Strategic Global Sourcing Best Practices
For most of its history, the typical purchasing routine was simple: receive a requisition from the user, place the purchase order with the supplier, expedite when necessary, and resolve invoice discrepancies. This process left very little room for decision-making, such as supply sourcing, and even less room for discretion. Not so any more. Today's purchasing and procurement managers and those they report to are seeing their scope of responsibilities increase along with the impact supply management can have on a company's bottom line.Addressing the changing roles, responsibilities, challenges, and emerging opportunities in this rapidly evolving field, Strategic Global Sourcing Best Practices provides a one-stop guide to the best practices, latest trends, and leading-edge processes in supply sourcing operations to maximize your company's bottom line. Authors and industry experts Fred Sollish and John Semanik share their decades of global supply experience to provide you with the latest hot topics currently transforming the field, including sourcing management, financial decisions, risk management, and international strategies.This hands-on reference gives you a step-by-step overview of the strategic sourcing process, including the importance of understanding your corporation's mission and vision statement, environmental analysis, SWOT analysis, assumptions, objectives, strategy, and implementation. The book also explains the supply sourcing operational analysis process and the formation of operational plans and objectives, including spending analysis, supplier performance issues, competition, and outsourcing opportunities, as well as capturing additional spending, improving internal processes, and the analysis of supply market conditions.Accompanied by the authors' robust website offering comprehensive guidance on supply management, Strategic Global Sourcing Best Practices emphasizes the state-of-the-art in strategic supply sourcing and how to leverage it, including:The strategic sourcing planOperational alignment with sourcing strategyImplementing, managing, and outsourcing the S2S processConducting business in other nationsConducting supplier research and market analysisSolicitation of bids and proposalsSupplier evaluation and selectionNegotiation strategy and planningSupplier diversity best practicesSustainabilityRisk management principlesDeveloping a global sourcing strategyNo longer just a static position, procurement has evolved into a vibrant and progressive strategic element in your organization's competitive arsenal. Learn how to harness supply management's profit-boosting potential and achieve higher levels of competitiveness with Strategic Global Sourcing Best Practices.