Develop the ability to drive cost savings for your firm

Assignment Help Supply Chain Management

Reference no: EM133310782

Question: We began by introducing sourcing and its different historical phases.

There are many job opportunities for students with supply chain training in sourcing jobs.

Sourcing managers have the opportunity to have an impact on the bottom-line cost savings. These benefits accrue through:

Improved product and service quality

Supplier involvement in product design

Service design

A portfolio approach to supply management can guide a sourcing manager in applying the correct strategy for each category of goods and services:

Routine items

Leverage items

Bottleneck items

Critical items

Strategic cost management tools help sourcing managers determine how to pay for the goods and services they are responsible for procuring through conducting spend analysis, price analysis, cost analysis, and total cost of ownership analysis.

As you apply these frameworks, you will develop the ability to drive cost savings for your firm, affect product and service quality for your customers, and help improve product and process designs with your suppliers.

Reference no: EM133310782

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