Assignment: Stategic Sourcing Steps
Prepare a summary of no less than 1,000 words, accompanied by a flowchart that describes or outlines the steps that occur in a typical sourcing process for a global manufacturing firm. Provide a brief evaluation of the steps as illustrated in your flowchart. Address the challenges and opportunities for insourcing versus outsourcing parts, as well as discuss the advantages and disadvantages of global versus domestic sourcing. Include the following:
- Translating corporate objectives into procurement goals
· Establishing business unit requirement processes
· Conducting supply market research
· Setting material management goals
· Strategic execution
· Reciprocity.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.