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Essay Available:
Pages:
3 pages/≈825 words
Sources:
Level:
MLA
Subject:
Literature & Language
Type:
Article Critique
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 10.8
Topic:

Sourcing Strategy (Article Critique Sample)

Instructions:

The paper sought to summarize the sourcing strategies applied by companies and its critisms

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Content:
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Sourcing Strategy
Summary
Sourcing strategy is equated to a chess game that decision makers play before embarking to the market to buy materials, parts, ingredients, equipments products and services. This entails this understanding the supplier’s potential and deciding the best way to access the market in order to maximize organization value. Searching for quality goods and services at a low cost is an objective of every firm. This is mainly because of the ever changing consumer preference and taste demanding for high quality goods at all times. Identifying therefore suitable strategic sourcing policies can help in equalizing market forces such as stiff competition.
No matter the number of steps in the sourcing process of a company, every organization seeks to achieve three things. First is understanding the analysis of suppliers, competitors, markets, capabilities, industries and needs. This involves deciding to go to a particular market which is often misunderstood with strategy determination. Tools to use in getting into a market include online negotiation, request for proposals (RFPs), face-to-face interaction and auctions. This can sometimes be tough to handle in an environment where rules, targets, customer expectations and scoring systems are constantly changing. Performances measurements, relationship management, supply chain response and change management tasks which are complex are the key areas to evaluate value. Technology can be used to understand, and manage some of these processes for better chances of success.
After gathering and analyzing internal data (specifications, resources, requirements, technical capabilities etc), an external environment scan should be done. This is an easy process with the use of the internet. Many companies nowadays use search engines to check websites, supplying capabilities, catalogs and general information e.g customer ratings, reputation and financing capabilities. It is however important to take caution because information in the internet can be rumors, personal views and non-factual. Market services subscription requires experience and the skill of market savvy. This process involves the use of technolog...
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