Sourcing Leadership Teams Making A Difference
Medical device sourcing managers to counter the increased costing pressures develop various models and strategies to address the need of the hour , however in recent past Medtech organization themselves have pitched in to support sourcing teams by – starting initiatives such ” Centralized Leadership Sourcing Programs”. This involves skilled professionals mapped to sourcing segments who are guided by upper management which sometimes involve CEO of the companies itself. Below are trail of facts around the same :
1. Direct and Indirect category combination – becoming part of focus areas for sourcing managers flagged to this initiative.
2.Increased number of companies adopting leadership team model, which involves sourcing specialist who are directly addressing company’s sourcing goals under the purview and guidance of CEOs.
3.Prime focus of this leadership team is to improve variable and base cost of company’s operations at multiple category levels.
Initiative is driven by some of the key factors which includes optimization of variable and base cost at different category levels and service lines. These objectives are addressed by trailing and monitoring supplier costs , quality aspects , performance aspects and internal usage.
As companies walk on the methodology they harness operating margin growth , and increased cost productivity. The initiative also provides with checks at various facets of value chain that helps sourcing leads to tackle legal and compliance risks. Model and methodology addresses the business need by operational effectiveness there by delivering operational excellence.
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