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Strategic sourcing is a term directly involved in procurement process it helps to improve and re-evalute the activities of purchasing of a company.

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What are the steps in the strategic sourcing process?

"Strategic Sourcing is a process that is important to any company. There are seven steps to this process, and the steps are as following: qualifying sourcing groups, selecting strategy and tactics, scanning and selecting suppliers, defining and planning techniques, tendering and negotiating, switching to a new supplier, and finally monitoring supplier performance."


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