Strategic Sourcing: Concepts, Principles and Methodology
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To successfully implement strategic sourcing, companies must know their most important goods and services and determine how vital they are to day-to-day operations, as well as to achieving longer-term business goals. Strategic sourcing takes on a new approach of collaboration of constituents across supply chain to better serve downstream customers that would result in enhancing longer-term profit enhancement. This chapter outlines strategic sourcing concepts, principles and methodology for executing the sourcing strategy.