Did you know that 50 Stanley Black & Decker tools are sold every second around the globe? That level of operational feat doesn't happen by accident. It takes an incredibly streamlined and well-oiled machine—pun intended—to maintain such a bustling pace.
This was the crux of our recent customer webinar, "Nailing Sourcing Excellence: Stanley Black & Decker's Blueprint for Success," where Sheila Lopez, Sr. Manager Sourcing Analytics at SBD shed light on topics ranging from embracing automation to harnessing data analytics for better decision-making. If you weren't able to catch the live webinar, don't worry—we're about to unpack four key takeaways that could transform your own sourcing strategy. And, you can also watch the webinar on demand here.
1. The Power of a Unified Sourcing Strategy
In an era of complex global supply chains, adopting a unified sourcing strategy has become an imperative. SBD's transformation journey epitomized this need.
"In Stanley Black & Decker, we had a need to consolidate our operations across multiple businesses into a cohesive strategy," explained Sheila.
Achieving this required not just technology, but also ensuring all stakeholders were aligned in purpose. When disparate systems and data inconsistencies make consolidation a challenge, a unified vision can act as the North Star guiding the way.
"We had a need to consolidate our operations across multiple businesses into a cohesive strategy"
2. Embracing Automation for Complex Sourcing
Sourcing events require intricate scenario planning and decision-making to achieve the greatest success, and automation can play a pivotal role in streamlining complexity.
Sheila highlighted how "Keelvar's sourcing optimization tool allows us to create multiple scenarios and aids in decision-making." By automating routine tasks, sourcing teams can focus more on strategic initiatives and make better, data-driven decisions.
"Keelvar's sourcing optimization tool allows us to create multiple scenarios and aids in decision-making"
3. Improved Compliance and Decision-Making
Effective compliance is non-negotiable in sourcing, and Keelvar's solutions not only supports this but elevates it. "With Keelvar, we can track all actions which makes audits more straightforward and compliance easier to maintain," noted Sheila. Technology is proving to be the cornerstone for ensuring robust compliance and offering unparalleled visibility into the sourcing process.
In the video below, hear Sheila discuss how robust optimization technology has redefined sourcing at SBD:
4. Accelerated Adoption and Internal Buy-In
No technology can succeed without effective adoption and internal buy-in, and SBD managed this by rolling out training programs and demonstrating quick ROI. "Getting internal support was about showing wins quickly," emphasized Shiela.
From resilience to relationships, technology to training, Stanley Black & Decker’s sourcing strategy is not just about buying and selling, but creating a robust sourcing ecosystem. The webinar made it clear: A holistic approach, coupled with the right technology, can transform sourcing by making your processes more strategic, compliant, and efficient than ever before. Watch it in full and on-demand here.