Direct Procurement: Making Sourcing Strategic in a Chaotic Global Trade Environment

Direct procurement not only reduces purchase costs. It impacts revenue, margins and brand value. Decisions made early in the product lifecycle lock in upstream supply costs and supplier capabilities that inform an organization’s resilience and agility.

Getting direct procurement right from the start requires deep/broad data modeling, flexible workflows, outside-in intelligence and cross-functional adoption to demonstrate strategic value. It involves a lifecycle view from New Product Development/Introduction (NPDI) through production, maintenance, service and disposal. You need speed and tech purpose-built to build and maintain supplier networks that support demand and business requirements.

This recent Spend Matters and Samsung SDS America webinar explains how to navigate the complexities of direct procurement during NPDI, scale-up and ongoing operations, including:

• Why direct spend is unique and how to reduce the value at risk during a product’s launch, scale-up and ongoing operations.
• Key strategic imperatives, such as enabling design for supply, fostering supplier-led innovation and building adaptable collaborative supply networks.
  Essential technical capabilities for direct sourcing workflows and supporting data, analytics and intelligence.
• Strategies for effective management of BOMs, components/materials, costs and risk drivers to ensure optimal supplier engagement and performance.

Success stories demonstrate tangible impacts, such as decreasing new product cost by lowering direct material costs. This replay is an excellent opportunity to discover ways to streamline your direct procurement process and drive greater brand value.