Managed Sourcing Services: Explained

Discover what managed sourcing services is and how our team of experts can enhance your sourcing process so you can gain greater value from your supply chain

All businesses need supplies - from stationery, to machinery, to seasonal equipment and services.

Whatever your business needs, the sourcing process and managing your supply chains can be time-consuming. An efficient sourcing strategy is the ultimate goal when running an effective procurement operation.

But effectively dealing with numerous categories, complex services, or relying on inflexible technology can take up a lot of your Procurement teams' time. Sourcing and procurement professionals face enormous pressure to deliver, but face a number of challenges to effectively source for projects.

This is where using Managed Sourcing Services can help your in-house procurement teams.

A managed services approach to sourcing is currently very popular due to the efficiency and scalability gains, gaining access to a greater supplier network, and the ability to “tap the knowledge and experience” of external Procurement experts. In Procurement, technology has been a valuable asset in achieving gains in all of these areas, but there’s still room for growth, and the catalyst for success stems from more than technology alone.

A study by TechNavio* estimates that the global market for managed services will reach $193.34 billion, and has identified a number of top internal challenges:

.

*31%
Uncertain which
categories to auction

*27%
Lacked organization-
wide support

*20%
Limited internal
resources

*10%
Lacked qualified
suppliers

A reliable strategic sourcing services team provides access to category-specific experts, along with technology and recommendations needed to keep your sourcing and supply chain running smoothly and competitively.

Additional resources, support and expertise will help you streamline your procurement and gain greater value from your supply chain. By partnering with the right managed sourcing partner, you’ll see repeatable and sustainable results much more quickly than with a traditional approach to Sourcing.

Is a Managed Service model right for you?

A managed approach to sourcing is a powerful model for extending the value you deliver and shaping your organization’s growth and future.

Find out if it's right for you

Managed Sourcing Services: Explained

Whether driven by cost concerns, productivity requirements, a widening skills gap or the aging workforce, there’s a rising level of interest in a managed sourcing approach throughout the procurement discipline.

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Is a Managed Service model right for you?