Strategic Sourcing Business Initiative

As part of the William & Mary Promise launched in 2013, the university committed to a comprehensive review of university operational processes to look for opportunities to reduce costs, improve efficiencies and generate new net revenues.  Based on the recommendation of external consultants, procurement services was able to on-board a sourcing analyst, dedicated to analyzing spend data for consolidation opportunities and collaboration on implementing change management initiatives.

Strategic sourcing is a collaborative, organized way to leverage spend with select suppliers that are determined to be best suited to provide value add solutions and pricing structure.

W&M also partnered with the Virginia Higher Education Procurement Consortium, VHEPC to achieve greater opportunities through collective buying power of many of Virginia’s higher education institutions to further strategic sourcing initiatives at the universities.

Below are some examples of campus-wide strategic sourcing initiatives.

Focus Categories

Commodity

FY18

% Savings

FY18

$ Savings

Highlights

 

Office Supplies

 

34%

$156,830

Customized best value items for university and consortium

Contracted with a Virginia based, women-owned, small business

 

Office Furniture

 

15.1%

$45,115

Reduced lead time on quick ship products from 6 – 12 weeks to 2 – 3 days

 

Vehicle Rentals

 

9.2%

$27,130

Realized additional savings on in-state rentals

 

Campus Catering

 

Est. FY19

Est. FY19

Added:

    Insurance confirmation

    Valid health inspection

    Compliance

 

Strategic Print

 

Est. FY19

Est. FY19

Consolidation from 35 suppliers to 9

Contracted with diverse suppliers

Many contracts include rebate incentives