From the course: Strategic Sourcing of Suppliers
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Profiling the category
From the course: Strategic Sourcing of Suppliers
Profiling the category
- Welcome back. Let me now introduce you to step one of the strategic sourcing process, profiling your category. This is a fundamental and mandatory step of the strategic sourcing process. I'll level with you, there's lots of legwork involved at this stage as you're going to be asking lots of questions to build the deep insight that you need. The very first basic thing you're going to identify is the specific category or commodity that you'll be sourcing. What's its purpose? What value does it bring to your business and the end customer? Is it a single item or a range of products or services within a subcategory? If it's the latter, how many different stock keeping units or SKUs are you required to source? Explore with the users why each SKU exists. What specific customer need is it fulfilling? Unless tightly managed, SKU creep where additional SKUs are slowly but surely added to your portfolio is a real risk to a…
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