Strategic sourcing is the continuous procurement process of discovering, prioritizing, improving, and re-evaluating sourcing activities read the following 10-step guide to learn about practices that have helped best-in-class companies achieve substantial cost savings and other sourcing objectives. What is strategic sourcing definition: a systematic and fact‐based approach for optimizing an organization's supply base and improving the overall value proposition. The classic procurement process still provides a benchmark for corporate fleet purchasing executives for many procurement professionals, a t kearney's seven steps for strategic sourcing represents the blueprint for purchasing procedures. Annual subscription to supply management magazine 10 per cent discount on all training courses , workshops, seminars and conferences up to 15 per cent discount on books from the cips book store, including course books and a range of further reading text books.
Seven steps for strategic sourcing note 1: the following is my simple version of a procurement department's revision of at kearney's seven steps for strategic sourcing i came across at kearney's and the procurement's version while consulting on an rfp process. Jeremy roberts, sphr, is vp, customer experience at hiringsolved he is the previous editor of sourcecon prior to joining the ere media team, he spent over a decade working as a recruiter, sourcer, and sourcing manager. Sourcing process evaluation summary darlene swanagan university of phoenix iscom 373 bruce betts september 13, 2010 the method of sourcing is an organized procurement process that is geared to continuously improve and reexamine the purchasing methods of a business.
#2 the 7 step strategic sourcing model assumes that sourcing project is a good one some projects are dogs and even in a best case scenario will have a negative roi, but consultant, billing for their time, can afford to chase every project that comes their way. In most organizations the buying process is one of the most important activities that the business performs - its responsible for committing company money and facilitating customer satisfaction for many its as a complex mix of activities however it can be easily boiled down to a series of sequential steps. Features of these powerpoint presentation slides: presenting procurement 7 steps strategic sourcing process ppt example this is a procurement 7 steps strategic sourcing process ppt example.
Sourcing by helen clegg and susan montgomery sourcing information products is a complex exercise involving many variables in today's uncertain business climate, information budgets are sensitive to scrutiny and constantly under threat. Definition of sourcing i - strategic sourcing the first sourcing definition ie strategic sourcing is a concept that was popularized by major consultancy companies in the late 1980's 1990's and is now considered a standard purchasing strategy used by many blue chip companies. The 7 steps to successfully sourcing products in china by gary mcblain, managing director, ebl global the opportunity as a progressive business owner or purchasing manager, one of your most.
Following these 7 steps will take away your initial fears of course, you can never be 100% protected, but the chance of you being scammed if you use these simple filters is absolutely minimal this allows you to take the next step and start with a sample order so that you can check the quality of the product and the reliability of the supplier. In 2001, management consulting firm at kearney developed a 7-step strategic sourcing methodology to help companies evaluate suppliers on costs, quality and services provides since that time, a majority of supply chain companies have adapted the program to leverage their strategic sourcing initiatives (ssi. Strategic sourcing: a step -by-step practical model robert j engel, vice president -project services the procurement centre 713-623-0111 ext 224 [email protected] 89th annual international supply management c onference, april 2004 abstract we hear and read a great deal of information in our supply chain profession about strategic sourcing. Each step of the sourcing methodology is presented below with coordinating operational forms through the competitive bid process, as detailed in the georgia procurement manual, the state of georgia ensures that all suppliers have equal access to conducting business with the state.
Successful china industrial sourcing is the result of a systematic approach and hard work shortcuts may seem smart, but most often, they result in bad surprises, delays or failure by following the 7 steps described on this page, buyers will avoid common sourcing pitfalls and increase their chances of success. Creative sourcing of talent must now include digital platforms, as well as creative engagement with talent ecosystems savvy organizations will create physical and virtual networks to facilitate community building, deliver access to valuable skills training, generate feedback and create access to potential new roles and projects. Category management and strategic sourcing defined category management is an approach the federal government is applying to buy smarter and more like a single enterprise category management enables the government to eliminate redundancies, increase efficiency, and deliver more value and savings from the government's acquisition programs. This feature is not available right now please try again later.