Review from the Australasian Sourcing Summit

I recently attended the Australasian Sourcing Summit. The first event focussed solely on sourcing in the region. There were various topics presented and discussed about the different methods and uses of sourcing in today’s business.

Sourcing has come a long way in recent years. To quote Christian LeLoux of Ernst & young “sourcing is no longer a skill set, it is a vocation”. While I wholeheartedly agree with this, what I did notice is that people have differing understandings of exactly what sourcing is and how it is most effectively utilised. It made it evident that there is currently no standard within the sourcing community.

Sourcing is about utilising tools to support the resourcing requirements of a business. It is about planning, being proactive, networking, communicating and facilitating. Sourcing does not follow the principal of ‘one size fits all’. It needs to be developed with an understanding of a business, to align with business strategy, to support growth.

In today’s business world we are heavily reliant on technology, and while this is important, sourcing is not just about using the internet and looking through LinkedIn. It is about developing a strategy to identify the tools available to tap into the community you need. These tools may include networking, industry associations, conference and delegate lists and picking up the phone and asking for referrals.

The sourcing industry will continue to develop as new technologies and methodology are uncovered. As more and more companies look to utilise sourcing it is important that a strategy is developed and understood prior to implementation. Furthermore, it is essential that sourcing professionals are skilled in various techniques and have the ability to build and engage with a talent community to support ongoing talent requirements.

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