During which step of the strategic sourcing process would you identify potential suppliers?

Identifying potential suppliers is a crucial aspect of the strategic sourcing process, and this occurs during the Analyze step. At this stage, organizations assess their needs and analyze their current supply chain dynamics to determine the best possible suppliers that can meet those needs. This involves researching and evaluating various suppliers to compile a list of candidates who can provide the required goods or services effectively.

The Analyze step allows companies to gather data about potential suppliers, such as their capabilities, reliability, pricing, and suitability for the organization’s strategic goals. This foundational work ensures that when the organization moves to the Source step, they have already done the groundwork to make informed selections, enhancing the overall effectiveness of the sourcing strategy.