The rise of marketing procurement has been much talked about, with commentary centred on efficiencies and savings. Yet the focus of this network is increasingly on value: whether through value-based approaches to remuneration, capability assessments or scope of work alignment.
Marketing sourcing is still fairly young as a discipline, but it is here to stay and networks such as this are helping it to mature. Boasting over a thousand marketing sourcing contacts around the world, the WFA Sourcing Forum has been referred to as a group of “enlightened marketing procurement specialists”. Member value is delivered through remote webinars, online tools and benchmarking services. The group also meets in person in New York, Singapore, Shanghai, London and Paris, among others.
Furthermore, to accelerate change in marketing procurement by improving practices across the industry and reposition procurement as a driver of company growth rather than a seeker of savings, WFA has created a Global Sourcing Board.
