Strategic Sourcing Best Practices

Strategic sourcing is a well-planned, ongoing process of determining, prioritizing, enhancing, and re-evaluating sourcing activities. Every organization looking at gaining control over their supply chain activities should consider implementing the key strategic sourcing best practices.

To aid those looking at developing strategic sourcing capabilities, we’ve curated a list of the top strategic sourcing best practices that have helped best-in-class businesses to achieve their sourcing objectives:

• Make technology work for you
• Collaborate with key suppliers
• Focus on TCO
• Optimize inventory
• Adopt green initiatives

Strategic Sourcing Steps

Step 1: Perform a supply market analysis

Step 2: Profile the category

Step 3: Develop the strategy

Step 4: Adopt the right sourcing process

Step 5: Negotiate and select suppliers

Step 6: Implement and integrate

Step 7: Benchmark and track the results

About the Client

The client is a global leader in the residential construction sector.

Continue reading to gain in-depth insights into strategic sourcing best practices or Request a FREE proposal.