The purpose for collecting initial data is to benchmark current performance, resources used, costs for all the departments/functions in the organization, and current growth projections. This involves the collection of several different types of data. To begin, you’ll need to benchmark current performance and then identify needs and targets before developing a procurement strategy. Step 1: Conduct an internal needs analysis Here are the 7 steps that lead to a successful procurement process. The team will then use the data from the strategic procurement process to develop and implement a strategic procurement plan. This team sets the overall direction for procurement, aligned with the business strategy. Organizations should set up a strategic procurement team. It requires input from all departments and functional areas for an organization. Strategic procurement is an organization-wide process. The procurement process can be complicated one.
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