Any tips for building out a sourcing plan?

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Director of Supply Chain in Manufacturing2 years ago

We have a standard template for our sourcing and procurement strategy and are in the process of improving it. Depending on the supply market and our leverage, we categorize them on a global, regional, or local scale and prioritize them. Depending on the importance of the commodity, we may have a different or more sophisticated level of review. Topics that are covered per commodity are:

-Product/ technology aspects such as product types, technological trends, cost drivers and quality
-Market aspects such as supply market trends and dynamics, value chain analysis, potential disruptions
-Supplier market aspects such as our supply market share, geographical distribution, supplier performance and strategic supplier segmentation

Based on the above-mentioned inputs, the commodity strategy covers make vs. buy guidelines, supplier prioritization and identified savings opportunities. To ensure a holistic picture of the commodities and ensure stakeholder buy-in, the commodity strategy is prepared and approved together with R&D, Advanced Manufacturing Engineering, Product Technology and Supply Chain. Our strategy is reviewed annually and sometimes less frequently depending on the commodities.

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