Procurement Terms



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Source-to-contract (S2C)
Source to Contract (S2C) is a strategic and systematic process that encompasses the activities involved in sourcing goods or services for an organization, starting from the identification of sourcing needs and requirements through to the creation of contracts with selected suppliers. S2C is a critical part of the broader procurement lifecycle and typically includes the following steps:

  1. Requirement Identification
  2. Supplier Identification
  3. Supplier Evaluation and Selection
  4. Request for Proposal (RFP)
  5. Bid Evaluation and Negotiation
  6. Contract Creation
The Source to Contract process aims to ensure that the organization secures the best value and quality from suppliers while mitigating risks and adhering to legal and regulatory requirements. It involves strategic sourcing, supplier evaluation, bidding, negotiation, and contract management activities. By following an effective S2C approach, organizations can optimize their procurement processes, achieve cost savings, enhance supplier relationships, and improve overall operational efficiency.
Category Management Procurement Process Sourcing Supplier Management