Now for Tactics! What specific short term tactics will you deploy that support your plan and drive immediate measureable results?
One example of the above might be to augment the manual processes that many sourcing professionals use today in order to find new sources of supply interested in bidding for their business rather than continuing to live with the same small, known group of suppliers they have used for years. Historically this has been a very time consuming practice that results in few if any new sources of supply. This represents a great opportunity to deploy a tactic that can have an immediate impact for an organization without the need for the implementation of a complete new sourcing strategy.
There is a specific process to follow that will encourage new sources of supply to want to bid for a companies business beyond just being invited. Simply having your buyer assigned the task of running a Google or Bing search for new suppliers or picking up the phone and calling sources you may know but do not buy from will not result in additional suppliers agreeing to bid for your business. There are specific objections to overcome that we call the Seven Deadly Objections as well as questions to answer that require a specific skill set. This is a perfect opportunity for Software as a Service providers that offer supplier research to augment your team’s efforts. Skilled providers in this area can provide companies with as many as a half dozen or more willing high level new sources of supply in as little as thirty minutes that may in fact reside within a companies existing or newly planned marketing areas.
Sourcing tactics can be isolated procurement related actions or events that take advantage of opportunities offered by the gaps within strategic plans such as lack of new sources of supply mentioned above. In this case, our tactic here would be to find additional sources of supply that we can invite to compete for your companies business in a variety of high profile category spends. The fact is that additional sources of supply competing for a companies business results in compressed pricing and often better quality products and services.
If you’d like to learn more about the Seven Deadly Objections or our SafeSourceIt™ Global Supplier Database please contact a SafeSourcing customer services representative.
As always, we appreciate and look forward to your comments.
Leave a Reply
You must be logged in to post a comment.