Outsourcing Strategies
Outsourcing Strategies is the procurement-specific competence to analyze, plan, and implement processes to delegate certain business functions or operations to external suppliers. It involves supplier selection, risk management, cost optimization, and ensures alignment with overall business objectives and regulatory compliance.
Level 1: Emerging
At an emerging level, you are learning how to identify ideal outsourcing opportunities, leveraging fundamental procurement practices. You're just starting to develop strategies for effective vendor partnerships.
Level 2: Proficient
At a proficient level you are able to analyze market trends, assess risks, develop criteria for vendor selection, and negotiate contracts that align with organizational procurement goals when implementing outsourcing strategies.
Level 3: Advanced
At an advanced level, you are adept at developing and implementing innovative outsourcing strategies to optimize procurement processes, achieve cost savings, and enhance overall organizational performance.
