Leading companies are driving efficiency and reducing leakage in their sourcing process by embracing contract-centric sourcing. This new paradigm brings contracts to the center of the sourcing process for better outcomes and reduced risk.
Today’s sourcing organizations are being asked to move faster than ever to source the materials needed by their companies. It’s a difficult position to be in. Under the current sourcing paradigm, the multi-step process of securing the vendor is time-consuming, and even then, can expose a company to risk and leakage. But there’s another way: Contract-centric sourcing. This new paradigm can save millions in leakage and accelerate the buying process, while also improving relationships with vendors and optimizing supply chain performance.
Contract-centric sourcing introduces contracts at the very beginning of the sourcing process and makes contract compliance a third pillar by which vendors are evaluated, next to technical and commercial capabilities.
Download this eBook to learn more about Contract centric sourcing, A new paradigm.
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