Firms compete on value, not cost alone. However, sourcing decisions are often heavily weighted towards minimizing costs, even though these decisions also can affect revenue, risk, and other stakeholder values. To address this disconnect, we introduce a new approach to strategic sourcing, “total value contribution” (TVC). The TVC name by itself promotes attention to value. TVC's structured approach begins with the question: “what do our customers, current and future, value about our products?” The TVC approach builds on insights from the literature on individual and group decision‐making to offset human biases and organizational incentives that emphasize cost reduction. TVC builds on gains already achieved by “total cost of ownership” (TCO) sourcing methods, which broadened the list of factors considered in sourcing. We provide examples of TVC‐like thinking in real organizations and argue that such thinking would be more common with the dissemination of TVC. We also provide access to a version of this JOM Forum piece suitable to assign to students, and discuss a new teaching note which describes how to implement TVC in a popular strategic sourcing teaching case. We believe widespread implementation of TVC would improve both organizational and social outcomes.

中文翻译：

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价值第一，成本随后：总价值贡献作为采购决策的新方法

企业在价值上竞争，而不是仅凭成本竞争。但是，即使这些决策也会影响收入，风险和其他利益相关者的价值，但采购决策通常都将重心放在最小化成本上。为了解决这种脱节问题，我们引入了一种新的战略采购方法，即“总价值贡献”（TVC）。TVC名称本身可以促进人们重视价值。TVC的结构化方法首先提出以下问题：“我们的客户（当前和未来）对我们的产品有何价值？” TVC方法基于文献中有关个人和团体决策的见解，以抵消强调降低成本的人为偏见和组织激励。TVC建立在“总拥有成本”（TCO）采购方法已经获得的收益的基础上，从而扩大了采购中考虑的因素清单。我们提供了在实际组织中类似TVC的思维的示例，并认为这种想法在TVC的传播中会更加普遍。我们还提供了适合于分配给学生的此JOM论坛文章的版本的访问权限，并讨论了新的教学笔记，其中描述了如何在流行的战略采购教学案例中实施TVC。我们认为，TVC的广泛实施将改善组织和社会成果。