Strategic Sourcing Plan: Current Technologies

Strategic Sourcing Plan Author's Name: Institutional Affiliation: Date: Strategic Sourcing Plan According to Margaret Rouse (2012), a strategic sourcing plan is an approach that organizations use to manage the procurement processes by constantly re-evaluating sources, methods, and procedures to optimize the firm’s value. It is an essential facet of a company’s supply chain management which entails negotiating with suppliers, a landscape of producers and supply market, an examination of purchasing budgets, and frequent analysis of supply transactions. In this paper, we develop a high-level IT sourcing plan that will guide Phoenix Fine Electronics to adopt new and better solutions rather than multiple stand-alone systems. The current technologies being utilized by Phoenix Fine Electronics The Phoenix Fine Electronics is currently operating on three technologies; thus, Enterprise Resource Planning (ERP), Business Intelligence (BI), and Customer Relationship Management (CRM) systems. ERP technology is a program that is specialized in the management of the business by finding, storing, managing, and interpretation of data CITATION Meh16 \l 1033 (Mehta, 2016). On the other hand, BI is a platform which presents data in a specific, useful, and correct format that is suitable for each client in a manner that enables them to an informed and efficient decision. Lastly, (CRM) is a program with an organization which is orchestrated to meet the interests of a client. It is per se software or an application framework which allows augments a firm’s profitability through automation of vital processes in the organization.   Major issues with the technologies The use of the three technologies is marred with a wide array of challenges. Firstly, the three technologies are more or less related to each. This dramatically confuses people think that that ERP and BI are the same. Secondly, the development and maintenance of the three systems are costly CITATION Ang18 \l 1033 (Stringfellow, 2018). Hence, Phoenix Fine Electronics incurs many expenses to continue using and operating on the systems. Also, the systems need the firm to continuously conduct due diligence to enable the firm to evade ending up losing money and allow them to minimize the time it would spend on the projects CITATION Meh16 \l 1033 (Mehta, 2016). Moreover, the Phoenix Fine Electronics has employed a dedicated team of analytical and technical experts to gather, examine, and use the comprehensive data which is used in these systems. The experts are needed because handling and customization of the methods is a compound exercise which requires technical skills and expertise. New technologies to implement as replacements for current technologies Phoenix Fine Electronics indents to ex...