Developing and Promoting Sourcing's Strategic Value

Access this expert-led webinar instantly, available anytime on-demand.

4.6
Included in All-Access Membership
Live Webinar - no upcoming date
Customer Satisfaction Guarantee Learn with confidence. If you're not happy, we'll make it right. That's our guarantee.

Purchase Options

Select an attendee quantity to add to cart.

Recorded Webinar Only

$219.00
or

All Access Membership

The Aurora All Access Membership is designed to provide you with the training that you want when you want it. You will have 100% access to every live webinar, on demand webinar, professional alert, and podcast that Aurora Training Advantage offers with no additional cost.

Learn More About Our All Access Membership
$599.00
All Access Membership

Becoming a trusted advisor. Getting an early seat at the table.These are some of the issues that Sourcing teams struggle with all too often. The same teams are continually challenged by their own stakeholders to demonstrate value. Often overlooked in the process are the broader opportunities for ensuring post-contract efficiency (and further value).

This session will explore best practices in cultivating sustainable stakeholder relationships to create a strong foundation for Strategic Sourcing, and development of a collaborative process to add value throughout the relationship.

Your Benefits of Attending:

  • Understand which metrics matter and why.
  • Want to be more efficient?  Gain insight into "tips and tricks" that optimize resources and minimize effort.
  • Most importantly... make it resonate! You will hear case studies on measures of success.
  1. Introduction
  2. Today’s Learning Objectives 00:03:30
  3. Perception vs. Reality vs. Opportunity 00:06:29
  4. Shifting Focus on Value 00:08:57
  5. Value Evolution Strategy 00:10:12
  6. Developing and Promoting Sourcing’s Strategic Value - Tools, Techniques, Considerations 00:19:58
  7. The Essential Steps to Ensure Sustainable Sourcing Value 00:20:18
  8. Enabling Success With 360 Views 00:24:47
  9. Developing and Promoting Sourcing’s Strategic Value - Measures of Success 00:32:01
  10. Commonly Used Metrics 00:33:30
  11. Metrics That Matter 00:00:36:41
  12. Opportunities for Value Creation 00:46:44
  13. Developing and Promoting Sourcing’s Strategic Value - Practical Examples 00:54:08
  14. Add Value With Insight 00:55:52
  15. Add Value With Opportunity Analysis 01:02:16
  16. Developing and Promoting Sourcing’s Strategic Value - Case Study – 01:10:39
  17. Establishing a Baseline – Identifying the Opportunity 01:12:57
  18. Problem Statement 01:16:40
  19. Creating Better Supplier Engagement Using Agile Methodology 01:18:02
  20. Establishing Sprint Goals 01:19:04
  21. Internal Service Levels vs. Benchmark Findings 01:20:34
  22. Internal Customer Experience: Third Party Onboarding 01:22:42
  23. Assessing the Findings 01:23:36
  24. Showing Improvement – Metrics That Matter 01:24:31
  25. Developing and Promoting Sourcing’s Strategic Value - Benefits and Takeaways 01:27:47
  26. Procurement’s Trendline 01:28:12
  27. Enabling Success 01:32:56
  28. Key Takeaways 01:36:44
  29. Presentation Closing 01:39:00

  • Kevin Giblin

    Kevin Giblin

    Career Highlights: Ranked #23 in Thinkers360’s Global Top 50 Thought Leaders in Procurement 2017 EPIC Award for Career Excellence, Indirect Purchasing 2012 SDCE Green Supply Chain Award  2011 recipient IACCM “Collaborate to Innovate Award”  2009 CTB Achievement Award 2005 Corporate A [...]

    View Full Profile

ISM Credit

Institute of Supply Management

This program may be used for Continuing Education Hours (CEH) toward recertification for programs offered by the Institute for Supply Management®, including the Certified Professional in Supply Management® and Certified Professional in Supplier Diversity®.

ATAPU Credit

Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in purchasing.

