Remove Quantity Remove Supply Chain Remove Total Cost of Ownership
article thumbnail

What is Strategic Sourcing and Why is it Important?

Oxford College of Procurement and Supply

Strategic sourcing is a contemporary approach to supply chain management. The main difference relates to cost. In contrast, strategic sourcing focuses on the total cost of ownership and seeks to create the best possible value. The next step is to analyse the supply market and create a supplier portfolio.

article thumbnail

Evolution of the Status Quo

The Procurement School

Supply chain issues” has become an accepted catch-all term to explain a range of circumstances. Until recently, public owners have relied on a common approach of drafting conceptual drawings, commissioning quantity surveys, and buffering their budgets to allow for a percentage contingency.