Procurement Strategy

Procurement strategy refers to the structured approach an organization takes to manage its sourcing and purchasing activities in alignment with business goals. It defines how procurement will deliver value through supplier collaboration, risk mitigation, sustainability, innovation, and support for enterprise growth. A modern procurement strategy encompasses category management, supply market intelligence, digital enablement, and talent development. It also involves aligning procurement’s operating model, governance, and technology infrastructure. A well-executed procurement strategy drives efficiency, improves spend visibility, strengthens supplier relationships, and positions the function as a strategic business partner focused on delivering measurable impact across the value chain.