Question

Which of the following are stages (in order) in the strategic sourcing process?

a. Plan, source make, deliver, return.
b. Analyze, procure, source, pay
c. Plan analyze, source, make, pay
d. Analyze, source, bid/negotiate contract, procure, reconcile and pay.
e. Plan, source, bid/negotiate, procure, pay

Answer 1

Analyze, source, bid/negotiate contract, procure, reconcile and pay are stages (in order) in the strategic sourcing process.

Strategic sourcing is a procurement method that integrates data collection, spend analysis, market research, negotiation, and contracting. It does not include the actual purchase and payment for goods and services.

Strategic sourcing is a supply chain management approach that formalizes the way information is gathered and used so that an organization can use its consolidated purchasing power to find the best possible marketplace values and align its purchasing strategy with business goals.

Examples of strategic sourcing scenarios: Selection of a new customer relationship management software.

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