Business Finance
Sourcing Strategy Sourcing Strategy Research Paper

Question Description

I’m studying for my Management class and don’t understand how to answer this. Can you help me study?

Sourcing strategy must be developed within the scope of the overall mission statement and ensure, to the extent possible, achieving the organization's objectives. It is also imperative to ensure that the strategy addresses developments throughout the supply chain; it may be economic conditions, or it may be category or commodity shortages that escalate market pricing. Use the previous elements to help you.

Create the strategy section of your sourcing plan. Remember, your strategy can change as market conditions and other factors change in the marketplace but you need to have an initial strategy so that the organization understands what plans and decisions will need to be made.

Your write up should 2-3 pages and in APA format (Title page isn't needed. References should be added if necessary).

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Attached.

Running head: SOURCING STRATEGY

1

Sourcing Strategy
Institution Affiliation
Name

SOURCING STRATEGY

2
Sourcing Strategy

Organizations should develop sourcing strategies that address issues arising from the
supply chain and resonates with their objectives. SinoDrink trading commodities are sourced
from Italy, with several producers being involved. It is, therefore, important for the company to
come up with a sourcing strategy that helps them deliver their mandate to its customers.
Building the Team
SinoDrink will be required to outsource from several winemakers; therefore, there is a
need to build a team that will help the company in harmonizing all these activities. In building
the team, SinoDrink will be developing a plan, consolidating tools and resources, and unveiling
the work plan. All these have to be developed within the scope of the company's missions and
objectives. The company must also consider creating a liaison division to enable them to follow
up with the Italian winemakers.
Market Research
Sourcing plans cannot be effective without conducting enough market research.
Form...

agneta (51369)
Cornell University

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