The first step for the newly created corporate sourcing team is to deliver the project charter. This charter serves as a formal document that outlines the project's objectives, scope, stakeholders, roles, and responsibilities. It provides a clear foundation and direction for the project, ensuring all team members and stakeholders are aligned. The charter acts as a roadmap, guiding the team through the project's execution and helping to manage expectations and resources effectively.
References:
* Project Management Institute (PMI) standards on project charters.
* "Strategic Sourcing and Category Management" by Magnus Carlsson.
* Corporate sourcing best practices from CIPS (Chartered Institute of Procurement & Supply).