Outsourcing is a common term for the process that Sourcing professionals lead to enable the enterprise to determine make-or-buy decisions for operations and/or services. It involves sourcing a service provider while transforming the organization's internal employee base, processes, competencies and technology. Outsourcing offers more risk than other types of relationships, enabling the CSO to provide the highest return on time invested in the sourcing process.
In an increasingly complex business world, smart companies have recognized the value of a competent Chief Sourcing Officer. If you have ever experienced a painful divorce from a key supplier relationship, you surely regret entering the arrangement without your trusted advisor at your side.
About the Authors: Cyndi Joiner is managing director and member of the Executive Management Team at Sourcing Interests Group, a provider of ongoing forums and supporting services that assist companies in the sourcing of goods and services and the outsourcing of information technology and business processes. She has 15+ years of leadership experience in the areas of operational procurement, strategic sourcing, supply chain and business process outsourcing. As Senior Vice President and Chief Sourcing Officer at holding company Fifth Third Bank, Linda Tuck Chapman implemented and manages a world-class Bancorp "Centre of Excellence" for Strategic Sourcing, Sourcing Demand Management, and Offshoring and Sourcing Governance. She and her team oversee acquisition, management and regulatory compliance for approximately $1.5 billion annual spend.