By Kate Vitasek
In this must-have advisor for developing and imposing profitable outsourcing techniques and partnerships, Vitasek drives the foundations of Vested Outsourcing past idea into perform. From shared imaginative and prescient, wanted results to win-win and long term luck the handbook might help managers construct an contract vested in every one other's success.
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Extra info for The Vested Outsourcing Manual: A Guide for Creating Successful Business and Outsourcing Agreements
It is preferable to not use the term commodity, as we believe that many procurement professionals often confuse it with the “simple transaction-based” business model. , safety issues involved in the production of the goods or customization) or require more dependence on third parties to bring them to market often need more advanced business models and contracting vehicles. Examples include petroleum, titanium, and palladium, which are highly valuable “commodities” that require significant investment and complex trading relationships to bring to market.
In the purest cases, a service provider is paid only when it is successful in achieving the mutually agreed Desired Outcomes. However, some Vested agreements skillfully combine fees per transaction with a sophisticated version of value-based incentives. This mix of fee-for-transaction and value exchange and commercial incentives creates agility and opportunities for organizations to deliver value efficiencies instead of merely trading on price. Rolls-Royce PLC provides a good example to help get you thinking about outcomes.
Many deals are structured around “all risk, no reward”; in such cases, a supplier or service provider that does not meet the desired results is penalized. Outcome-based approaches are used most widely in the aerospace and defense industries. Often they are referred to as performance-based logistics because they couple maintenance and support to the procurement of a product. An example is Rolls-Royce’s Power by the Hour solution (discussed in the next case study), where its clients pay a fixed-fee charge for engine logistics and maintenance support based on flight hours.