Strategic Sourcing in the New Economy: Harnessing the Potential of Sourcing Business Models for Modern Procurement
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Saturday, May 17
Description
This book provides a comprehensive overview of each of the sourcing business model. Readers will master the art and science of strategic sourcing by being able to chart a unique path that fits their capacity to apply more the full continuum of strategic sourcing concepts and tools. Read more
Publisher : Springer; 1st ed. 2016 edition (November 5, 2015)
Language : English
Hardcover : 466 pages
ISBN-10 : 1137552182
ISBN-13 : 81
Item Weight : 1.93 pounds
Dimensions : 6.5 x 1.5 x 9.5 inches
#2,991 in Systems & Planning:
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Top Amazon Reviews
In November, Kate Vitasek and a team of co-authors released Strategic Sourcing in the New Economy: Harnessing the Potential of Sourcing Business Models for Modern Procurement. Vitasek is best known for her Vested Outsourcing series a books, which are responsible for helping professionals in all functions see the potential of outsourcing relationships aimed at accomplishing a new, more value-oriented type of result. While the Vested books naturally appeal to a procurement audience, you would hardly say that procurement is the main character. We appear in little more than an occasional walk on role – not central to the plot and not particularly memorable. The contrast between procurement’s role in the Vested series and the fact that we now have a book dedicated to our perspective and objectives is striking. While the Vested Way is open to all, clearly we seized an opportunity that has now led to a book all our own. The big shocker of the book – you might want to sit down for this – is the belief that the Porter’s Five Forces and Kraljic models are no longer well suited to the goals and objectives of a modern competitive enterprise. Michael and Peter are out. Their strategic models, which were revolutionary in their time, overly emphasize the need to build power relative to one’s business partners. Before you feel too badly about this change in circumstances, it is fair to point out that the models were introduced in 1979 and 1983 respectively. So, 37 and 33 years ago. They had a pretty good run, but it does seem logical that we should revisit our guiding principles every 3 – 4 decades or so. Enter ‘Sourcing Business Models’ from Vitasek and team. There are 7 Sourcing Business Models, defined by the authors as “the combination of two critical concepts: the contractual relationship framework you use to work with your supplier (transactional, relational, investment based) and economic model you use (transactional, output, or outcome based). Because the encompass a wide range of approaches on the sourcing continuum, the models and outcomes vary significantly. More importantly, there is no one fixed center point – such as power – that leads to homogeneous results across the models like you might have with either Porter or Kraljic. If there is a downside to Sourcing Business Models, it might be that procurement has too long been overly dependent upon models in general. We had a strategic sourcing process, until we follow it like a checklist and it became tactical. There is a risk that this is replacing one model addiction with another, but it is still an improvement. And if any change comes from this, perhaps it will be the lesson that we should revisit the models we use every 5-10 years rather that 30-40. In fact, one of my favorite quotes in the book, from Luke G. Williams, executive director of innovation and entrepreneurship and professor of marketing at New York University’s Stern School of Business, is “Disruptive innovation is not just about following a process. It represents a mindset – a rebellious instinct to discard old business clichés and remake the market landscape.” If we assume that the authors agree with this sentiment, we have to think that they fully expect to see their models evolve or be replaced as circumstances require. Like the other books involving Vitasek, Strategic Sourcing in the New Economy is chock full of case studies – really good ones, where the companies are both identified by name and recognizable. An additional resource that I particularly like are the ‘Recommended Reading’ textboxes throughout the book. Not only do they make it easy to connect with additional information on each topic, their availability calls attention to the need to move on and do your own research to make the models and concepts your own.
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Reviewed in the United States on December 16, 2015 by Kelly McCarthy Barner
Procurement professionals have come to realize that the longstanding, power-based approach of negotiating suppliers into submission has diminishing utility in today’s economy, yet few know how or when to move beyond that convention to something superior, or even what a better approach might be. While there is no single right answer to meet this challenge, there are arguably several wrong ones as evidenced by roughly half of all sourcing relationships failing to deliver desired value. Consequently, since no single sourcing model works in all situations it has become vital to understand your options and architect the optimal relationship that gives you the best shot at meeting your desired business outcomes. And, that’s exactly what makes this book indispensable; it provides the foundation necessary to succeed on the job today and in the decades to come. In fact, Strategic Sourcing in the New Economy is one of the most comprehensive, best written, and valuable books available for sourcing and procurement professionals. I wholeheartedly and unreservedly recommend it. -- Lawrence Kane, COP-GOV, Sr. Leader, ITI Strategy & Sourcing
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Reviewed in the United States on November 11, 2015 by L. A. Kane
This book contains a surprising number of grammatical errors. It honestly makes it hard to trust the validity of what the author is trying to convey. If you can’t proofread your own book, then what else was missed in the actual research? It’s also frustrating to reread a sentence several times, thinking that you must have misread it, only to discover that it was written incorrectly. The most common grammatical errors are missing connective words.
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Reviewed in the United States on May 22, 2024 by Joshua Joshua
too self serving, with statements of the obvious for anyone in this domain.
Reviewed in the United States on July 12, 2016 by Amazon Customer