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Supply Chain Glossary - S

Supply Chain Glossary - S

strategic planning

The process of developing a strategic plan. See: operational planning, strategic plan, tactical planning.

The development and management of supplier relationships to acquire goods and services in a way that aids in achieving the immediate needs of a business. It is entirely aligned with the sourcing portion of managing the procurement process. See: tactical buying.

The strategy of an enterprise identifies how a company will function in its environment. The strategy specifies how to satisfy customers, how to grow the business, how to compete in its environment, how to manage the organization and develop capabilities within the business, and how to achieve financial objectives. See: strategic plan.


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