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Procurement Strategies In Supply Chain Management

oboloo Glossary

Procurement Strategies In Supply Chain Management

Procurement strategies in supply chain management are the holistic approach to managing the acquisition and sourcing of goods, services and materials. It involves evaluating supplier relationships, costs and technologies while also incorporating sustainability practices and meeting customer expectations. The goal of procurement strategies is to ensure that businesses obtain the best value for their money while enhancing customer satisfaction and minimizing risk. Engaging stakeholders throughout the entire process is key to ensuring a successful and efficient procurement strategy.

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