SIG University Certified Sourcing Professional (CSP) program graduate Shridhar Kundaram shares his perspective on a four-step sourcing process that can help take your sourcing team to the next level.
Sourcing is a process that involves finding, selecting, evaluating, and managing suppliers for day-to-day and long-term purposes for goods and services needed in the organization/company. Sourcing will succeed if it has executive leadership support, collaboration with stakeholders, robust control of spending and policies, automation, and an approach clearly defined for categories. Sourcing involves four significant steps Assess, Analyze, Execute and Evaluate.
Shridhar Kundaram, Senior Analyst, CDK Global India Pvt Ltd.