Strategic sourcing in manufacturing sector: A case of an Indian company

Abstract

Strategic sourcing, stands out to be not only costs savings mechanism but it also helps the organization to realize its long-term objectives. It is therefore essential for all organizations to go for a strategic sourcing now a day. Manufacturing organizations might be the most evident candidates, however the positive effect of strategic sourcing can be enormous for organizations as diverse as manufacturing organizations, service organizations, real estate firms and non-profit associations. The target of the strategic sourcing in manufacturing organizations is to guarantee that procurement activities accomplish best value for money and to provide best services to satisfy its clients. This paper examines and talks about the strategic acquisition elements in manufacturing organizations and suggests the techniques for further improvement in the framework dependent on certain perceptions in the present framework being practiced.