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GlaxoSmithKline
This case study discusses the challenges faced by GlaxoSmithKline (GSK) in sourcing complex professional services, such as legal, consulting, and marketing services, and the company's efforts to develop a centralized procurement function to better manage these services. The case also highlights the importance of strategic sourcing and supplier relationship management in achieving cost savings and driving innovation.
Problems/Issues
The problems and issues faced by GSK include inefficient procurement of complex professional services, limited visibility and control over spending, and supplier relationship management challenges.
GSK's decentralized procurement function resulted in inconsistent approaches to sourcing and managing complex professional services, which led to fragmented supplier relationships, limited cost savings, and missed opportunities for innovation.
Plus, due to a lack of visibility into supplier contracts and legal spend data, GSK faced challenges in tracking legal spend data, managing risks, and identifying cost-saving opportunities.
Finally, GSK struggled to develop effective legal services supplier relationship management strategies due to a lack of consistent processes, metrics, and governance frameworks across different business units.
Possible Solutions
To address the problems and issues highlighted in the case, the following solutions were considered: Developing a centralized procurement function, improving legal services supplier relationship management, and enhancing spend visibility and control.
By creating a centralized procurement function, GSK could establish consistent processes, governance frameworks, and metrics for sourcing and managing complex professional services across different business units.
Additionally, GSK could enhance its legal services supplier relationship management strategies by establishing performance metrics, conducting regular performance reviews, and leveraging technology tools to manage supplier contracts and relationships more effectively.
Also, by improving its spend visibility and control, GSK could gain better insights into legal services supplier performance, identify cost-saving opportunities, and mitigate risks associated with supplier relationships.
Recommended Solutions
Based on the analysis, the following solutions are recommended: Establish a centralized procurement function, implement legal services supplier relationship management best practices, and enhance spend visibility and control.
GSK should establish a centralized procurement function to streamline its sourcing and management of complex professional services....…its procurement processes and drive greater efficiency and cost savings.
By implementing supplier relationship management best practices, GSK can develop stronger, more collaborative relationships with its suppliers, which can drive innovation and improve the quality of services provided. By enhancing its legal services supplier relationships, GSK can drive innovation and improve the quality of services provided by its suppliers. This will enable the company to better meet its business objectives and improve its competitive position.
Finally, better spend visibility and control can help GSK mitigate risks associated with supplier relationships, such as contract breaches, regulatory compliance, and reputational damage. This will enable the company to mitigate these risks and protect its business from reputational damage or financial loss. Plus, standardizing supplier relationships and implementing legal services supplier relationship management best practices will also enable the company to manage risks associated with supplier relationships more effectively. By establishing clear communication channels and governance frameworks, the company can ensure that suppliers comply with its policies…
References
Gardner, H. & Silverstein, S. H. (2016). GlaxoSmithKline: Sourcing Complex ProfessionalServices. Harvard Business School.
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