Source One Opens A Center of Excellence New Headquarters Reflect Industry Changes
WILLOW GROVE, Pa., May 23, 2013 /PRNewswire-iReach/ -- Early in the second quarter of 2013, Source One Management Services quietly moved to its new corporate headquarters in Willow Grove, PA. The relocation serve as an indicator of the company's continuation down a path of 20+ years of growth and success, but more importantly, it serves to reflect the company's ability to stay ahead of continuing shifts in the strategic sourcing playing field and to enhance the performance and profitability of their client base of Fortune 500 companies.
In a whitepaper circulated in late 2012 titled "The CPO's Agenda for 2012 …and Beyond", AberdeenGroup documented a shift in the priorities of CPOs across the United States in how they plan to improve on their organization's spend management. Strategic Sourcing, historically the most efficient and productive method of managing a business' spend, ranked last on the list, shadowed by an increased focus on spending categories and aligning procurement's strategy with the organization's goals as a whole. This centric shift for procurement departments can be seen as a response to the success of companies like Apple, whose supply chain optimizations and supplier management practices under then-CPO/now-CEO Tim Cook helped make the company the most valuable corporation in the world.
As a provider of consultative services focused on strategic sourcing and cost reduction, Source One has been building relationships with companies across a broad range of industries for just over 20 years. However, beginning in 2012, the company began an accelerated growth pattern that has yet to cede, a rapid pace of growth that began when Source One shifted the emphasis of their offerings from a cost-cutting position to that of a consultancy providing more value-added services related to supply chain management, such as supplier relationship management, project management and top-line revenue growth.
This growth mandated the move to a larger workspace, which also served as the final stage of an organizational restructuring at Source One. In order to support the growing demand for a more comprehensive service offering, Source One has created a Supply Chain Center of Excellence within its new headquarters, acting as an incubator for the development of new ideas and best practices for category management, supplier relationship management and Supply Chain/Finance integration. The initial focus includes developing a stakeholder engagement process that will allow procurement departments to more effectively support their marketing groups, as well as crafting thorough and accurate spend analyses and opportunity assessment tactics for IT requirements.
This incubator has already been put to practice through Source One's Supply Chain Center of Excellence's efforts in its nearshoring initiatives. As more and more companies look to move offshore requirements closer to the United States, Source One discovered that Mexican companies were struggling with the concept of strategic sourcing. Traditional Mexican business practices were focused on doing business only with those with whom they had a personal relationship with, and properly advertising product and service offerings online was not an established practice. In addition, Mexican companies' negotiation tactics differed greatly than those in the United States. As such, U.S. companies found it difficult to find the right suppliers in Mexico, and even when they did, prices tended to be inflated well beyond the total cost of product from China, even with tax incentives and less costly shipping charges.
With an evident gap in knowledge and culture of strategic sourcing between U.S. buyers and Mexican suppliers, Source One played an ambassadorial role by helping regions within Mexico build foundations to work efficiently and effectively with partners in the U.S. In 2011, Source One was invited to CONAMA (The National Congress of Manzanillo), a conference of Mexican businesses, politicians, and scholars, to define strategic sourcing and provide insight on the opportunities and challenges for Mexico and Latin America's nearshoring industry, helping a new generation of Mexican business people learn and practice the optimal engagement strategies needed to attract multinational customers from the U.S. and the world at large. The dialogue has continued, and Source One has been invited to speak at various events for LaSalle University students in Mexico City, further educating students on U.S. business practices.
Overall, Source One has leveraged its industry knowledge to stay ahead of the advances of a changing procurement industry, with a focus on shifting away from cost reduction and towards proactive supply chain and risk management. Joseph Payne, Vice President of Professional Services, emphasizes, "As Source One continues to fill the needs of customers looking to save money and manage risk, we are focused on building an organization that provides best practices for the future of the industry, where procurement is looked to not just to reduce cost, but to manage projects, provide market intelligence, and give companies a competitive edge in the marketplace."
Source One Management Services, LLC is a Strategic Sourcing Center of Excellence and leading procurement services consultancy, providing procurement transformation, spend management, strategic sourcing, cost reduction, and Decision Support services since 1992. Source One helps organizations reduce the costs for the common and not-so-common products and services that they use daily to run their businesses. Source One's services reduce the overall cost of acquisition through the application of proven sourcing and purchasing strategies, best practices, people and technologies.
Learn more about Source One on the web at www.SourceOneInc.com.
Nicholas Hamner Source One Management Services, LLC, 267-913-6253, email@example.com
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SOURCE Source One Management Services, LLC