World class supply management has to develop a strategic sourcing plan that details how supply management will discover,evaluate,select,develop and manage a viable supplier base.

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A strategic sourcing plan is a crucial element of world-class supply management. It outlines the approach and steps involved in identifying, evaluating, selecting, developing, and managing a reliable and cost-effective supplier base. By having a well-defined strategic sourcing plan, supply management can optimize their purchasing decisions and achieve maximum value for their organization.

World Class Supply Management Has to Develop a Strategic Sourcing