Jul

14

There are 6 steps to improve your corporate third-party outsourcing strategy in terms of systems, processes and equipment while achieving cost savings that is a definite need to stay afloat during these troubling economic times.

Here’s how to reach business success at best-value.

According to Forrester Sourcing and Management Council’s Global manager Sean Sweeney,¬† there are six steps an enterprise must direct itself with authority on their third-party outsourcers and vendors in order to achieve best-value results to position themselves well during this downturn and for the eventual recovery.

Market the value of sourcing and vendor management. Sourcing and vendor management organizations are NOT part of the downturn problem but are part of the solution. Decide to take advantage of these organizations now.
Vendor Consolidation. Rationalize why certain vendors are or are not viable options for your business needs.

Challenge Vendors. Challenge your vendors to provide innovation for your business’ cost cutting needs.

Cut where you can. Initiate cost-cutting innovations in your own business house.

Perfecting Processes is an ongoing battle. Knowing the best practices and achieving results through best practices are two completely different matters. Bridging the gap between the two is a continuous process.

Monitor and manage risk. Renewed focus on risk management through  clearly defined stages and processes to identify and handle risks pre-emptively.

Outsourcing Solutions, Inc. – your outsourcing partner!
Reference:
Sweeney, Sean. “Six Ways to Succeed with Sourcing and Vendor Management.” 14 July 2009. CIO Website. Accessed 14 July 2009. Link Here

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