What’s strategic sourcing [The ultimate guide]

What is strategic sourcing? [The ultimate guide ]

Strategic sourcing is a structured approach to procurement and supply chain management that focuses on optimizing an organization's product sourcing to achieve long-term goals and objectives. It involves more than just buying products or services; it encompasses a comprehensive strategy to reduce costs, improve quality, enhance supplier relationships, and increase overall efficiency

Simply put, strategic sourcing is all about increasing profitability through an effective procurement process.

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