Primarily, strategic sourcing is concerned with identifying, understanding and reducing costs and risks within the supply chain generally relating to third party suppliers or external suppliers. The main aim of strategic sourcing is to apply a structured process, focused on delivering your organisations objectives, for getting the best from your suppliers. In essence, that means not only through their selection but also, the deals negotiated by you and the relationships formed with them.
The strategic sourcing approach at Odesma takes a number of logical steps to ensure you reduce procurement costs and the risks associated with supply chain management. Firstly, focusing on understanding what you do, what you want to achieve, gaining an appreciation of the specific product or service and develop a category strategy to meet your organisational objectives. This helps to map out your requirements such as types of suppliers, deals and the relationships needed to be successful. Once this is clearly articulated, Odesma undertake extensive market research of both the market characteristics and the suppliers. Then we assess the suppliers to ensure they understand both short and long term requirements to help you support strategic aims.
The final stage involves us negotiating with selected suppliers, employing best practice tools and techniques in order to negotiate the most favourable terms. The specialists at Odesma support the full strategic sourcing process to ensure that we reduce your costs and risks and align your supply chain network to your organisations strategic objectives.
Once the right suppliers are in place who best fit your organisation we deploy a sophisticated supplier relationship management (SRM) approach to getting the best value from those suppliers.