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For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategicsourcing is for long-term business goals. And from that group, 71% would pay a premium for it.
Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategicsourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategicsourcing are becoming even more attainable thanks to innovation.
Organizations must manage a myriad of products and services, ensuring that they are sourced, purchased, and delivered efficiently. Efficient Sourcing and Bidding: Item classification helps in the efficient sourcing of products.
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