Certification in Supplier Diversity Practice Exam

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Which of the following is NOT a step in the seven-step strategic sourcing process?

Benchmark supply market
Profile the supply stream
Conduct a market exclusion
Select sourcing strategies

The correct answer is: Conduct a market exclusion

The step that is not part of the seven-step strategic sourcing process is conducting a market exclusion. In the strategic sourcing process, the focus is on analyzing and selecting the best suppliers and sourcing strategies that align with an organization's goals. The other steps, such as benchmarking the supply market, profiling the supply stream, and selecting sourcing strategies, are integral to understanding market dynamics and making informed decisions. Benchmarking the supply market helps assess performance and competitiveness, profiling the supply stream allows for better insights into the flow of goods and services, and selecting sourcing strategies involves deciding how to approach procurement for maximum benefit. Market exclusion, however, indicates a strategy that would limit participation or access to certain suppliers or market segments, which does not align with the overarching goals of strategic sourcing that aims to explore and optimize supplier relationships. Thus, this step does not fit within the systematic approach of strategic sourcing.