Delivering strategic sourcing improvement doesn’t just come from finding new suppliers, it starts internally with understanding the business strategy and direction, market intelligence on competitors, customer direction and historical analytics.
Strategic sourcing is the continual improvement and re-evaluation of your vendor matrix. The vendor matrix defines a group of vendors capable of meeting business procurement objectives across category spend, capacity, quality, and sustainability.
Supply Chain Solutions No.22 – Shared vision, value driven attitude and adaptable, does that equal the perfect Supplier?
There are the different reason why sourcing activities need to take place, be it market research, business growth and capacity expansion, market risk and diversification or replacement of existing underperforming vendors.