This IDC Insight identifies present market trends and the resulting actions that the VSMO must undertake for its transformation and its capacity to reach a higher level of maturity. The VSMO is a cross-functional organization that draws its members from internal disciplines representing IT, global procurement, finance, legal, project management, audit, and risk and compliance. This document addresses the VSMO and managers of these disciplines. Some of the questions this Insight seeks to answer range from the sourcing and vendor management life cycle to organizational issues that the VSMO will need to address for its transformation. These questions include:
- How will market trends impact the vendor landscape and its impact on the VSMO discipline?
- What is the sourcing and vendor management life cycle that the VSMO must take ownership of?
- What skills must the VSMO acquire to be successful?
- What organizational and behavioral challenges will the VSMO encounter?
- What actions must organizational leaders take to create an effective VSMO?