7 Step Strategic Sourcing Process

1. Strategic Sourcing Process Define Needs Market Research Create RFP/RFI Needs Analysis Select Supplier Contract Negotiations Program Implementation & Supplier Management Spend Analysis Stakeholders Sponsors Strategy Create SOW Leverage Locations Prepare RFO and send SOW to all suppliers with response due date Prepare spreadsheet with data for each attribute and present analysis Short list Presentation Decision Matrix SWOT Analysis Contract Development BATNA Strategy Terms Transition Planning Scorecard KPI Performance Management Supplier Identification Research Market Analysis