STRATEGIC SOURCING
Strategic Sourcing is a critical aspect of Supply Chain management of your organization success to manage with sustainable eco condition and it has evolved significantly over the years. While dive into some key points about Strategic Sourcing and explore how it can drive value for organizations.
Strategic Sourcing Defined
- Strategic Sourcing goes beyond traditional procurement. It involves a structured process of analyzing an organization spend and making informed decisions about obtaining commodities and services more economically and essentially
- Rather than aiming solely on finding the lowest price, Strategic Sourcing aims to optimize value, mitigate risks and build strong supplier associations
The Shift in Sourcing
- Globalization and hasty, but positive technological progressions have shifted the basis of context. It’s now more about managing and enhancing essential capabilities, regardless of whether they are internal or external
- Core tasks like Engineering, R&D, Manufacturing and Marketing can now be farmed out essentially
Our Approach to Strategic Sourcing
- A leading facilitator of Strategic Sourcing and outsourcing solutions, this provider assists enterprises in deploying sourcing tactics that lead to substantial savings in expenditures
- Our capabilities span into
- Diverse category experts and sourcing consultants across industry
- Teams specializing in supply market intelligence and analytics
- State-of-the-art analytical and E-Sourcing tools adaption
- A vast database of global suppliers
- Best-practice procedures and specialized patterns
- Local teams across major markets worldwide
Our Holistic Sourcing Strategy
Our approach goes beyond unit price reduction. We provide prudent approach towards consultative approach on with our selection criteria paramount.
- Spend Consolidation
- Demand Management
- Product Rationalization
- Value Improvement
- Should-Cost Analysis
- Operational Cost Reduction
- Continuous Improvement
- Low Cost Country Sourcing
Our Flexible Delivery Approach
- We tailors solutions to specific goals, running both multiyear programs and short-term, category-specific engagements
- They supplement in-house expertise and drive savings targets
Direct Vs Indirect Sourcing
- Direct Sourcing: Ensures continuity of production and sustains the company’s bottom line (e.g., raw materials, components).
- Indirect Sourcing: Focuses on systemic issues (e.g., Maverick buying, services) that impact cost control.
- Managing both types strategically contributes to long-term financial health and stability.
