FOS Awards Entry Rules

  • Your nomination must be received on or beforeSunday, June 30, 2024 by completing the nomination form for individual, team, or partner award categories on the Future of Sourcing Awards page. 
  • Nominations will be accepted from both buy-side and sell-side (advisory, consultant, service provider, etc.) organizations. 
  • Nominations must all be submitted online and will include a series of responses to questions that support the scoring criteria (outlined below). 
  • Nominees will be allowed to select up to two categories that apply to each project (for award consideration in more than one area), but if more than one project is being submitted, separate nomination forms must be completed.  
  • The criteria for the awards is shared below but the actual judging process is confidential. No feedback will be shared with nominees and all decisions are final. 

Specific Award Criteria

The Future of Sourcing Awards will be given in the categories listed below. For full transparency, weightings for judging criteria have been assigned and shared below as well. Your submission, which could include a nomination for yourself or someone else, should provide clear responses to each criterion. Summary information from the nominations may be used in marketing materials. 

Team/Partner Awards 

The winner of these awards will represent the best example of innovation in each category. You may select up to two categories that apply for a specific project nomination to be considered for but will only be eligible to win in one category. If more than one project is being submitted, separate nomination forms must be completed. 

  • RInnovations in Digitization
  • RInnovations in Environmental, Social and Corporate Governance (ESG)
  • RInnovations in Governance/Compliance
  • RInnovations in Outsourcing
  • RInnovations in Sourcing
  • RInnovations in Supplier Diversity
  • RInnovations in Supplier Performance
  • RInnovations in Sustainability
  • RInnovations in Talent Management
  • RInnovations in Third Party Management

*For the purpose of these awards, innovation is loosely defined as making a major change that has had or will have a significant impact on the organization and/or the greater community. In each area, the project can include automation, major transformation, or process improvement, but the winning organizations will show the greatest achievement in terms of fundamentally changing the nature of their business in some capacity. 

Scoring:

Each of the above award categories will be judged based on the following criteria: 

Strategic vision: 30%

Outline “why” your team embarked on this project  

You need to explain: 

  • How things were done originally 
  • The drivers that led to the need for change 
  • Your goals in embarking on this project 

You will score higher for: 

  • Clarity of vision 
  • Creativity and design thinking 

Outcomes delivered: 40% 

Describe the “what” for the project 

You need to explain: 

  • How you assessed the risks/potential for your strategy 
  • The outcomes achieved in terms of performance/ customer satisfaction/revenue/sales and any other relevant financial gains 
  • How you measured the outcomes 
  • How they differed from what you expected and why 
  • How transformative this has been as a strategy within your organization and how engaged employees are with the change 

You will score higher for: 

  • A clear, simple measurement/assessment approach for both tangible and less tangible outcomes 
  • Achieving high levels of internal transformation  
  • Breadth of impact across financial and non-financial areas 
  • Quantum of benefits delivered – how great an impact the initiative has had and how much benefit has been delivered to the business  
  • Demonstrating high levels of employee engagement and commitment to the new business model 

Future focus: 30% 

Describe the “how” for future delivery and sustainability of benefits

You need to explain: 

  • How you plan to ensure that the new model remains relevant and adapts to the future needs of the market 
  • How you are thinking about the future and how emerging technologies or approaches might be applied to deliver further value 
  • What you are doing to safeguard the future of the benefits 

You will score higher for: 

  • A practical and achievable approach to future-proofing the model 
  • Understanding and insight into emerging technologies and how they can play a role 

Individual Awards 

The winners of these awards will recognize the best of the best – both up and comers as well as seasoned veterans. Your nomination will be evaluated on the individual’s merits, accomplishments, successes, and other factors. Multiple nominations will be considered as one nomination; however, the details within the nominations will be compiled and considered in total. Therefore, although multiple nominations do not increase your chances of winning, the information included could provide insight that would otherwise be missing. 

  • RRising Star Award

This award recognizes an individual newer to the industry who has shown initiative and promise by delivering a project, developing thought leadership, or creating a new methodology that is likely to have a lasting impact. Your submission, which could include a nomination for yourself or someone else, should provide clear responses to each criterion.  

  • RSourcing Star Award

This award recognizes an individual who has demonstrated inspiring, insightful, and innovative work in the sourcing field over the course of their career in the space. Your submission, which could include a nomination for yourself or someone else, should provide clear responses to each criterion. The winner of this award will be a more seasoned veteran than the Rising Star candidates, and will have delivered projects, thought leadership or other tangible outcomes that have made a transformative impact on the industry. 

Scoring:

Each of the above award categories will be judged based on the following criteria: 

Impact on the Industry: 50% 

Describe what the candidate has done to make a lasting impact on the industry

You need to explain: 

  • How the person has influenced the industry in transformative ways. This could be a new approach or methodology; the application of an existing technology in a completely new way; significant thought leadership; or even a career of inspiring others 

You will score higher for: 

  • Good examples and relevant stories 
  • Endorsements from colleagues, clients and partners

Insight and Leadership: 50%

Describe the specific body of work that has influenced the industry  

You need to explain: 

  • The specific work the person has done. This may include links to books, articles, blogs, podcasts, projects, presentations or other original thought leadership written/managed by this candidate 

You will score higher for: 

  • Showing how multiple people have benefitted from this person’s contributions