Understanding Sourcing and Procurement Processes

Published On:
January 19, 2024
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To objectively assess, manage, and compare procurement performance, organizations need a standard framework for classifying and defining processes. APQC’s Process Classification Framework® (PCF) addresses supply chain management — and within that subset, sourcing and procurement. This article details the elements in the PCF relevant to procurement, as well as defines the specific sourcing and procurement processes and key activities to assess, manage, and benchmark.