Strategic Sourcing | White Paper

How to make your Supply Chain more efficient, flexible and sustainable

Recent global crises have challenged the resilience of traditional supply chains. Short circuits in Operations, disruptions in logistics networks, rising shipping costs and longer lead times have highlighted the need for a more strategic and proactive approach to supply management.

In this in-depth study, prepared by our Knowledge Office, approaches and strategies are shared to:

• manage and diversify supply risk to ensure business continuity
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• reduce costs associated with the procurement of components and raw materials
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• shorten the distance and delivery time of supplies.

The strategic approach to Sourcing has turned into a priority for companies that want to:

✔ Diminish costs related to sourcing of components and raw materials

✔ Diversify, but also mitigate procurement risk by qualifying internal processes, certifications, and supplier performance.

✔ Reduce distance and lead times of supplies

This means focusing on optimizing the supply chain through careful analysis and selection of suppliers and going beyond tactical purchasing by incorporating a number of important evaluation factors such as quality, sustainability, and the ability to respond promptly to the needs of a changing market.

Strategic Sourcing involves structured processes such as supplier selection based on:

• detailed market analyses
• building strategic partnerships
• the implementation of innovative industry 4.0 tools for performance evaluation.

The ultimate goal is to ensure a robust Supply Chain, capable of adapting to changes in the geopolitical and technological environment, thus contributing to the long-term success of the company.

Download our full white paper to find out how to implement Lean World Class Procurement® in your company and transform your Supply Chain.