Best Practices - What to Do

✅ Strategic Sourcing Best Practices

• DO INVEST time in data and the baseline. You cannot negotiate effectively without a thorough understanding of your current costs, volumes, and contractual terms.
• DO ALIGN stakeholders early. Get buy-in from budget owners, end users, legal, and leadership BEFORE launching the RFx. Surprises kill sourcing projects.
• DO DEFINE evaluation criteria before issuing the RFx. Never change the rules mid-process. This destroys credibility with suppliers and stakeholders.
• DO COMMUNICATE transparently with suppliers. Procurement's reputation is built on fairness and consistency.
• DO CONSIDER TCO, not just unit price. Include logistics, quality costs, transition costs, payment terms impact, inventory costs, and risk premiums.
• DO DOCUMENT everything. Every decision, every communication, every score. This protects you legally and builds institutional knowledge.
• DO PLAN for implementation from day one. The best contract is worthless if the transition fails.
• DO HOLD a lessons learned session after every sourcing event. Continuous improvement applies to procurement processes too.