Strategic Sourcing

Outline

The outline on the topic of Strategic Sourcing is given as under:

Introduction

This section of the paper clearly explains the concept of Strategic Sourcing. The current context of business requires organizations to rethink their approach to purchasing and logistics and should consider this area in a strategic way.

Thesis Statement

In this part of the paper, the statement regarding the strategic sourcing is given. This is based how it provides in businesses reducing costs and efficient processes.

Background

This section of the report highlights the background of the topic. The procurement sourcing solution enables organizations to benefit from immediate experience and external support in their purchasing activities.

Key Objectives

The main objectives of Strategic Sourcing are addressed in this section. Cost reduction and efficient processes are the major aims of the concept.

Importance

In this part of the paper, the importance of Strategic Sourcing for businneses is mentioned. The idea of strategic sourcing provides business competitive advantage by reducing costs.

Strategic Sourcing - A Tool for Competitive Advantage

Strategic sourcing enables companies to gain several advantages and benefits in order to build and maintain relations with the key vendors and suppliers.

Conclusion

This section concludes the topic of Strategic Sourcing along with the key and main points of the paper.

Introduction

The Strategic Sourcing is used by large enterprises aiming at continuous improvement of processes in order to reduce costs and increase the performance of the organization and is characterized by steps in structuring and application of knowledge in project management (Tan, 2002, pp. 42-53). In fact, competition in the economy has proven that the use of the Strategic Sourcing brings enormous benefits in processes and transparency to the shop area when it comes to trading. In the current economic scenario where companies must do more with less, this methodology, which provides direct cut in spending on shopping, you can reward them with immediate cost savings. The research indicates that where 74% of companies surveyed reported that the main reason for its use is the pressure to reduce costs, then the need to develop management strategy by category with 62% (Carr & Smeltzer, 2000, pp. 40-54).

The Strategic Sourcing are used by large enterprises aiming at continuous improvement of processes to reduce costs and increase the performance of the shopping area, is characterized by steps in structuring and application of knowledge in project management. The structure allows for steps in a process that, in addition to identifying the detailed flow of purchase of the product or service provider is also studying the market, its trends and forces, raising the total cost of supplies research models, helps organizations improve their supply base, performs quotes, trades and finally implements processes and contracts, ensuring the monitoring and management of their performance (Ellram et. al., 2002, pp. 83 - 95).

Thesis Statement

Strategic Sourcing helps to provide businesses reducing costs and efficient processes.

Background

The current context of business requires organizations to rethink their approach to purchasing and logistics and should consider this area in a strategic way. In fact, today two out of three managers consider that purchases are a source of ...