7 Step Strategic Sourcing Process

Strategic sourcing is a process used to determine the most cost effective way to acquire goods and services while meeting customer requirements. It involves seven simple steps to ensure optimal results. The steps include strategy assessment, spend analysis, supplier market analysis, request for proposal (RFP), supplier selection, negotiation and contract management.

Table Of Content:

• Understanding The Famous 7 Step Strategic Sourcing Process
• A. T. Kearney's Seven Steps for Strategic Sourcing | AIPTS
• Seven Step Strategic Sourcing Process | ProcurePort
• What is the 7 Step Strategic Sourcing Process in Retail?
• The Strategic Sourcing Process Divided into 7 Steps - Tradogram
• The 7 Steps in the Strategic Sourcing Process
• The Famous 7 Steps of Strategic Sourcing
• The 7 steps of a strategic procurement process - Trade Ready
• The 7 Step Strategic Sourcing Process!
• 7 Steps of Strategic Sourcing Process - Explained in Details

What is strategic sourcing?

Strategic sourcing is a process used to determine the most cost effective way to acquire goods and services while meeting customer requirements.

What does the strategic sourcing process involve?

The strategic sourcing process involves seven simple steps: strategy assessment, spend analysis, supplier market analysis, request for proposal (RFP), supplier selection, negotiation and contract management.

How can I ensure optimal results when using a strategic sourcing process?

Following each of the seven steps carefully can help ensure optimal results when using a strategic sourcing process. Proper planning and research are key to achieving success in this regard.

Conclusion:
Strategic sourcing can greatly reduce costs and improve customer satisfaction when done correctly. Careful planning must be done before beginning the process then followed up with diligent execution of each step in order to achieve the desired outcome.