What is strategic sourcing?
Strategic sourcing is a sourcing method that involves applying different strategies while sourcing products or services. Strategies are selected based on real-time circumstances of each acquisition and influenced by factors such as the value of spend, risk in the category and the supply market character. Crowd sourcing, outsourcing, global sourcing, and low cost country sourcing are a few of the many types of sourcing strategies.
Unified Procurement Platform
SMART by GEP® is a cloud-based, source-to-pay procurement software that delivers comprehensive spend, sourcing and procurement functionality in a single, unified platform native to cloud, mobile and touch technologies this would be below unified procurement platform