89th annual international supply management c onference, april 2004 abstract we hear and read a great deal of information in our supply chain profession about strategic sourcing it is one of the most powerful tools that supply chain professionals and.
A periodic review of the sourcing strategy ensures achievement of desired results and continued alignment with business objectives some of the sourcing strategies that are used in supply chain management today include.
Although some people use supply chain, procurement and sourcing interchangeably, they actually refer to different aspects of the same part of business -- much the way that the legs and seat are all part of a chair but are not the same. The supply chain consists of everybody involved in getting your product in the hands of a customer it includes raw material gatherers, manufacturers, transportation companies, wholesale warehouses, in-house staff, stock rooms and the teenager at the register.
Strategic sourcing is an approach to supply chain management that formalizes the way information is gathered and used so that an organization can leverage its consolidated purchasing power to find the best possible values in the marketplace. The essentials of supply chain management strategic sourcing: cost management cost management has taken on increasing importance in all aspects of the business and in no part of the business is it any more critical than in procurement and sourcing activities. Strategic sourcing and supply management is about selecting the right suppliers and integrating them with the client’s business processes to improve their customer’s experience at the lowest total cost.
Why companies should consider strategic sourcing by bisk in today’s competitive business climate, supply chain management professionals are constantly seeking out creative ways to reduce costs, assure and improve the quality of the final product and achieve a faster time to market. Supply chain acuity’s strategic sourcing and supply management service helps our clients successfully leverage their supply base and key outsourcing providers to drive supply chain value in a strategic sourcing engagement, we help clients develop a sourcing strategy, conduct market analysis, create and administer an rfi or rfp, develop a.