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Purchasing Strategy
The purchasing strategy must align with the enterprise's supply chain strategy and integrate with the manufacturing strategy. Once developed, a spend portfolio strategy can be developed to guide the Procurement organization toward applying collaborative vs. competitive sourcing strategies with specific commodities or product categories.
  
Strategic Sourcing
Strategic sourcing optimizes the relationship between the end-users' needs and the supply market's capabilities to obtain the maximum value from the best suppliers.

Transaction Management
Having a contract with a supplier does not ensure that the enterprise is always realizing the highest value.  These processes can be managed centrally, yet executed locally.

Supplier Relationship Management
All suppliers are not created equally, nor should they be managed the same. These management processes allow new suppliers to be rapidly integrated into the enterprise and then effectively managed throughout the relationship lifecycle.