Strategic Sourcing | Eight Key Steps For Strategic Sourcing
Strategic sourcing covers the long term procurement related activities of an organisation.
8 Fundamental steps for strategic sourcing are:
1) Collect & analyze data what bought in the past.
2) Analyze the forecast for future procurement.
3) Supplier evaluation and past performance.
4) Market research for other potential suppliers.
5) Insource and outsource opportunities.
6) Importance and availability of products in market.
7) Effect of payment terms.
8) Asses the risk associated with suppliers.
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