Day: March 11, 2022

The concept of strategic sourcing was popularized in the 1980s and 1990s and is now considered a standard purchasing strategy used by blue chip companies. Strategic sourcing refers to the process of taking advantage of purchasing opportunities by continually reviewing Read More …

1. Initiation/ preparation 2. Identification of priorities 3. Preparation of strategy 4. Implementation of the changes 5. Maintain the level of performance 6. Continuous improvement

1. Organisation structure –it defines responsibility, authority and power of procurement department. 2. Efficient procurement process –the approvals, conditions, risk, supply chain management process, negotiation, measurement are going to affect the efficiency of the category management. 3. The people. 4. Read More …

1. To raise the profile and competency of procurement across the organisation. 2. Savings. 3. Improvement of service levels. 4. Product availability. 5. Value for money is realised. 6. Reduction of risk in supply 7. Delivery of world class procurement Read More …

1. Better management of resources. 2. To manage and exploit changing business condition. 3. Supplier consolidation. 4. To enable one to leverage resources e.g. people, knowledge, expertise 5. Minimize supply chain risks. 6. Improved quality and services. 7. Leverage presence Read More …