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Strategic Sourcing in Procurement

Strategic Sourcing in Procurement

Assessment

Presentation

English

University

Practice Problem

Hard

Created by

Марина Левитская

FREE Resource

8 Slides • 19 Questions

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Strategic sourcing in procurement

By Марина Левитская

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In this lesson you will learn what strategic sourcing in procurement is and how it helps companies to achieve their goals.

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Strategic sourcing is a procurement strategy which can help companies to reduce costs, improve processes and increase productivity.

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Strategic sourcing is a systematic process of analyzing expenditures, internal and external influences, and finding out what kind of supplier relationships are necessary to help achieve the company’s goals.

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Before the company decides to purchase a product or service, strategic sourcing is used to consider the total cost of a product or action, not just the price alone.

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​In the past, many purchasing managers neglected the fact that low purchase cost does not necessarily mean low total cost.
In a strategic sourcing process other costs are examined as well e.g. the cost of purchasing, transport, support, maintenance, and disposal.

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In a strategic sourcing process other costs are examined as well e.g. the cost of purchasing, transport, support, maintenance, and disposal.

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Speak about strategic sourcing

  1. What is strategic sourcing?

  2. Why is it important to consider the total cost of a product or service in strategic sourcing?

  3. What costs are examined in a strategic sourcing process besides the purchase cost?

Strategic sourcing in procurement

By Марина Левитская

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