Imagine a scenario where a zealous sourcing manager at a Fortune 100 company is in negotiations with a new middle-market regional landscaping services provider. The negotiation is for a seven-figure annual landscaping and maintenance contract at their regional corporate park.
Launching an all new product ahead of your competition can determine long term market share and resulting profitability. Sourcing professionals have an amazing opportunity to increase the pace at which their companies bring new products to market by condensing the source-to-pay (S2P) process.
Let’s face it — many of our company’s functions still operate largely in silos as we batch our work together to then throw it over the wall to the next team in the value chain. Much lip service has been dedicated to catchy buzzwords like “agile” and “collaborative new product development.” Unfortunately, these newer ways of working together remain largely untapped.