Strategic Sourcing

The Strategic Sourcing process is a rigorous methodology that involves detailed analysis of current spend, market landscape, and potential options to address a business need for a more competitive cost structure.

The targeted outcome of any Strategic Sourcing initiative is aimed at:

Cost reduction
Margin enhancement
Cash flow improvement
Risk mitigation
Strengthening key supplier relationships

Typical business challenges that can be addressed through a Strategic Sourcing exercise include:

Choosing the right supplier partners
Mitigating impact of market forces on required purchases over the longer-term
Where to look for meaningful cost savings
Identifying the right mix of purchased goods and services to adequately support the business
Visibility into whether current purchase costs are market competitive

The Creovia Group offers expertise in the following areas:

Market research
Category spend profiles
Benchmark pricing / "Should Cost" models
Payment terms analysis
Formal category strategies
Strategic negotiation support
Supplier scorecarding and competency evaluation