8

Strategic Sourcing

Purchasing should be concerned with the strategic planning aspects of procurement process

 

—Ben Lapner”

Chapter Objectives

To understand:

  • Role of procurement in supply chain
  • Prevailing procurement practices
  • Strategic procurement process
  • Strategic sourcing vs. traditional sourcing
  • Success factors in strategic sourcing

 

Framework of Strategic Procurement Process

 

Framework of Strategic Procurement Process

 

Strategic sourcing is a process aimed at obtaining maximum advantage on cost, technology, process and quality by leveraging the company's buying power. Strategic sourcing is one of the key methods that purchasing departments are using to lower costs and ...

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