Strategic Sourcing
Strategic Sourcing, a function of Procurement
Procurement is the extensive process of acquiring external goods or services to support ongoing work that is vital to WPI’s teaching and research missions.
Procurement involves identifying prospective suppliers, establishing business and payment terms, drafting and negotiating contracts, and the actual purchasing and payment for those goods or services. Within procurement, Strategic Sourcing can identify various supply options and assess the cost-benefit of each of those options, taking into consideration WPI’s overarching mission and business objectives.
The Role of Strategic Sourcing
Strategic Sourcing collaborates with stakeholders across campus to identify and pursue cost savings opportunities. Through the competitive bidding process (request for quote/RFQ or request for purchase/RFP) and strategic management of key supplier partners, buying power is maximized in support of project budgets and the overall financial health of WPI.
Strategic Sourcing assists departments by:
- Identifying and recommending suppliers in sourcing initiatives to ensure alignment with university priorities.
- Providing information about Strategic Suppliers, existing University-wide agreements, Group Purchasing Organizations (GPO) contracts, the RFQ/RFP process, and supplier diversity.
- Leading formal RFQ/RFP processes in managed categories and/or for complex, high spend engagements or providing guidance to departments on smaller initiatives.
- Negotiating supplier contracts for favorable business terms and pricing.
- Managing preferred supplier relationships for continuous improvement.
- Collaborating on project purchases to help find the best suppliers to maximize project budgets.
- Leveraging data-driven insights to uncover and optimize cost-saving opportunities.
To request Strategic Sourcing assistance with an RFQ/RFP project, please refer to Procurement Policies and Procedures, and send an email to cbruss@wpi.edu with the following information:
- Requestor’s Name
- Project Sponsor
- Project Name
- Project Cost Center
- Target start date
- Building/Location for service or delivery
- Brief, high-level project summary or what is the business case behind this project?