QPANJ Credit

Qualified Purchasing Agent - New Jersey

  • Agile Methodology 01:18:02
  • Baseline 01:24:50
  • Compound Annual Growth Rate (CAGR) 00:55:52
  • Contract 01:01:23, 01:03:13, 00:26:41, 00:30:56
  • Cost 00:09:29, 00:16:37
  • Procurement 00:06:50, 00:09:11, 00:12:31, 00:34:06, 01:24:29
  • RACI Chart 01:16:40
  • Request For Information (RFI) 00:11:05
  • Request for Proposal (RFP) 00:10:54, 00:25:46, 00:29:12
  • Request For Quotation (RFQ) 00:11:04
  • Return on investment (ROI) 00:33:54
  • Risk Mitigation 00:13:13
  • Root Cause Analysis (RCA) 01:19:17
  • Sourcing Value 00:10:08
  • Spend Analysis 00:21:01
  • Stakeholders 00:12:46, 00:27:21m 
  • Strategic Sourcing 00:56:21
  • Supplier 00:12:47, 00:13:19, 00:18:19, 00:21:54, 00:24:58, 00:32:25, 00:55:22
  • Supply Chain 00:31:00
  • Value Chain 00:13:15

Agile procurement : An iterative approach to business processes, focusing on continuous improvement and delivering fast results for stakeholders.

Baseline: A critical tool for tracking and managing the cost of materials and services throughout a project. By comparing current costs to past costs, organizations can ensure that their resources are being used efficiently and effectively.

Compound Annual Growth Rate (CAGR) : The compound annual growth rate is the rate of return that would be required for an investment to grow from its beginning balance to its ending balance, assuming the profits were reinvested at the end of each period of the investment’s life span.

Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.

Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location

Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.

RACI Chart: A RACI chart (sometimes called a Responsibility Assignment Matrix) is a way to identify your project teams' roles and responsibilities for any task, milestone, or project deliverable. By following the RACI acronym, you can clarify responsibility and reduce confusion.

Request For Information (RFI): A request for information is a common business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next.

Request For Quotation (RFQ): A process in which a company solicits select suppliers and contractors to submit price quotes and bids for the chance to fulfill certain tasks or projects.

Request for Proposal (RFP): A request for proposal (RFP) is a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset, to potential suppliers to submit business proposals.

Return on investment (ROI): A measure used to evaluate the financial performance relative to the amount of money that was invested. The ROI is calculated by dividing the net profit by the cost of the investment. The result is often expressed as a percentage. See an example here.

Risk Mitigation: Risk mitigation involves taking action to reduce an organization's exposure to potential risks and reduce the likelihood that those risks will happen again.

Root Cause Analysis (RCA) : Root cause analysis (RCA) is the process of discovering the root causes of problems in order to identify appropriate solutions. RCA assumes that it is much more effective to systematically prevent and solve for underlying issues rather than just treating ad hoc symptoms and putting out fires.

Sourcing Value: Sourcing Value is an enterprise decision-making platform of Applied Value Group allowing businesses to automate sourcing needs to save time and money. Sourcing takes care of everything from finding suppliers, vetting & contracting them, and maintaining a healthy chain of vendors to cater to the organizational needs.

Spend Analysis: A spend analysis is the process of cataloging business spend data and reviewing it in order to identify inefficiencies, root out unnecessary costs, remove waste and redundancies, and find gaps within the supply chain to make changes that will ultimately reduce costs.

Stakeholders: A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.

Strategic Sourcing: Strategic sourcing is an approach to supply chain management that formalizes the way information is gathered and used so an organization can use its consolidated purchasing power to find the best possible values in the marketplace and align its purchasing strategy to business goals.

Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.

Supply Chain: A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. The supply chain also represents the steps it takes to get the product or service from its original state to the customer.

Value Chain: A value chain is a set of activities that a firm operating in a specific industry performs in order to deliver a valuable product for the market.

Customer Satisfaction Guarantee
Invest in your future with confidence! Our Customer Satisfaction Guarantee eliminates all risk, letting you focus purely on mastering new skills and advancing your career. If you're not completely satisfied, we'll ensure you are. Your satisfaction is not just a promise; it's our guarantee.

Webinar Survey Overall Rating

This webinar received a total of 2 survey responses. Attendees have given an average rating of 4.6 stars out of a possible 5, reflecting the quality and value of the content presented.

Average rating

4.6 / 5
Webinar Presentation
How many of the objectives of the event were met?
5.0 Stars
How useful was the information presented at this event?
4.5 Stars
Overall, how satisfied were you with this event?
4.5 Stars
Speaker Performance
Overall, how satisfied were you with this presenter?
4.5 Stars
How closely did the presenter follow the schedule?
4.5 Stars

Reviews From Webinar Survey

Our webinars are crafted to deliver exceptional value and insight to business professionals. Below, you'll find genuine feedback from attendees.

