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Under pressure to produce "quick wins" in procurement? This seven-step process will help you gain top management's support for strategic sourcing—even in a bad economy.
When companies purchase parts or components, historically they have comparison-shopped to find the lowest-cost supplier. But forward-thinking companies are now applying the concept of "should costing" to procurement instead. In essence, they analyze what a product should cost to determine what they ought to pay for it. The emergence of should-cost systems is paving the way for companies to perform true-cost analyses of suppliers' parts.
