Explain strategic level of supply optimization?

Strategic level of supply optimization involves developing long-term plans and strategies to optimize the supply chain and procurement processes of an organization. This level of optimization focuses on aligning the supply chain with the overall business goals and objectives of the organization.

At the strategic level, organizations analyze their supply chain networks, supplier relationships, inventory management practices, and sourcing strategies to identify opportunities for improvement and cost savings. They also consider factors such as market trends, regulatory requirements, and technological advancements to make informed decisions about their supply chain operations.

Strategic supply optimization may involve implementing new technologies, reconfiguring supply chain networks, renegotiating supplier contracts, or developing new sourcing strategies. The goal is to create a more efficient and cost-effective supply chain that can better support the organization's growth and competitiveness in the market.

Overall, strategic supply optimization is essential for organizations to stay competitive, reduce costs, and improve their overall supply chain performance. It requires a holistic approach that considers the entire supply chain ecosystem and aligns it with the organization's strategic objectives.