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What is Strategic Sourcing and Why is it Important?

Oxford College of Procurement and Supply

It formalises the gathering, analysis and application of information to assist companies in aligning their purchasing strategy with their goals and securing the best possible value. In this post, we explain what strategic sourcing is, why it is important and how it can be implemented. Why is strategic sourcing important?

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A Comprehensive Introduction to the Government’s SBIR & STTR Program

Govshop

Recognizing the importance of fostering innovation in small businesses, the United States government has established the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The proposal is submitted to the relevant agency during the specified application period.

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A Comprehensive Introduction to the Government’s SBIR & STTR Grant Program

Govshop

Recognizing the importance of fostering innovation in small businesses, the United States government has established the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) grant programs. The proposal is submitted to the relevant agency during the specified application period.

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Master Your Business Classification with the Ultimate Guide to NAICS Code

Select GCR

business data, which holds great significance for policy development and economic analysis. NAICS are structured hierarchically from broad sectors to specific industries and are pivotal for business identification, market analysis, and compliance with regulations and tax requirements.

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Procurement Planning: Steps for Issuing a Solicitation

The Procurement School

A lack of clarity will be reflected in the quality of the solicitation document, the evaluation criteria and the bid submissions. Market Analysis The level of market analysis is dependent on the outcome of the requirements gathering. A more formal method is to issue a Request for Information (RFI).

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Friday Flash 10/20/23

The Coalition for Government Procurement

PAP 2021-05, Evaluation of FSS Program Pricing, is one such example. This PAP fundamentally alters the MAS negotiation process, establishing evaluation standards, requirements, and procedures not found in the Federal Acquisition Regulation (FAR) or the General Services Acquisition Regulation (GSAR).

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Understanding North American Industry Classification System Codes

Select GCR

The process of assigning NAICS codes involves an evaluation of a company’s principal business activities. This evaluation is typically conducted by examining the products or services offered by the business and identifying the primary revenue-generating activities. Census Bureau website or the NAICS Association website.