Secret Sourcing – The 7-Step Method to find, source, & import ANY product from ANYWHERE in the world Download
The 7-Step Method to find, source, & import ANY product from ANYWHERE in the world
The 7-Step Method to find, source, & import ANY product from ANYWHERE in the world By Secret Sourcing
What is Strategic Sourcing?
Strategic Sourcing is a procurement process that creates efficiency across all activities within the procurement cycle to secure the best possible price for a product or service. The main objectives are to save money and improve the acquisition process, supplier performance, and minimize risk.
Strategic sourcing focuses on the shared gains in a collaborative relationship. Strategic partners look for new innovative ways for your products and services. In turn, they want your commitment to the long-term strategic partnership.
In this article, we introduce one of the best practices used by many procurement professionals. No matter the purchasing size, the 7-step strategic sourcing practice, originally developed by A.T. Kearney, has been tested and proven effective for sourcing products and services. The final results could be cost-saving, greater value-added and time saved.
Step 1: Profile The Category
The first step is to identify the sourcing category or commodity, including the volumes (quantity, types and sizes) spent on products and services, current prices and suppliers, and specification details. Also, don’t forget to analyze your users – who they are, where they are located – and departments involved in the supply chain.
Step 2: Supply Market Analysis
Understand your buyer power and category critically to position the sourcing strategy by performing market analysis. Then, you determine what strategy approach better fits with the type of service you’re sourcing.
Sale Page : https://www.suppliergateway.com/2021/08/05/understanding-the-famous-7-step-strategic-sourcing-process/
