The Strategic Sourcing Process
Other Procurement Initiatives
Let Source One’s Spend Analysis team do the heavy lift to collect, cleanse, classify, and visualize your spend data to give your team enhanced visibility into opportunities to improve spend under management and your business’ bottom line.
Spend Analysis Services
Trust the pedigree of Source One’s Procurement Advisory team to help your organization get a clear roadmap to improve your procurement people, processes, tools, and technology and make “best in class” into “best for you.”
Strategic Sourcing Strategy Development Services
Backed by decades of market intelligence and strategic sourcing expertise, Source One offers customized sourcing strategy development services to help your organization conduct the most effective market assessments for your specific spend categories.
Buyers have many strategies from which to choose in implementing a strategic sourcing initiative. The challenge is pinpointing the strategy that will deliver the optimum solution. Since 1992, Source One’s strategic sourcing experts have helped industry-leading companies design and execute strategic sourcing projects that have delivered billions of cost savings and enhanced category performance. Trust our go-to-market design team’s industry and category subject matter expertise to develop a strategic sourcing strategy custom-fit for your business’ needs.
Source One’s sourcing strategy development experts understand that the way suppliers are approached depends on a variety of factors, such as the product or service being sourced, the requirements for that specific commodity, and the current market conditions. Trust Source One’s sourcing strategy development experts to help your procurement team:
- Sort products or services being sourced into tactical, leveraged, critical, or strategic classifications
- Classify the spend to allow for proper resource allocation and an easy determination of the sourcing strategies to execute
- Pinpoint those spend categories that have the greatest need for improvement and those that require less attention along the way
- Focus on lowering the risk of supply loss and the cost of the product or service
- Decide between soft negotiations with an incumbent and a full competitive bid scenario
- Choose whether to utilize RFI, RFP, or RFQ models
At the end of the sourcing process, buyers want to hold a best-in-class agreement in their hands. Choosing the right sourcing strategy – customized to your company’s needs, industry, and spend categories, makes that outcome more likely. Contact Source One’s Go-to-Market strategy experts today for help designing the best strategic sourcing approaches for your specific spend categories.