Strategic sourcing is an important aspect of procurement as it ensures that businesses achieve the best possible total cost, rather than just focusing on the lowest purchase price of goods.

 

By consolidating purchasing power, companies can reduce the total cost of ownership and minimize risk within the supply chain. This requires a holistic approach that aligns sourcing with business goals, increases efficiency, and minimizes risk. (Picture 1).

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Picture 1

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Key to strategic sourcing is a solid supplier selection process (Picture 2). The goal is to develop strategic partnerships with the suppliers.

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Picture 2

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At VTC GROUP, we use a proven sourcing strategy development process that includes a solid supplier selection process to develop strategic partnerships with suppliers. We also offer a One-Stop-Shop for procurement that allows clients to outsource their entire procurement operations to us. This provides quick and sustainable results as we manage the entire process from strategy to execution, ensuring accountability and responsibility for the results.

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Our local knowledge and experience in the APAC region also allows our clients to focus on other operations while we take care of procurement. This provides more flexibility to our clients through responsiveness and scalability from our local team. We believe that digital analytics and smart tools are key to driving innovation, quality, sustainability, and speed, reducing risk, and facilitating resilient supply chains.

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If you are looking to optimize your procurement operations and achieve the best possible total cost, please reach out to us to discuss how we can help you achieve your business goals through strategic sourcing and procurement outsourcing.

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Picture 3

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