Strategic Sourcing with Foresight

How to mature strategic sourcing in the chemical industry – concepts & real-life examples

Strategic sourcing describes the process of identifying and buying the goods and services required for operations from the right sourcing markets and the best suppliers. Successful sourcing teams of the future focus on top and bottom line contributions and aim to deliver value beyond cost reductions.

Sourcing teams face various target conflicts in their day-to-day operations. These target conflicts result from the objective to deliver the best value contribution, while managing the meta targets of price, quality, reliability & risks and innovation at the same time. The different dimensions can be further detailed and separated into strategic and operational tasks. With the development and implementation of robust sourcing strategies, these target conflicts can be resolved.

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