Original Source: Business Directory

“A method of managing procurement processes for an organization in which the procedures, methods, and sources are constantly re-evaluated to optimize value to the organization. Strategic sourcing, which is considered a key aspect of supply chain management, involves elements such as examination of purchasing budgets, the landscape of the supply market, negotiation with suppliers, and periodic assessments of supply transactions.”

Read more: http://www.businessdictionary.com/definition/strategic-sourcing.html

Contributors: Open Source
Categories: SIG U Resource
SRC Type: Sourcing, Strategy