>Initial comments to questions: Thursday, January 14, 2021, at 11:59 p.m. Central Time.

>Responses to other students: Sunday, January 17, 2021, at 11:59 p.m. Central Time.

see the textbook in the attached file

for further info i uploaded the guidlines

Chapter 1 is titled “An Overview of Global Strategic Sourcing” and includes the following topics:

• A model of the sourcing and procurement process
• Elements of a strategic sourcing plan
• Opportunity analysis
• Supply positioning
• Operational sourcing strategies
• The four main functions of the sourcing process
• The strategic sourcing model

Please read Chapter 1 before posting your responses to the following questions.

1. Figure 1.1 illustrates the distinct transition from sourcing to procurement (A contract is established). Is this transition more critical or less critical when working with global steel suppliers in 2021? Why?
2. New products require sourcing of new components each year to produce them. Please identify a new product you purchased in 2020 and explain which two new features or benefits were most valuable to you. Why were these features important to you?
3. Assume that you have been hired by the sourcing department of a firm that has decided to launch a new smartphone in 2021. While this firm has produced other electronic products in the past, this will be the first smartphone this firm brings to market. Describe how the four main functions of the Strategic Sourcing Model (Figure 1.3) could be used to develop a strategic sourcing strategy.