Certification in Supplier Diversity Practice Exam 2025 - Free Practice Questions and Study Guide

Question: 1 / 550

What is the first step in the strategic sourcing process?

Generate the supplier portfolio

Select implementation path

Profile the supply stream

The first step in the strategic sourcing process is to profile the supply stream. This step is critical as it involves understanding the current supply base and the goods and services that are required by the organization. Profiling the supply stream allows organizations to assess their spending patterns, identify potential suppliers, and gain insights into supply market trends.

In this phase, businesses often analyze various factors such as demand characteristics, supplier capabilities, and risks associated with different category spends. By developing a clear profile of the supply stream, organizations can make more informed decisions as they move through the strategic sourcing process, including generating a supplier portfolio and selecting an implementation path later on. Understanding the supply stream helps in aligning sourcing strategies with overall business objectives and improving supply chain efficiency.

Get further explanation with Examzify DeepDiveBeta

Negotiate and select suppliers

Next Question

Report this question

Download Certification in Supplier Diversity Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy