Sustainable sourcing practices are converging with strategic sourcing to become a fundamental component of business strategy. New and emerging regulatory requirements have intensified focus on a wider range of sourcing and supplier performance metrics. Ensuring a sufficiently comprehensive sourcing strategy involves a straightforward game plan that includes a gap analysis, road map, monitoring and reporting, and a new narrative that resonates with key stakeholders over time.

In this article, Protiviti offers steps organizations can take to stay competitive and relevant while avoiding an outdated, narrow approach to sourcing.