Strategic Sourcing

Procurement is defining its own culture: processes have had to become sharper and faster to be able to deliver in ever-tighter competitive environments. Sourcing no longer equates to instant cost gratification, but is now defined as a strategic component used to drive maximum competitive advantage.

Strategic sourcing is itself a benchmark. It relates to getting the best products and services at the best value. It is designed to segment external spend and ensure that procurement resources are focused on the most important categories. What sets strategic sourcing apart is its continuous attention to improving and re-evaluating the purchasing activities of a company, thus enabling organisations to adapt to changing market forces.

Understanding the needs of the client

Their issues range from delivering cost savings to the bottom line; sourcing effectively from low cost regions; working together with suppliers to deliver value for the longer term through to developing talent within the procurement team. These challenges are often intensified by addressing them in complex, international, multi-functional environments.