The document introduces a new centralized sourcing strategy and model. It outlines objectives to streamline sourcing processes, ensure cost effectiveness, and align the sourcing model with company initiatives. The sourcing centralization process is divided into three phases - Visualize, Formulate, and Deploy - to optimize tools, define strategies, and promote continuous improvement. Accomplishments so far include implementing the new model across regions, educating teams on sourcing methods, and identifying opportunities to enhance diversity.