization.

 

Contributors: Baker & McKenzie, Clarcor
Categories: 2014 Spring - Nashville, Summit Presentations
SRC Type: Sourcing, Strategy