In the world of procurement, the term 'strategic sourcing' is often limited to direct purchasing, or supply chain management. Below is probably the best definition of strategic sourcing were able to find which accurately articulates our own understanding of the combination of the words 'strategic' and 'procurement':
"There are numerous definitions of Strategic Sourcing. Most of these definitions are unhelpful, using either academic of management consultants pseudo-intellectual language to explain what is a straightforward, but important, concept... Strategic Sourcing is an approach to procurement whereby the business needs of the organization are matched with the supplier market. It is much more than simply centralizing procurement. The approach is founded on a detailed understanding of both the spend profile of the organization as well as of the supplier market. This understanding is continually updated in order to deliver ongoing improvements to the organizations sourcing and procurement performance."
ProcurementDesk and Strategic Procurement
Since the current ProcurementDesk team has focused their energy and time on the more indirect categories of spend, our experience is strategically aimed at maximizing savings in the following spend categories:
1. IT: Hardware, software, and the costs around cloud storage.
2. Telecom: All corporate communication needs including mobile, interoffice, interstate, teleconferencing, and international.
3. The Mitigation of Security Risks: Physical and digital.
4. Marketing: Print, outdoor, and digital.
5. Services: Most service categories applicable to the DOL rates.
Contact us today to learn more about our strategic category management services in order to maximize your results.