Kimberly W.
May 23, 2024
5.0 / 5
Webinar Rating:
5.0 Stars
Speaker Rating:
5.0 Stars
Do you have any other comments, questions or concerns?
Great Presentation - Thank You
Karen H.
May 23, 2024
4.2 / 5
Webinar Rating:
4.3 Stars
Speaker Rating:
4.0 Stars
Do you have any other comments, questions or concerns?
Very insightful and well presented.

Frequently Asked Questions

Sourcing teams often struggle to be seen as strategic partners rather than transactional order-takers, yet elevating this perception is essential for securing early involvement in key business decisions. Demonstrating strategic value requires shifting the conversation from cost savings alone to a broader value narrative that includes risk mitigation, supply continuity, innovation access, and supplier relationship quality. Concrete steps include developing and sharing metrics that matter—such as return on investment, total cost of ownership, and supplier performance indicators—rather than just price reduction percentages. Sourcing teams should position themselves as trusted advisors by proactively bringing market intelligence and supplier insights to stakeholders before they ask. Securing an early seat at the table during budget planning and project initiation allows procurement to shape decisions rather than react to them. Consistent communication of sourcing achievements through dashboards, business reviews, and case studies builds credibility and internal brand equity over time.
In strategic sourcing, selecting the right performance metrics is critical for demonstrating value and driving continuous improvement. While cost savings and cost avoidance remain foundational, truly effective procurement teams measure a wider portfolio of outcomes. Key metrics include supplier performance (on-time delivery, quality rates, responsiveness), contract compliance rates, sourcing cycle time efficiency, spend under management, and supplier diversity. For stakeholder-focused reporting, metrics tied to business outcomes—such as contribution to revenue growth, working capital improvement, and risk reduction—carry greater persuasive weight. Metrics that resonate with senior leadership are those expressed in the language of the business, not just procurement jargon. Compound annual growth rate (CAGR) of spend, total savings as a percentage of managed spend, and internal customer satisfaction scores are examples of metrics that matter. Regularly reviewing and refreshing the metrics portfolio ensures continued alignment as organizational priorities evolve.
Strategic sourcing is a comprehensive, data-driven approach to procurement that aligns purchasing decisions with an organization's broader business strategy, rather than simply finding the lowest-cost supplier for each transaction. Unlike traditional purchasing—which tends to be reactive and transactional—strategic sourcing involves proactive market analysis, total cost of ownership evaluation, supplier segmentation, and long-term relationship development. It incorporates spend analysis to understand where money is being spent, category management to develop sourcing strategies by commodity type, and cross-functional collaboration to ensure procurement decisions reflect operational needs and strategic priorities. Strategic sourcing also emphasizes supplier development and innovation partnerships, recognizing that top suppliers can be sources of competitive advantage beyond cost efficiency. The transition from traditional purchasing to strategic sourcing requires investment in capability building, process redesign, and stakeholder engagement, but delivers substantial returns in value creation and risk reduction.
Sustainable stakeholder relationships are the foundation of a high-performing procurement organization and require deliberate investment and ongoing attention. The first step is understanding what stakeholders actually need—not just their stated requirements, but their underlying goals, constraints, and success criteria. Regular structured engagement, such as quarterly business reviews and cross-functional project teams, creates recurring touchpoints that build trust and shared understanding. Procurement teams should position themselves as problem-solvers and value creators, bringing proactive insights and options rather than waiting to be asked. Clear communication of roles and responsibilities using tools like RACI charts reduces friction and misunderstanding. Most importantly, consistently delivering on commitments—achieving savings, meeting timelines, and resolving supplier issues quickly—earns the credibility that opens doors to earlier strategic involvement. Stakeholders who trust procurement will voluntarily invite them into planning processes, enabling a virtuous cycle of increasing strategic relevance.
Many organizations invest significant effort in the sourcing and contracting process but underinvest in post-contract management, leaving substantial value unrealized. Post-contract management encompasses all activities after a contract is signed to ensure agreed terms are executed, performance commitments are met, and the relationship continues to generate value. Key activities include supplier performance monitoring against defined KPIs, contract compliance auditing, regular business reviews, and proactive identification of cost or process improvement opportunities. Research shows that significant portions of contracted savings are lost in execution due to poor compliance, scope creep, and relationship deterioration. Effective post-contract management also includes change management processes for contract amendments, dispute resolution mechanisms, and structured end-of-contract transition planning. By treating the signed contract as the beginning—not the end—of the value creation process, sourcing teams can significantly amplify the return on their strategic sourcing investments.