9.2.1. Develop Sourcing Strategy
- Definition: Creation of strategy for sourcing materials from suppliers
- Example: Sourcing strategy can be:
* Direct purchase: Sending a Request for Proposal (RFP) or a Request for Quote (RFQ) to select suppliers.
* Acquisition: Purchasing from a desirable supplier.
* Strategic partnership: Entering into an agreement with a selected supplier.
- Synonym: sourcing strategy
- Coud service: Fusion_Self_Service_Procurement_Cloud_Service
9.2.2. Select Suppliers And Maintain Contract
- Definition: The potential suppliers are assessed and the most suitable one(s) are chosen. These suppliers are then contacted and a contract is signed. For old suppliers, contracts are reviewed, maintained or changed depending on the organization's situation
- Example: The company send a request for purchase to potential suppliers and select the one with the best price for them. This supplier then receives a contract including quantity, time, amount to pay and other terms.
- Synonym: maintain contract, select supplier
- Cloud service: Sourcing_Optimisation
9.2.2. Select Suppliers And Maintain Contract
- Definition: The potential suppliers are assessed and the most suitable one(s) are chosen. These suppliers are then contacted and a contract is signed. For old suppliers, contracts are reviewed, maintained or changed depending on the organization's situation
- Example: The company send a request for purchase to potential suppliers and select the one with the best price for them. This supplier then receives a contract including quantity, time, amount to pay and other terms.
- Synonym: maintain contract, select supplier
- Cloud service: Sourcing_Optimisation
9.2.4. Manage Suppliers
- Definition: Collect information in order to track and rate suppliers
- Example: A company has their own system to rate supplier based on the past data like number of late payment, number of defects, etc. By doing this, the company is able to detect which supplier is the trouble and can plan to replace the suppier. Other suppliers need to be kept in relationship
- Synonym: supplier relationship management
- Coud service: Grow_Local