SIG Speaks Blog

Understanding The Importance Of Outsourcing

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SIG University Certified Sourcing Professional (CSP) program graduate Kaila Flynn shares how this course has challenged her thinking and understanding of sourcing in order to develop a better understanding of the sourcing and procurement world.

Kaila Flynn, Sales Executive, Sourcing Industry Group

Principles of Stakeholder Management

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SIG University Certified Sourcing Professional (CSP) program graduate Jon Cody Hildebrand discusses the principles and key ways of managing different stakeholders.

There needs to be more debate among sourcing professionals in large organizations regarding the importance of achieving real buy-in from stakeholders. The challenges are many in supply chain management, but no challenge is more nuanced than stakeholder management. A project manager should consider these guiding principles to ensure program success. 

Identify your stakeholders. The big idea of this principle is to figure out who your stakeholders are and how they relate to the sourcing initiative. A stakeholder is "any group or individual who can affect or is affected by the achievement of the organization's objective" (Edward Freeman, A Stakeholder Approach to Strategic Management). However, the idea seems obvious. More than crucial players could be needed to avoid complications. 

The number of stakeholders and their level of involvement will vary depending on the program's scope. The sourcing professional should scan to identify everyone that should be involved; large-scale enterprise-wide programs will require a comprehensive look for players at all levels of the organization. A vertical scan will identify every stakeholder from the top down, from C-suite employees down to the end users.

Jon Cody Hildebrand, Procurement Specialist, Coca-Cola Consolidated

The Bain Of The Unknown

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SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate MJ Ellis shares a unique perspective on the fundamentals of effective third-party risk management through the panes of Johari's Window.

MJ Ellis, Third-Party Risk officer, Zions Bancorporation

The Inherent Value of Third-Party Risk

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SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Dallin Ingalls shares the inherent value that is associated with a strong third-party risk management framework.

Dallin Ingalls, Engagement Manager for Supplier Risk Management, Zions Bancorporation

Implementing Innovation

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SIG University Certified Sourcing Professional (CSP) program graduate Andrew Frye discusses the importance of implementing technology and innovation into sourcing practices.

Andrew Frye, Sourcing Systems Analyst, American Tire Distributors

Recap of May CPO & Executive Virtual Series

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In the recent May CPO & Executive Virtual Series hosted by SIG, we had the pleasure of welcoming esteemed speakers: Michael Koontz, Vice President of Strategic Sourcing & Business Leader at ATD Sourcing Solutions; Ruy Martins, Plant and Supply Chain Director at Urgo Medical; and Oren Salzman, Chief Procurement Officer at MetTel. The event was filled with engaging discussions and thought-provoking takeaways. Let's dive into the highlights!

Evolving Sourcing Strategies

Kicking off the day, Michael Koontz started the day with his insightful keynote presentation. He emphasized the need to think beyond contracts and understand the bigger picture of the business. Being at the decision-making table requires aligning with the company's vision and continuously educating ourselves. Plus, he shared some cool insights on using AI tools to make our sourcing processes more streamlined and efficient.

Transforming Traditional Purchasing

Next up, Ruy Martins took us on a journey of transforming traditional purchasing into strategic sourcing. He stressed the importance of taking a proactive approach, where strategy drives the company rather than being solely controlled by supply and demand. It was all about embracing Integrated Business Planning (IBP) and empowering the business to adapt and thrive. We were definitely inspired to think differently!

Unlocking Value and Streamlining Operations

Our last speaker, Oren Salzman, gave us a sneak peek into the world of MetTel. He shared invaluable insights on delivering value and going the extra mile. Oren emphasized the significance of creating a diverse environment that allows businesses to operate smoothly and optimize opportunities. We also dove into streamlining negotiation timelines, uncovering ways to make our processes more efficient. Who doesn't love a bit of optimization?

Desmond Williams, Digital Marketing Manager

Thoughts on Crowd Sourcing

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SIG University Certified Sourcing Professional (CSP) program graduate Noah Wilson discusses how crowdsourcing could be the innovation that businesses need to succeed in a rapidly changing environnment.

Noah Wilson, Buyer, Louisville Gas and Electric

Updating A Third-Party Risk Management Program

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SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate Nathan Coffet discusses the process of  updating a Third-Party Risk Management program and the benefits it can have.

Large fast growing multinational companies involving multiple mergers & acquisitions will often have many disparate processes in place to manage Third-Party Risk. There may be programs developed by individual group companies or parts of the group to meet general procurement needs. Corporate functions such as Privacy, Information Security, Corporate Social Responsibility, or Anti-Corruption may have developed customized programs to meet regulatory requirements or address audit findings. Other programs may have been driven by the need to respond to vulnerabilities arising from macroeconomic events: systemic risks in the financial market; or the impact of Covid on the viability of cross-border supply lines. The multiple languages and cultures add a layer of complexity.

A root and branch review may enable the business to simplify processes, strip out unnecessary costs and duplication and ensure that the key risks are appropriately overseen proportionately. The approach must be focused on the return on investment to make it easier to justify and obtain necessary resourcing.

But where to start?

It is tempting to jump in and start solving the problem before it is well understood. But do not rush.

First - Remember to Reinvent the Wheel.

Nathan Coffey, Senior Vice President of Privacy & Compliance, Teleperformance

Outsourcing: Challenges, Opportunities and Best Practices

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SIG University Certified Sourcing Professional (CSP) program graduate Jigar Mistry shares the potential benefits and opportunities that can arise from outsourcing.

At the current time, it is challenging to find an organization that performs all its core and non-core business in-house. Outsourcing business activities became standard across industries irrespective of their size or work area. 

There is a high chance that was answering services of any banking, insurance, technology, and an external organization handles many more. Most large-scale construction of tunnels, bridges, or roads for public or private players is dealt with by contractors who are masters of their field. Even research and development activities of automobile companies or even defense sectors have adopted outsourcing for their critical tasks.

We will look into the nature of outsourcing projects in terms of relations management, the advantages/ disadvantages of outsourcing, and best practices for collaboration.


Jigar Mistry, Senior Supply Chain Specialist, CDK Global

The Singapore Outsourcing Register: Obstacles and Suggestions to Meet this Regulatory Requirement from a Risk Management Perspective

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SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate William Chanto Castro shares the tricks to overcoming the obstacles to meeting risk regulations and requirements.

William Chanto Castro, Compliance and Risk Management Professional, Moody's Corp.