The Thomas Blog

Steel strategic sourcing

Strategic Approaches To Common Sourcing Scenarios

Strategic sourcing is all about generating a return on investment for every sourcing initiative. However, different sourcing scenarios require different investments — in terms of time, effort and resources. Therefore, it’s important to approach each situation differently to produce the best results.

Here are four common sourcing scenarios, along with proven advice you can use to ensure an optimal return.

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contract management best practices - supply chain warehouse

4 Contract Management Best Practices For Improving Supply Chain Performance & Quality

There is no question that technology has improved almost every aspect of the business process.

In theory, this is particularly true within the procurement and supply chain sphere: online e-sourcing tools make conducting sourcing events more effective and less costly than ever; online ordering portals and spend management software cut down on the time necessary to complete the entire procurement cycle. 

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Managing Total Cost Of Ownership In The Electrical Supplies Category

Although each category of purchasing that falls under Maintenance, Repair, and Operations (MRO) poses its own unique challenges, electrical supplies stands out as one that appears to be tactical. However, it does grant the opportunity for significant cost savings and value enhancement when viewed from a strategic perspective.

The “Electrical Supplies” umbrella covers a broad area of products, and depending on the needs of a particular organization, the level of complexity may vary particularly with wires and cables, automation supplies, lighting, and electrical distribution equipment. From a category perspective, there are opportunities to reduce costs when determining the preferred supplier base.

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COVID-19 Response Suppliers COVID-19 Response:
Can Your Company Help Provide Critical Supplies?

We are using the power of our platform to aid in the mass shortage of critical supplies. If your company can help provide supplies, capabilities, or materials for products such as N-95 Masks and Tyvek SuitsPlease let us know.

COVID-19 Response Suppliers