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H264 Sourcing Strategy.edited 1

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Management
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Running head: SOURCING STRATEGY 1
Sourcing Strategy
Institution Affiliation
Name

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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.
Formentini et al. (2019) observe that failing to conduct market research increases risks for
marketing plans to fail. Adequately conducting market research equips organizations with the
data that is required to make strategic decisions. SinoDrink will conduct the market research to
understand the supply market, while at the same time be able to capture supply trends, issues to
do with the capacity and pricing of products. Based on the product portfolio of SinoDrink,
market research must be comprehensive since it involves different winemakers.

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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. Formentini et al. (2019) observe that failing to conduct market research increases risks for marketing plans to fail. Adequately conducting market research equips organizations with the data that is required to make strategic decisions. SinoDrink will conduct the market research to understand the supply market, while at the same time be able to capture supply trends, issues to do with the capac ...
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