Procurement Manager Question:
Explain me how Do You Build a Sourcing Strategy?
Answer:
The first step of building a sourcing strategy is creating a Savings Strategy Outline. A Savings Strategy Outline will list all tasks that you plan to accomplish during a sourcing initiative. For each of those tasks, you will list target commencement dates, actual commencement dates, target completion dates, actual completion dates, target annual savings and actual annual savings. Obviously, at the beginning of your sourcing initiative, your Savings Strategy Outline will only contain target dates. But, as you progress through your sourcing initiative, you will add actual dates.
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