Strategic sourcing in the automotive industry is crucial to the success of an individual company. This aspect of the automotive business involves determining the best use of a firm’s resources throughout the corporate structure. Strategic sourcing professionals need to find the best ways to schedule employees and machinery in order to maximise a plant’s potential. As well, strategic sourcing professionals need to work with dealerships and warehouses to determine the number of vehicles that need to be moved to specific locations. Strategic sourcing, in essence, ensures that the right materials and finished products are at the right place at the right time.
Strategic sourcing professionals have to deal with the stress of manipulating millions of pounds worth of equipment and goods on a daily basis. As such, strategic sourcing positions require a certain set of skills in order to ensure success. Graduates and experienced professionals alike need to build a dynamic skill set in order to succeed and advance within the strategic sourcing field. One of the most important skills that a strategic sourcing professional must have is knowledge of the automotive industry. This knowledge must include information on their employer, competitors, and trends within the automotive field. Without a comprehensive knowledge of the automotive industry, a strategic sourcing professional is left in the dark. An extensive understanding of the marketplace means that a sourcing worker can locate the best places to penetrate new markets and the best ways to shore up older markets.
In addition to an extensive knowledge of the industry, strategic sourcing requires an ability to assimilate complex ideas and thoughts into a coherent vision. In essence, these professionals need to be able to take a dozen actions and thoughts and place them into one cohesive structure. New model promotions, the current output of production plants, and current company specials on a certain vehicle are only a few of the considerations of a strategic sourcing professional. The ability to process this information quickly is vital to professional success.