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What's Strategic Sourcing?

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Question ajoutée par Alex Al Yazouri , General Manager , Al Mushref Cooperative Society
Date de publication: 2014/12/22
Alex Al Yazouri
par Alex Al Yazouri , General Manager , Al Mushref Cooperative Society

Is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company.

Ahmed El Zohiry
par Ahmed El Zohiry , Director of Product Operations and Business Effectiveness , Tangerine Bank

Strategic sourcing is a process where you value and monopolize and utilize historical financial data to understand the business needs, market trends and prepare a future strategy. Your main goal is to think how you will spend this money more wisely and what are the best ways available to maximize the value of my business (spend). It is a planning process that's usually applied in large global organizations as part of leveraging their negotiation power.

Basit Ali
par Basit Ali , Director of Engineering , Laverda Suites & Villas / Blue Bay Resorts

A method of managing procurement processes for an organization in which the procedures, methods, and sources are constantly re-evaluated to optimize value to the organization. Strategic sourcing, which is considered a key aspect of supply chain management, involves elements such as examination of purchasing budgets, the landscape of the supply market, negotiation with suppliers, and periodic assessments of supply transactions.

Mohd Mustaqeem
par Mohd Mustaqeem , Executive Secretary , SAUDI PAN KINGDOM CO

  1. Strategic sourcing is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company. In a production environment, it is often considered one component of supply chain management.

Elke Woofter
par Elke Woofter , Project Assistant , American Technical Associates

For me it is evaluating the needs of the company and finding the same or better quality product for a better price and a shorter lead time. I copied Wikipedia's definition below.

 

"Strategic sourcing is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company. In a production environment, it is often considered one component of supply chain management. Strategic sourcing techniques are also applied to nontraditional areas such as services or capital."

جعفر هندي زين السقاف
par جعفر هندي زين السقاف , "Certified trainer by the Yemeni Engineers Syndicate." , Engineers Syndicate

Agreed with all colleagues answers

Utilisateur supprimé
par Utilisateur supprimé

Agree with the members

Mohamed Hamdy Kamal Riad
par Mohamed Hamdy Kamal Riad , Senior Solution Architect , IBM

Thank you for the invitation

I think that our friends already answered . 

Based on Wikipedia, Strategic sourcing is an institutional procurement  process that continuously improves and re-evaluates the purchasing activities of a company. In a production environment, it is often considered one component of supply chain management. Strategic sourcing techniques are also applied to nontraditional areas such as services or capital.

Muhammad Rizwan
par Muhammad Rizwan , Executive Procurement (Technical) , FFCL

Mere sourcing is to link the requirement with source. Strategic Sourcing adds refining of Suppliers, making their tiers, evaluation, rating , performance, their training, partnership, costing optimization etc.

Muhammad samran
par Muhammad samran , Junior Officer/Project Coordinator , Pakistan Stell Mill

strategic sourcing used for downsizing and cost reduction in mega corporations. This is often done to allow a business to arrange the use of its assets to best advantage, and allow the company to move closer to the achievement of its goals.

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