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Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price.It expands upon traditional organisational purchasing activities to embrace all activities within the procurement cycle, from specification to receipt, payment for goods and services [1] to sourcing production lines where the labor market would increase firms' ROI. [2]
Hans Dau is the author of the book "Strategic Sourcing Theory and Practice", 2nd edition, 2022 ISBN 9798352777046 [12] and a frequent contributor on the subjects of Strategic Sourcing and supply chain management for Bloomberg, [13] [14] [15] The Washington Times, [16] and other publications. [17] [18] [19]
Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1] The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done.
Global sourcing initiatives and programs form an integral part of the strategic sourcing plans and procurement strategies of many multinational companies. Global sourcing is often associated with a centralized procurement strategy for a multinational, wherein a central buying organization seeks economies of scale through corporate-wide ...
Indirect procurement is the sourcing of goods and services not related to manufacturing for a business to enable it to maintain and develop its operations. The goods and services classified under the umbrella of indirect procurement are commonly bought for consumption by internal stakeholders (business units or functions) rather than the external customer or client.
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The end product of these first two levels of analysis is a list of capability gaps. Functional solutions analysis (FSA) evaluates solutions from an operational perspective across the DOTMLPF spectrum. The FSA results in a list of potential need-based solutions and is further divided into three subcomponents: non-materiel analysis (DOT_LPF ...
Category management is an approach to the organisation of purchasing within a business organisation, also often referred to as procurement.Applying category management to purchasing activity benefits organisations by providing an approach to reduce the cost of buying goods and services, reduce risk in the supply chain, increase overall value from the supply base and gain access to more ...