| October 19, 2006
Building Collaborative Networks in Strategic Sourcing
|SPEAKERS FOR THIS EVENT:|
- Subs Tripathy, Associate Director, Strategic Sourcing, Novartis
- James Bowman, VP, Sourcing Demand Management, Fifth Third Bank
Podcast Options Archive Options
A Practical Approach to Achieve Savings Through Contract Consolidation And Streamline Procurement
Strategic sourcing takes a fresh look at how companies purchase products and services. The goal is to achieve cost savings by streamlining procurement activities through renegotiating, consolidating and automating contracts, while strengthening supplier relationships.
Strategic sourcing transforms relationships with direct and indirect suppliers into strategic partnerships, creating productivity gains and operational efficiencies for the company. It is crucial to establish reliable and long-term relationships with suppliers to optimize the partnerships and to maintain a competitive advantage.
Procurement and purchasing executives share their thoughts and best practices on strategic sourcing: streamlining corporate purchasing policy to lower costs, improve overall efficiency of spend management, increase profits, and develop better supplier relationships.
Take away points include:
- Streamlining the strategic purchasing process for hard dollar savings and operational standardization
- Collaborative approach to cost reduction within marketing, production and supply chain divisions with suppliers/ Partners
- Creating global sourcing partnerships for low-cost country sourcing.
- Gaining visibility of your suppliers and procurement processes
|THIS PROGRAM IS INTENDED FOR :|
Chief Sourcing Officers
SVPs, VPs, Directors of:
- Strategic Sourcing
- Supply Chain
- Global Sourcing
Jim Bowman, VP, Sourcing Demand Management, Fifth Third Bank
Jim leads Sourcing Demand Management for Fifth Third Bank in Cincinnati, OH. Complementing the Strategic Sourcing organization, Jim's Team focuses on the behavioral factors that drive the price and consumption of products and services across Fifth Third. He is also responsible for the build-out and adoption of the Strategic Sourcing and Demand Management methodologies, both inside of the Sourcing organization and throughout the Bank. Prior this role, Jim established an enterprise-wide Program Management Organization (PMO) and associated methodology for Fifth Third. He also served on the Executive Advisory Board for the South-West Ohio Chapter of the Project Management Institute (PMI). Before joining Fifth Third, Jim spent 5 years with General Electric as an Information Technology leader.
Subs Tripathy, Associate Director, Strategic Sourcing, Novartis
Subs Tripathy heads the Sourcing Solutions group within Novartis Pharmaceuticals Strategic Sourcing.He is responsible for the systems, processes and policies within Strategic Sourcing. These include implementation, rollout and adoption of eProcurement, eSourcing, Contract Management, Savings and KPI Reporting within Novartis.
Prior to joining Novartis, Subs has worked in the eProcurement domain in Alcoa and various consulting assignments in Japan, Europe and India. He has an MBA and a Masters in eBusiness