Sourcing and procurement organizations have great potential to reduce costs, contribute to the bottom line, and deliver against enterprise strategic goals. By implementing strategic sourcing strategies and by implementing both strategic and tactical best practices, companies can improve effectiveness and achieve year-over-year savings in both lower harddollar costs and avoided costs. The companies that pursue this approach understand the potential of sourcing and procurement organizations and are transforming them from a back-office function into strategic business partners. These savvy companies will not only hold the line on costs, they will improve their enterprise's chances of success in today's highly competitive markets.