By fostering fruitful supplier relationships and designing strategically focused outcomes, sourcing and procurement professionals now play a central role in addressing supply chain challenges and thus reaching organizational goals. The procurement functions best fulfilling this elevated role have deliberately developed a comprehensive approach to strategy, processes, measurement frameworks, and supporting tools.
APQC’s Sourcing and Procurement Blueprint for Success is a guide for how procurement professionals can achieve best-practice performance. The report provides a framework for optimizing the core processes comprising sourcing and procurement:
- Provide sourcing governance and perform category management
- Develop sourcing and category management strategies
- Select suppliers and develop/maintain contracts
- Order materials and services
- Manage suppliers
Click here to access the executive summary.