top 10 benefits of accreditation
Accreditation to the Standard helps organisations on both the buy side and provider side achieve the utmost success with their strategic sourcing; embedding competency, addressing weaknesses and assuring customers, clients, regulators and other stakeholders that the business is in the safest hands.
The Top 10 Benefits of Accreditation are –
“SOURCING HAS BECOME AN INCREASINGLY COMPLICATED ACTIVITY, OFTEN INVOLVING HYBRID SOURCING MODELS BLENDING INSOURCING, OUTSOURCING, NEARSHORING AND ROBOTICS, WITH INTEGRATED SUPPLY CHAINS OPERATING ACROSS MULTIPLE GEOGRAPHIC TERRITORIES. THE STANDARD HELPS YOU WORK THROUGH THAT COMPLEXITY IN A STRUCTURED, ORGANISED AND EFFICIENT WAY.”
Accreditation to the Standard is effectively a kitemark signposting that your organisation’s sourcing practice is meeting the highest standards in global best practice, differentiating you from the rest of the pack and providing you with a competitive advantage.
STRATEGIC SOURCING LEADERSHIP
Successfully working through the core phases of the Standard’s elements will inherently transition your organisation/team from a position of sourcing expertise through to that of strategic sourcing leadership.
Smoother transition through the various stages of the sourcing lifecycle, from the buying process into service transition, steady state and exit, helps to avoid unnecessary and unexpected costs on both sides. It also supports the building of trust and transparency, as well as more productive relationships long term.
This is achieved through greater alignment of expectations and greater consistency between the buyer and service provider. Case studies have shown savings of between 4%-7% across diverse portfolios.
IMPROVED INNOVATION AND IDEA GENERATION
Drives closer, more aligned relationships where trust and transparency prevails, encouraging joint risk taking in pursuit of innovation and new ways of working, mutual value creation and the generation of ideas that may bring even more value for both or either party.
The Global Sourcing Standard provides an independent perspective on sourcing practice, identifying areas for improvement and highlighting/validating success.
Underpins and supports all benefits realisation, but also reduces disputes, avoids poor risk management, saves time and resource; and prevents distrust and, in extreme cases, the breakdown of a relationship.
DEVELOPS COMPETENCE AND CAPABILITY
The Standard identifies where competence and capabilities within the organisation, and in partner organisations, need to be developed.
Provides assurance that an organisation is adhering to both internal and external policies and regulations
Accreditation provides clear objective and measurable evidence of effective sourcing management to stakeholders.
Contact us to find out how your organisation can become accredited to the Global Sourcing Standard.