Strategic Sourcing and Category Management is an official business practice that is used to optimize the procurement of goods and services. It involves the analysis of a company’s spending and the development of a comprehensive strategy to maximize the value of those purchases. This strategy typically includes the identification of key suppliers, the development of a supplier relationship management program, the negotiation of pricing and terms, and the management of the supplier performance. Strategic Sourcing and Category Management also involves the development of a category strategy that focuses on the selection of suppliers and the development of long-term relationships. This strategy also includes the evaluation of the supplier’s capabilities and the selection of the most appropriate supplier for the particular category. Finally, Strategic Sourcing and Category Management also includes the management of the entire procurement process, from the initial request for proposal to the final delivery of the goods or services.