{"id":975,"date":"2014-02-08T11:57:44","date_gmt":"2014-02-08T11:57:44","guid":{"rendered":"https:\/\/stagingwww.zycus.com\/4-key-procurement-objectives-for-2014-part-3-addressing-strategic-sourcing-as-a-key-capability-related-issue"},"modified":"2023-10-19T09:02:42","modified_gmt":"2023-10-19T09:02:42","slug":"4-key-procurement-objectives-for-2014-part-3-addressing-strategic-sourcing-as-a-key-capability-related-issue","status":"publish","type":"post","link":"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/4-key-procurement-objectives-for-2014-part-3-addressing-strategic-sourcing-as-a-key-capability-related-issue","title":{"rendered":"4 Key Procurement Objectives for 2014: Part 3 &#8211; Addressing Strategic Sourcing as a key capability related issue"},"content":{"rendered":"<p>In the third part, we will delve upon<strong>\u00a0Addressing Strategic Sourcing as a key capability related issue\u00a0<\/strong>for Procurement Professionals in 2014. You can read the previous parts of this blog series, that discusses about<a title=\"Key Procurement Objectives for 2014: Part 1 \u2013 Improving Profits\" href=\"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/4-key-procurement-objectives-for-2014-part-1-focus-on-revenue-profitability.html\" target=\"_blank\" rel=\"noopener\"><strong> <strong>Improving Profits<\/strong><\/strong>(part 1)<\/a> and <a title=\"4 Key Procurement Objectives for 2014: Part 2 \u2013 Improving Visibility\" href=\"https:\/\/dev.zycus.com\/freshz\/blog\/procurement-technology\/4-key-procurement-objectives-for-2014-part-2-improving-visibility.html\" target=\"_blank\" rel=\"noopener\"><strong>Improving Visibility<\/strong>(part 2)<\/a>.<\/p>\n<p style=\"text-align: center;\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-1012\" src=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2014\/02\/Div3_info1.png\" alt=\"Top capability related issue in 2014\" width=\"499\" height=\"195\" srcset=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2014\/02\/Div3_info1.png 640w, https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2014\/02\/Div3_info1-300x117.png 300w\" sizes=\"(max-width: 499px) 100vw, 499px\" \/><\/p>\n<p>According to the survey results, <strong>strategic sourcing is the top procurement capability-related issue<\/strong>\u00a0for around <strong>45%<\/strong> of procurement professionals in 2014. Strategic Sourcing is an approach to procurement whereby the business needs of the organization are matched with the supplier market.<\/p>\n<p>The important <strong>Steps of Strategic Sourcing<\/strong> are:<\/p>\n<ul>\n<li>Analyze the requirement for sourcing \u2013 identify spend<\/li>\n<li>Search for Suppliers<\/li>\n<li>Request for Information<\/li>\n<li>Request for proposal or quotation<\/li>\n<li>Event Roll-out<\/li>\n<li>Analyze Supplier Information<\/li>\n<li>Award the contract and begin to track suppliers<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" class=\"aligncenter wp-image-1013\" src=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2014\/02\/Div3_OA_11.png\" alt=\"Observation &amp; Action\" width=\"582\" height=\"352\" srcset=\"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2014\/02\/Div3_OA_11.png 640w, https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2014\/02\/Div3_OA_11-300x181.png 300w\" sizes=\"(max-width: 582px) 100vw, 582px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the third part, we will delve upon\u00a0Addressing Strategic Sourcing as a key capability related issue\u00a0for Procurement Professionals in 2014. You can read the previous parts of this blog series, that discusses about Improving Profits(part 1) and Improving Visibility(part 2). According to the survey results, strategic sourcing is the top procurement capability-related issue\u00a0for around 45% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":101270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1937,1938],"tags":[917,918,404,919,902,408,903,371,354,920],"ppma_author":[170],"class_list":["post-975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement-technology","category-strategic-sourcing","tag-4-key-procurement-objectives-for-2014","tag-analyze-supplier-information","tag-esourcing","tag-event-roll-out","tag-objectives","tag-procure-to-pay-3","tag-procurement-objectives","tag-procurement-technology-2","tag-strategic-sourcing-2","tag-track-suppliers"],"acf":[],"authors":[{"term_id":170,"user_id":0,"is_guest":1,"slug":"zycus-inc","display_name":"Zycus","avatar_url":{"url":"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2025\/02\/zycus-author.png","url2x":"https:\/\/dev.zycus.com\/freshz\/wp-content\/uploads\/2025\/02\/zycus-author.png"},"author_category":"0","last_name":"Agentic Procurement Platform","first_name":"Zycus","job_title":"","user_url":"https:\/\/dev.zycus.com\/freshz","description":"Zycus is an Agentic Procurement Platform that is redefining procurement from Source-to-Pay to Intake-to-Outcomes. Its unified platform combines native Intake, agentic AI, and an end-to-end S2P core to help enterprises drive real procurement outcomes \u2014 not just transactions. Recognized by Gartner, Forrester, IDC, and customers worldwide, Zycus is shaping the next generation of procurement with the Merlin Agentic AI Platform."}],"_links":{"self":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/comments?post=975"}],"version-history":[{"count":0,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/posts\/975\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media\/101270"}],"wp:attachment":[{"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/media?parent=975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/categories?post=975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/tags?post=975"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/dev.zycus.com\/freshz\/wp-json\/wp\/v2\/ppma_author?post=975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}