1. Abstract

This study aims to qualitatively evaluate and understand the role of InHouse strategic sourcing, and the critical success factors for business performance and its relationship with strategic sourcing, and strategic supplier evaluation criteria from multiple stakeholders’ perspectives specific to India.

2. Introduction

Strategic sourcing is a process that organizations use to identify, evaluate and select suppliers that can provide goods or services that support the organization’s business objectives. The goal of strategic sourcing is to find the best possible combination of quality and cost for the goods or services that an organization needs.

In recent years, there has been an increased focus on strategic sourcing as a way to improve business performance. This is due to the fact that, in a global economy, organizations are under pressure to find ways to reduce costs and increase efficiency. Additionally, the growth of e-commerce and the globalization of supply chains have made it easier for organizations to compare prices and quality from suppliers around the world.

However, despite the benefits of strategic sourcing, there are also challenges associated with the process. One of the biggest challenges is that it can be difficult to identify and evaluate all of the potential suppliers for a given good or service. Additionally, once a supplier is selected, there is always the risk that they will not be able to meet the organization’s needs or expectations.

Another challenge is that, in order for strategic sourcing to be successful, it requires buy-in from all stakeholders within an organization. This can be difficult to achieve due to differing objectives and priorities. Finally, even when all of the above challenges are overcome, there is always the possibility that the selected supplier will not perform as expected.

3. Methodology

This study was conducted using a qualitative research methodology. Semi-structured interviews were used to collect data from a purposive sample of 12 participants who work in organizations that use strategic sourcing. The data was analyzed using thematic analysis and ERP software.

4. Results

The results of this study showed that the role of InHouse strategic sourcing is to identify potential suppliers, evaluate their capabilities, and select the most suitable supplier based on the organization’s needs. The critical success factors for business performance were found to be price, quality, delivery, and flexibility. Additionally, the study found that the main challenges associated with strategic sourcing are identifying potential suppliers, getting buy-in from all stakeholders, and ensuring that the selected supplier meets the organization’s expectations.

InHouse helped  the organization to find potential suppliers that met their quality and cost requirements. InHouse also helped the organization to save time and money by streamlining the supplier selection process.

The methods followed by InHouse was strategic in nature and  helped the organization to select the right supplier for their needs. This was done by first identifying the potential suppliers and then evaluating their capabilities. Once the supplier was selected, InHouse helped to negotiate the contract and set up the delivery schedule.

The whole process was having the same challenges, but InHouse used data oriented approach to vet the suppliers by maintaining professional relationships, and helped the organization to get the best terms for their contract. InHouse also helped to monitor the supplier’s performance and make sure that they met the organization’s expectations.

5. Conclusion

This study provides insights into the role of InHouse strategic sourcing, the critical success factors for business performance, and the challenges associated with the process. These findings can be used by organizations to improve their strategic sourcing practices. Additionally, this study highlights the importance of considering all stakeholders when implementing a strategic sourcing strategy.