Categories: Thought Leadership
As we navigate the challenges presented by the materials shortage, Brexit and the pandemic recovery, procurement has never played a more important role in bringing businesses and communities together.
Strategic sourcing is the process of maintaining long-term relationships with suppliers in order to reduce the complexity of the supplier base through strong communication.
Many public sector organisations use strategic sourcing to ensure that they have access to an efficient supply of the goods and services that are critical to the day to day to running of their organisation.
The value of strategic sourcing has increased in recent years, and organisations have adopted more effective methods of procurement to drive value and increase transparency throughout the process.
Strategic sourcing is at its best when your whole organisation buys into it. When all departments throughout a company make an effort to work together, your strategic procurement team can make an informed plan for setting the overall direction for procurement aligned with your company’s business strategy.
Your company’s procurement strategy is one of the most important tools to help maximise its value proposition and serves as a guide for your organisation as it aligns with your overall business strategy.
More about Pagabo’s approach to strategic sourcing can be found on our frameworks page.
View our frameworks or contact us today: