SIG Resource Center
Innovations in Outsourcing: Global Sourcing and Procurement Project
At Russell Investments the Global Sourcing and Procurement (GSP) function had been centralized and professionalized the first four years, but we haven't touched the direct spend. Historically, the sourcing and negotiation of these agreements are done by the portfolio managers (PMs), in which the PM selects the best supplier, negotiates prices and executes the contract. In close partnership with the Chief Investment Officer (CIO), GSP completely redesigned the procurement process for the investment advisor spend. We developed a 12-month RFP pipeline, with clear roles and responsibilities, a playbook and training. The new process is fully adopted and has been used globally for the last two years.
About the Future of Sourcing Awards
The 2018 inaugural Future of Sourcing Awards program recognized organizations that showed innovation, leadership and transformation in categories critical to the sourcing industry. The Awards brought together some of the brightest minds, the best insights and the most relevant topics and created a truly remarkable experience. In eight categories our esteemed judges selected three finalists from many innovations in sourcing, outsourcing, third party management, supplier performance, digitization, governance/compliance, talent management, and sustainability.
Each nominee was invited to discuss their innovations in a podcast for The Sourcing Industry Landscape as well as a Ted-style Talk at the SIG 2018 Fall Global Summit. Finally, each nominee was asked to provide a handout for their Talk.
Sourcing
Evaluation and Selection
Sourcing Management
Category Management