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Supporting strategic sourcing with innovative Technology.
Strategic sourcing is a process that continuously balances internal and external activities, align business processes, strategies and information technology services. It binds the operations of the company to the operations of the business. This ensures that the service delivery model put together; this will help to move business strategic aspects of critical operations and information technology forward. This implies going back to considering the direction in which the business is going and to assist use the available sourcing options to help drive it there (Rawlison and Howie 4).
A reasonable sourcing strategy has to address the current, efficient, and effective capabilities of the system, arising opportunities, and the roadmap followed. It is attained by the use of technology. It shift the focus from short term cost cutting process to long term value creation of the enterprise and create a rare chance to identify optimum service, maximize scale of economies, and delivers sustainable cost saving (Rawlison and Howie 5).
Matching strategies and needs.
The reason behind this is to increase and recognize the needs of the customers. Customers are ever demanding both at the consumer level and industrial level. This implies that the characteristic of qualifying order and wining order change and evolve constantly. Success defined by the ability to customize products in mass by the use of flexible supply chain that is flexible. This should be done keeping in mind the cost, quality, and timely delivery which is extremely beneficial. When developing a business model that is competitive, flexible, and responsive suppliers who are flexible and responsive required (Trent and Monczka 60).
Strategic development depicts the importance of strategic supply management. The assist all the participants know their functions in the process of strategic planning. This process comprises up of representatives from varied groups. It coordinates with the strategies of different groups. Risk management and prevention is an essential component of strategy development process. It is indispensable for formal supply strategies. Supply strategies are segmented by the use of quadrant approach. This should increase even if there is no standardized segmentation approach. It is crucial to follow a framework that guides strategy efforts (Trent and Monczka 65).
Contracting.
This is an agreed engagement that is voluntarily entered by parties which may be more than one. The aim creation of a binding obligation put in writing. It is a promise that is enforceable by law that something will or will not happen (Bolton and Dewatripoint 120).
The solution for disobeying contracts is remedy or compensation. These remedies are awarded to the party at loss. This is always greater than the reliance damages. The laws of contracts are not the same. It varies depending on the jurisdiction. These contracts depend on the principle that an agreement once made must be kept (Bolton and Dewatripoint 70).
The Global sourcing.
This the use soliciting, analyzing, and comparing complex bids for multiples categories of products, and releasing suppliers competition coupled with controlled bidding and award analysis. This is done by combining innovative sourcing together with optimizing technology with expert support. This enables organizations to optimize in negotiations with suppliers, increase competitions, and work together with end users in assessing the best award scenarios (Monczka, Trent and Petersen 87).
The customers who will be using the products get a chance to consider the supplier proposals. They put into considerations multiple categories of products; assess internal constraints such as preference or requirements. The advantages of this are that there is a large number of supplier responses, bigger channels of sourcing which are consistent, enhanced supplier relationship, and improved sharing of information with suppliers (Rawlison and Howie 88).
Supply alliances.
This is a business engagement that occurs between a buyer and a supplier. The main aim is to focus on the attainment of results by reducing on the cost. This put emphasis on innovation inflow from the supplier partner and strengthening engagement based on trust and in pursuit of a common goal (Monczka and Trent 170). The following is advantages.
- Reduced costs: Synergies that are not transactional and collaborative come up. This will cause lowering of direct and indirect costs that relate to effort, equipment, resources, and operating cost.
- Decrease time to market: The time used to develop, design and distribute services or products improve market share resulting in higher profit margins.
- Quality: There is product quality or improved services because of the use of better design and certification of suppliers. This will result in superior quality of low cost.
- Technology flow improvement: The flow of technology from suppliers improves as a result of transparency and enhanced trust from alliance partners leading to many new products which are successful.
- Supply: There is continuity of improved supply. The customers will experience no shortage of supply. The alliances have the following qualities: strong commitment, good cooperation, openness, good ethics, and share a vision that is common.
Despite the above advantages, there are disadvantages. These are: require a lot of resources, and reversed for relationships that are critical. Alliances have disadvantages as they require a lot of resources and tough situations (Burt, Petcavage and Pinkerton 100).
References
Baron, D., and D. Besanko. “Monitoting, Moral hazard, Asymmetric information , and Risk
sharing in procurement contracts.” Rand Journal of Economics, 1987.
Bolton, P, and M. Dewatripoint. Contract Theory. Cambridge: The MIT Press, 2004.
Burt, Petcavage, and Pinkerton. Supply Management. McGraw-Hill, 2010.
Monczka, R. M, R.J Trent, and K.J Petersen. “Effective Global Sourcing and Supply for Superior
results.” Tempe, AZ: CAPS Research (Tempe AZ: CAPS Research), 2006.
Monczka, R.M, and R.J Trent. “Strategic Supply Management: Creating the Next Source of
Competitive Advantage.” International Purchasing and Global Sourcing, 2007.
Rawlison, Tony, and David Howie. “Strategic Sourcing.” Information Service Group (ISG)
(Technology Partners International), 2007: 1-6.
Trent, R.J, and R.M Monczka. “International Purchasing and Global Sourcing: What are the
Differences?” Journal of supply Management, 2003.
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