There is not one procurement process, but many small sub-processes that vary depending on the industry and company size
Source2Contract vs. Procure2Pay
Source2Contract and Procure2Pay are also referred to as strategic and tactical procurement. While strategic purchasing focuses on "better", tactical purchasing focuses on "faster".
Source2Pay is the combination of Source2Contract and Procure2Pay. This should cover all purchasing processes in a company.
The process map
Click on any step to read more about it.
Typical questions in strategic procurement:
- How do I negotiate the prices?
- How do my suppliers perform?
- Which are the best suppliers for my company?
- How many suppliers should I qualify in my category?
- How can I reduce the risk in my category?
Typical questions in tactical procurement:
- When will my parts be delivered?
- What is the processing time for a requisition?
- Which order was not confirmed?
- What recovery time do I have to calculate with?
- How can I make the transports more efficient?