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The seven-step model from EPS News can enhance the procurement process by applying strategic sourcing principles to modern procurement. This model can help in identifying the direct and indirect goods and services, which are crucial in procurement. It can also assist in developing an action plan to achieve procurement objectives and improve areas of implementation. However, the specific steps of this model are not provided in the content.
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Procurement and sourcing are two related, but different terms that are often used interchangeably. The main difference between them is that sourcing concentrates on direct goods and services and procurement deals with indirect goods and services. EPS News suggests this seven-step model for applying strategic sourcing principles to modern procurement:
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The procurement process can be tough to handle. Use our Procurement and Strategic Sourcing presentation to develop the action plan you need to achieve...
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