Strategic Sourcing Steering Committee
- Identify and share industry best practices in strategic sourcing aligned with supply chain needs, capabilities, and services. Collaborate to establish new ones
- Drive innovation in sourcing processes, systems, technologies, and research. Champion AI Procurement Transformation.
- Create a collaborative platform for procurement professionals to exchange knowledge, advance skills, and optimize sourcing strategies.
- Identify ways to achieve spend management while ensuring quality, improving efficiency, service delivery, and mitigate risks.
- Develop an adaptable value proposition for Procurement as a critical business function, thereby bolstering careers in the space.
- Adopt proven sourcing models from leading-edge industries, such as Hi-Tech.
- Explore the establishment of a Group Purchasing Organization (GPO) to enable small and mid-sized companies to benefit from consolidation of purchase volumes.
At the 17th Annual Conference in March 2025 in Foster City (CA), BSMA resurrected its Steering Committee for Strategic Sourcing to capitalize on collaboration through information sharing, integrated systems, and disruptive technologies.
A core group of over 20 executives are committed to a paradigm shift from Purchasing to Strategic Sourcing. Let me remind you that Purchasing has generally had a seat at C-Suite whereas Supply Chain Management has not.
In today’s life sciences supply chains, strategic sourcing is no longer just about cost savings — it’s about reducing waste, risk, and ensuring resilience, responsive, and patient-centric supply networks.
With AI-driven inventory management and forecasting tools like Kinaxis, o9 Solutions, SAP IBP, Blue Yonder, and E2open now integrating seamlessly with sourcing platforms like Coupa, Ariba, GEP, Jaggaer, Ivalua, and Zycus, the opportunity is clear:
* Share real-time supplier performance insights
* Jointly mitigate risks across the value chain
* Secure critical materials before shortages occur
* But technology alone isn’t enough.
We need industry-wide collaboration — across manufacturers, suppliers, CDMOs, distributors, and regulators — to share data, align sourcing strategies, and create a single version of the truth for supply risk and inventory readiness.
The vision:
* A connected ecosystem where demand forecasts automatically trigger sourcing actions
* Shared supplier intelligence to strengthen qualification and diversify risk
* Collaborative planning cycles that unite procurement, supply chain, and quality functions
Let’s start the conversation.
If you’re working on integrating AI forecasting with strategic sourcing in pharma or biotech, share your experiences and challenges.
The future is predictive, proactive, and collaborative — and it starts with us.
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