Tag Archives: procurement

7 Steps To Follow In The Strategic Sourcing Process

7 Steps To Follow In The Strategic Sourcing Process

Strategic Sourcing is the process of continuously improving and re-evaluating the buying activities of a company.

Strategic sourcing involves several steps such as analysis of spend or expenditure, market research to identify qualified suppliers, negotiation of price and discounts, and finalizing the terms and conditions in a contract.

In this video, lets look at the 7 steps to follow in the strategic sourcing process.

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Top 3 Strategic Sourcing Best Practices

Top 3 Strategic-Sourcing Best Practices

In the cost structure and competitiveness of small and big enterprises, strategic sourcing skills play an important role. These skills involve analysing high-volume purchases and developing long-term partnerships with a select group of suppliers capable of providing low-cost quality products and services.

High-volume acquisitions are the strongest candidates for strategic acquisition because they are expected to have the greatest effect on lower cost structures.

In this video, lets take a quick look on the Top 3 Best Practices followed in Strategic Sourcing.

6 Benefits of Strategic Sourcing

6 Benefits of Strategic Sourcing

Strategic sourcing takes into account all processes that take place during the procurement period, from specification to receipt and payment of products and services. As a consequence, companies using Strategic Sourcing will build supply chains at the lowest overall cost, not just the lowest purchase price. In this video, lets look at the top 6 benefits of Strategic Sourcing.

Top 5 e-Sourcing Software Tools in 2020

Top 5 e-Sourcing Software Tools in 2020

To perform business-to-business e-commerce, e-Sourcing software is required to create an electronic venue for buyers and suppliers. It also streamlines workflows for better control of the supply chain and management of spending. E-sourcing software improves flexibility between buyers and suppliers and drives accountability. In this video, let us look at the top 5 E-Sourcing Software tools.

Difference between Sourcing and Procurement

Difference between Sourcing and Procurement

What is the difference between Sourcing and Procurement? Take a look at this video to learn more.