This Week in Consulting
Friday, November 2nd, 2018
Strategic Sourcing is a Team Sport
THIS WEEK’S MUST READ
“Teamwork has real-world, practical applications, and when applied to the world of federal procurement, these applications can lead to billions of dollars in savings.”
In the current federal contracting environment, perhaps more than ever before, the need for cost reduction has come into sharper focus—and with it, strategic sourcing and contract management to protect funding have become more important than ever. The promise of strategic sourcing is that it generates billions of dollars in savings, both for governmental as well as commercial organizations. There have been some great success stories.
However, in the current federal contracting environment, perhaps more than ever before, the need for cost reduction has come into sharper focus. The emphasis on cost reductions in federal spending is on display in the new administration’s proposed budget: According to Office of Management and Budget (OMB) director Mick Mulvaney, this is the “largest proposed reduction since the early years of the Reagan administration.
This Week’s Must Read features an insight piece by Deloitte, in which the consultant discusses how agencies can optimize the level of achievable savings while also reducing overall acquisition processing cycle times with just a few strategic adjustments to their procurement teams..
Read on to Find out More: “Strategic Sourcing is a Team Sport”, featuring Gary Sutton from Deloitte.
THIS WEEK’S VIDEO:
The last mile of the supply chain often falls far from communities that lack year-round road access. This is a very cool, futuristic look at how the internet and drones could be combined to deliver essential supplies, medicine and food to hard to reach populated areas.
INDUSTRY NEWS & INSIGHTS
- PA boosts innovation and product design arm with US acquisition: Global professional services firm PA Consulting Group has completed a deal to acquire Boston-based innovation strategy company Essential Design for an undisclosed fee. The move comes on the heels of a succession of purchases by the British origin PA, on the back of a major private equity investment in the firm. | PA Consulting
- Sikich acquires human resources technology consulting business: Professional services firm Sikich announced that it acquired the business of Executive Alliance, a human resources consulting firm that helps businesses across industries implement and optimize payroll and human capital management technology and processes. | Daily Herald
- WPP board approves plans to sell off Kantar: Advertising giant WPP has confirmed it is reviewing its ownership of Kantar, the wing of the firm which contains its health, media and consulting practices. Following a vote by the board of WPP, the group will now explore the possibility of a sale with the potential for an external partner with WPP to remain as a shareholder. | Wil Crisp, The Telegraph
Congratulations to the Consulting Quest Team!
It is with great honor to announce that Consulting Quest has been chosen as a finalist for the Best Procurement Consultancy Project Award for the World Procurement Awards 2018! Do not forget to check out our nominated case study.
- Three Lessons From the Federal Strategic Sourcing Initiative –GAO recently conducted an analysis of the Federal Strategic Sourcing Initiative (FSSI) and the extent to which the Office of Management and Budget (OMB) has incorporated lessons learned from the program into its category management (CM) initiative. Understanding the lessons learned and how to apply them to category management can help agencies plan for the strategic shift while maximizing results. | Censeo Consulting
- The Definitive Guide to Sourcing Automation –It’s a common misconception that sourcing automation is only for enterprises heavy on direct spend. This false belief has kept many companies tethered to clunky ERP-based procurement processes, unnecessarily leaving a lot on the table. | GEP Worldwide
- Calm collaboration tips-Collaboration is a word thrown around the outsourcing world with limited understanding, meaning few invest enough time and money in improving it. Clearly, collaboration across a supply chain is important – no individual IT component generates real value alone. But with increasingly complex IT delivery models often underpinned by a mix of in-sourcing and outsourcing, how can you strengthen collaboration across your own supply chain? | Mike Dodd & Rob Cann, PA Consulting
- Building superior capabilities for strategic sourcing-Purchased materials and services often make up 60 to 80 percent of a product’s cost. Companies that have invested in developing best-in-class purchasing capabilities have nearly double the margins of those that have not. By identifying the capabilities that will drive value, building them in real work situations using adult-learning principles, and institutionalizing them, a company can create sustainable performance improvements that enhance the bottom line. | Steffen Fuchs, Gillian Pais, & Jeff Shulman, McKinsey
Consulting Quest will be hosting a free Webniar for industry leaders in the coming months exploring best practices in Consulting Procurement. If you are interested in participating, please fill out this survey.
Check Out Other Upcoming Events and Workshops & Become a Part of the Consulting Quest Community!
- So You Want to Go Into Procurement Consulting: 3 Areas to Consider -In the same vein as lists of what doctors tell their own friends about common ailments, here are three things to know as you determine whether freelancing is for you. | Rebecca Karp, Spend Matters
- 68 Small Business Resources to Make Consulting Easy-Here are some extra small business resources for consultants to help you stay up-to-date on tips and tactics, improve your business practices in general, and to improve your toolkit. After all, it pays to be prepared. | Ben Mulholland, Process Street
- Must know Tools & Techniques in a Business Consulting World -Here are some of the tools and techniques which are crucial in a business consulting job. Check for yourself. | Ashwini Deshmukh, Insights Success
- How to Become a Consultant -Management consultants work to increase efficiency. But that is a very simple way to explain what they really do behind-the-scenes for large companies and organizations. Here’s how their days break down. |Learn How to Become
- Are you a Consultant with Supply Chain background or prior experience working in Retail/CPG? This may be the opportunity you have been long for. A Client of Consulting Quest – an Asia-based small Global Consulting Firm – is seeking to hire an Engagement Manager to join their newly established office in New York City. Learn More
Consulting Quest is a global, performance-driven consulting platform founded in 2014 by former members of top 10 consulting firms with the objective of reinventing consultancy performance. With a worldwide presence and a range of proprietary performance measurement tools, we help companies navigate the consulting maze. We work with Consulting Clients to increase their performance through consulting and Consulting Providers to help them acquire new clients and to improve their performance.
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Hélène Laffitte is the CEO of Consulting Quest, a Global Performance-Driven Consulting Platform and author of “Smart Consulting Sourcing”, a step by step guide to getting the best ROI from your consulting. With a blend of experience in Procurement and Consulting, Hélène is passionate about helping Companies create more value through Consulting.