Strategic sourcing is an activity that has become increasingly important in today's global economy. An effective strategic sourcing organization can help businesses boost their bottom line by optimizing their procurement processes, reducing costs and increasing efficiencies.
The Sourcing Industry Group (SIG), founded in 1991, is the premier global sourcing association that provides thought leadership, networking and training opportunities to executives in sourcing, procurement and outsourcing from Fortune 500 and Global 1000 companies. SIG has served these professionals and opened dialogues with their counterparts in finance, HR, risk and other business functions throughout its 29-year history.
SIG is unique in that it brings practitioners, service providers and advisory firms in a non-commercial environment. With a 75:25 ratio of buy-side to sell-side, and over 68% of delegates holding decision-making titles, SIG events are collegial, memorable and senior-level.
Strategic sourcing is all about creating value through collaboration and innovation. By working together to develop sourcing strategies that align with a company's goals, a strategic sourcing organization can help businesses drive down costs while increasing efficiencies and improving their bottom line.
One key benefit of a strategic sourcing organization is that it helps businesses develop a deep understanding of their supply chains. This allows companies to identify areas where they can streamline processes, reduce costs and improve operations. By optimizing procurement processes and improving supplier relationships, companies can reduce the risk of supply chain disruptions and improve overall supply chain performance.
Another benefit of a strategic sourcing organization is that it helps companies stay ahead of market trends and emerging technologies. By working with vendors and other industry leaders, companies can stay up-to-date with the latest developments in their industry and identify opportunities to innovate and differentiate themselves from competitors.
To be successful, a strategic sourcing organization must be driven by collaboration and innovation. By working together to develop and execute sourcing strategies that align with a company's goals, a strategic sourcing organization can create value across the entire supply chain.
In conclusion, the Sourcing Industry Group (SIG) is the premier global sourcing association that provides thought leadership, networking and training opportunities to executives in sourcing, procurement and outsourcing from Fortune 500 and Global 1000 companies. SIG is unique in that it brings practitioners, service providers and advisory firms in a non-commercial environment. Strategic sourcing is all about creating value through collaboration and innovation, and a strategic sourcing organization can help businesses optimize their procurement processes, reduce costs and increase efficiencies.