Smock et al 2007

Smock et al 2007 - Sourcing StrategyThe Brains Behind the...

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Sourcing Strategy- The Brains Behind the Game Each company has their own way of sources, no mass market software can completely handle all sourcing needs. Public Knowledge is no longer public knowledge. With the age of the internet there is so much knowledge out there that information must be actively and precisely sought. The information that can make or break your company could be in plain sight but you would never know it. To have a successful supply chain, Supply Chain Management, needs to implement a successful sourcing strategy Technology can be useful to develop a strong sourcing strategy, they key is to choose the tools wisely and use them well
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Key Concepts The company must: understand, decide, manage Strategic Sourcing vs. Sourcing Strategy Create a successful Sourcing Strategy Power of Buyers vs. Power of Sellers Cox Methodology Use of Internet and technology to market analysis and insight
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Strategic Sourcing VS. Sourcing Strategy Differences: Strategic Sourcing: constant effort to accomplish three things: To understand, to decide, to manage Sourcing Strategy: the means you take with the information acquired from strategic sourcing Receiving from and supporting for the supply base Approach to market
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Strategic Sourcing The 3 parts of strategic sourcing are: To Understand - analysis of markets, suppliers, internal capabilities, needs, competitors, and industries To decide - which tool to use, supplier selection decision, natural outcome of going to market that matches supplier capabilities to company needs. To manage- make sure that sourcing continues to meet the customer value expectations of the current market
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Sourcing Strategy Sourcing Strategy- “about understanding what you really want to get from the supply base, analyzing the potential suppliers, and then deciding how to approach the market with the chosen suppliers.” Occurs before suppliers are solicited and technology linkages are utilized blends expertise with knowledge and intense analysis to formulate a value-creating game plan for use with the supply base information is the raw material of sourcing strategy
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This note was uploaded on 07/02/2011 for the course MGSC 487 taught by Professor Jayaram during the Spring '10 term at South Carolina.

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Smock et al 2007 - Sourcing StrategyThe Brains Behind the...

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