Industrial sourcing can be defined as the search for a supplier to help meet a company’s objectives in terms of cost, quality and lead time. It is an essential aspect of the supply chain. Given the rapid evolution of production needs, finding the right supplier at the right time is a key strategic issue. However, this is often easier said than done. What means are available to companies to improve their supply chain management?
Strategic sourcing process
The search for suppliers is a key step in the industrial sourcing process. Suppliers must meet different expectations of the company, as well as in terms of performance. In addition to this traditional perspective, companies are now facing co-development and innovation challenges. Strategic sourcing encompasses all these realities and becomes a sustainable competitive advantage.
In this step, the specialists who make up the Purchasing Department of Gestión de Compras work daily with a rigid selection process. The objective is to find the best suppliers globally for our customers.
To achieve this goal, buyers must actively monitor the market. Thanks to the data collected, the teams are able to identify the industrial suppliers and distributors best suited to the different needs of the company’s various functions. Purchasing managers issue a “request for information” to their potential partners to pre-qualify them according to their potential for the company. In this way, you create your own network of suppliers that you can call upon when a customer needs them.
However, finding reliable information can be difficult. To ensure that the information comes from a trusted source, buyers can consult specialized websites, talk to experts or ask for references.
Selecting suppliers can be a difficult step, as there are many factors and constraints to consider in order to find the best options for your customers. In addition to the factors of cost, quality and lead times; we must take into account:
- The product portfolio and sourcing cycle.
- The importance of the product
- Competitive environment
- Specific geographic areas.
- The need for innovation.
Gestión de Compras is a company dedicated to industrial purchasing or purchasing outsourcing formed by professionals in the areas of purchasing, quality and production. Also, we respond to the need of many companies to improve their negotiation procedures and procurement costs, adapting them to the current market requirements.
Our experience in industrial sourcing and development of industrial projects, together with new technologies, has allowed our clients to access more competitive markets.
Why is sourcing important?
- For companies of all sizes, factors such as cost structure, profit margins and competitiveness keep the business moving forward.
- Sourcing is essential to help a company achieve all of these factors. And with a well-established strategy, companies can effectively establish consistent and optimized supply chains.
- It also provides stability. Once a company finds a good supplier, both parties can develop a relationship that is beneficial to the smooth running of the company. In this case, the buyer can rely on the supplier to provide quality products.
- Sourcing can reduce production costs in the long run. By sourcing supplies internationally, money is saved. Labor costs are eliminated and products automatically become cheaper.
And finally, when a strong relationship is established between buyer and supplier, risks can be effectively managed. In addition, they can rely on each other for transparency and accountability.