![]() ![]() Performance measurement: Establish metrics to measure the performance of the sourcing strategy and make adjustments as needed.Implementation plan: Develop a detailed implementation plan, including timelines, resource requirements, and risk management.Sourcing tactics: Determine the sourcing tactics to be used to achieve the sourcing objectives, such as competitive bidding, supplier consolidation, or sole sourcing.Sourcing objectives: Define the organization’s sourcing objectives, such as reducing costs, improving supplier performance, or reducing risk.Category analysis: Identify the key categories of spend that the organization needs to focus on, based on factors such as spend volume, supplier dependency, and strategic importance.Supplier analysis: Evaluate the current supplier base, including supplier performance, capacity, and cost.Spend analysis: Analyze the organization’s spending patterns and identify areas where cost savings can be achieved. ![]() How do you approach creating a sourcing strategy?Ĭreating a sourcing strategy involves several steps, including:
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