Procurement processes are often considered administrative procedures during which the activities of supplying and purchasing a company's resources are involved. There is no doubt that strategic sourcing offers a strategic methodology that improves sourcing activities by following an effective 7-step methodology.
In this course, we explore the effective strategic methodology in which products are classified through an organization's spend analysis. We then explore six merchandising strategies and determine how each can fit into different product categories. Finally, we identify the relevant KPIs needed to achieve continuous improvement in sourcing activities.