Sourcing advisory is the use of third-party (external entity) advise during the sourcing process. As such, it may refer to advise sought during outsourcing, offshoring or global sourcing. Advisors can be independent consultants or management consulting firms. [1]
Sourcing advisors
Given the strategic nature of the advisory and the prevalence of sourcing amongst global organizations, most management consulting firms today offer sourcing advisory services. In addition, there exist a host of specialized sourcing advisors that focus on providing sourcing advisory and research inputs to the industry.[citation needed]
Services
The range of services provided by sourcing advisory firms include
- Helping buyers identify functions to be outsourced or offshored
- Helping buyers identify and evaluate capable suppliers
- Advising buyers through stages of the outsourcing transaction
- Helping buyers manage established outsourcing relationships (in issues such as governance and change management)
- Helping buyers re-negotiate or renew transactions
- Research relevant to the sourcing industry