Purchasing & Strategic Sourcing is the crucial activity for any institute where choosing the right vendor for the services is at times overwhelming and a tiring job. Educare India being a consulting partner helps and takes the responsiblity for strategically sourcing on behalf of the Institute.
Strategic sourcing is the process of analyzing the School’s spend, going through a formal and structured negotiation process to identify a Preferred Vendor(s), and managing the vendor relationship. Strategic sourcing is about leveraging the School’s overall spend with fewer vendors, going through the process of establishing contracts as a university, as opposed to every department and school having to go through the process themselves. The ultimate goal is to save departments and schools money and time.
There are three primary components of strategic sourcing:
1) Establish Contract
2) Contract Administration
3) Evaluation of the Vendor Services