Understanding Strategic Procurement, Strategic Purchasing And Strategic Sourcing

Have you been searching for assistance with strategic procurement, strategic sourcing and strategic purchasing? Our friendly team at ProcMarket can assist you with any questions you may have about our procurement process. Our team is knowledgeable, friendly, trustworthy, detailed and experienced in all aspects of procurement and aims to assist you in reaching your business and procurement needs. 

ProcMarket can assist you with outsourcing and augmenting your strategic procurement needs by offering cost-effective solutions, easy-to-access user platforms and a range of benefits of talented procurement professionals to assist buyers along the process and provide time-efficient procurement solutions.

What is Strategic Procurement?

Strategic procurement refers to the process of purchasing of goods and services. At ProcMarket, we have goods and services that are available within the 26 industries, which include construction, agriculture, food, beverage, recreation, education, healthcare, finance and many more. Within these industries, there are 157,000 categories and subcategories are available for strategic purchasing through the Procurement Marketplace platform. 

Procurement professionals who have world-class experience and education in each industry and specialised training in specific categories will assist with the delivering of goods and services to create a seamless procurement process. 

Strategic procurement is beneficial to augment your goods and services to have the entire process held under one platform. Augmenting your procurement capabilities ensures buyers have the opportunity and variety of options for goods and services and can utilise strategic purchasing in one central platform. 

What is Strategic Purchasing?

The concept of purchasing and procurement are often used interchangeably as they aim to give the end result of goods or services, although procurement closely relates to the process of purchasing goods and services, whilst strategic purchasing is the end step of finalising the purchase. 

Strategic purchasing at ProcMarket occurs when a client purchases a goods or service through the procurement Marketplace platform and is then allocated a procurement professional who is suitable for their project. This final step of the strategic procurement process allows for the delivery of the selected goods or services by a procurement professional who is educated and has experience in the specific category and subcategory. 

What is Strategic Sourcing?

Strategic sourcing is a procurement process that includes every step up until the stage of strategic purchasing. Strategic sourcing refers to market analysis, research, spend analytics and contracts. 

A range of products from ProcMarket may assist you with your strategic sourcing needs, such as a procurement strategy, request for x-document, scope of work, evaluation facilitation and report and more. Our procurement products aim to assist in providing a strong analysis in a variety of areas ranging from purchasing power, possible risks, and evaluation planning. 

Procurement products are available in a range of sizes, starting from under $500K to over $2M. The size range available aims to successfully provide personalisation of the product to suit individual strategic sourcing and strategic procurement needs. Each product is available in a range of skill levels which will showcase each professional’s level of experience and education. The three skill levels include beginner, advanced and experts, with beginner referring to a procurement professional with less than 5 years experience, advanced relates to a procurement professional who has 5-20 years experience, and expert procurement professionals have over 20 years of experience.

Get Started With Strategic Sourcing At Procurement Marketplace Today!

Here at Procmarket, we have highly skilled and talented procurement professionals who are able to help you develop successful strategies today for a financially secure tomorrow.

We utilise a user-friendly interface that provides an Interactive Categorisation Engine, Collaboration Zone, and our Procurement Marketplace. In our Interactive Search Engine, we display 157,000 categories and subcategories to choose from within our industries, with photos to guide the process.

At ProcMarket, we offer a wide range of products that include procurement strategies, risk assessment and treatment plan, scope of work, evaluation criteria and response schedules, request for x document, source to contract, evaluation facilitation and report, spend analytics and sustainability solutions.If you have any questions about strategic purchasing, strategic sourcing or our procurement processes and services, our team is able to assist you with your query. Feel free to get in touch with our friendly team by submitting a contact form or by telephone at +61 432 779 620. Our highly experienced and professional team will be able to guide you on the path that best solves your specific procurement requirements!