How to Create a Strategic Sourcing Process Flow

To create a sourcing process flow, you will first need to create a sourced item. This can be done through the Create menu or by clicking on the sourcing request button on the left-hand side. The sourcing request template will include all of the essential sourcing elements such as item documentation, custom headers, and a workflow for approval. The approver will then see the requested item on their dashboard or via email. They can then either approve or reject the request.

A sourcing process flow will outline the steps of the purchasing process from the moment an RFQ is created, through the actual negotiation and conclusion of the contract. It will also show the different steps of the procurement system, including the review of financial commitments, contract negotiation, and the final payment. The sourcing process flow can be downloaded as a workbook and can help you visualize each stage of the purchasing process. This type of flowchart can be used to develop a hierarchy of purchasing, which is essential to developing a successful sourcing system.

When creating a sourcing process flow, it is important to include general principles that all members of your procurement team must understand. These principles are the foundation for developing a successful Strategic Sourcing strategy. They are the principles that procurement teams use to maximize the value of every spend category. Strategic Sourcing process flows are like checklists, resulting in a similar start and end. The variety of products and suppliers in today's market requires a more customized approach.