Strategic Purchasing is a business practice that involves the acquisition of goods and services in a way that maximizes value and minimizes costs. It is a process that requires careful planning and analysis to ensure that the right goods and services are purchased at the right time, in the right quantity, and at the right price. Strategic Purchasing is a proactive approach to procurement that involves analyzing the company’s current and future needs, researching potential suppliers, negotiating the best terms, and managing the entire process from start to finish. It also involves evaluating the supplier’s performance and making sure that the supplier is meeting the company’s requirements. Strategic Purchasing is a key component of any successful business and can help to ensure that the company is getting the best value for its money.