Strategic sourcing is not just finding the lowest price for goods or services, involves developing long-term relationships with suppliers to create value for the company. The process involves a structured approach to analyzing and managing the supply chain, including identifying sourcing opportunities, selecting suppliers, negotiating contracts, and managing supplier performance. The goal of strategic sourcing is to maximize the value of the company’s spending while minimizing risk and ensuring high-quality goods and services. Effective strategic sourcing can help companies reduce costs, improve quality, and enhance supplier relationships.
We deploy a structured methodology, starting with establishing category cost baselines, identifying the total cost breakdown, and analysing the suitable supplier markets. From this we recommend appropriate strategies for the category.
We leverage our team’s extensive experience across a wide range of categories and sectors to develop effective sourcing strategies that encompass activities such as drafting RFI/P, conducting proposal assessments, and negotiating to achieve optimized sourcing outcomes We utilize various tools & strategies that are appropriate and effective for both direct and indirect expenditure, incorporating methods such as-
Cost Effective Country Sourcing (Technology rich - Asian countries).
Cost Driven Engineering (Value Engineering).
Contract Manufacturing (Outsourcing).
Spend Analysis.
Total Cost Of Ownership (tco) Analysis.
Market Analysis.
Supplier Evaluation And Selection.
Negotiation.
Contract Management.
Supplier Relationship Management.
Our procurement service transforms the traditional procurement from being just an operational cost center to a strategic and value-driven partner for other departments in the organization. We enable cross-functional teams to collaborate &share knowledge and develop new skills while actively involving stakeholders at everystage of the procurement process. Our expertise in conducting comprehensive spend analysis across the entire company enables us to provide sourcing strategiesand negotiate with suppliers based on data-driven insights and knowledge.
