is conducted to improve the performance of a firm's existing sourcing activities.
Explanation:
The first step of the strategic sourcing process, which is sometimes kicked off in response to an entirely new need within an organization, in the vast majority of cases, is <u>conducted to improve the performance of a firm's existing sourcing activities</u>. Strategic sourcing process involves developing channels of supplies of inputs or product at the lowest possible cost. The first step in strategic sourcing process involved conducting an internal needs assessment of the sourcing gaps of the organization and the best sourcing strategy to adopt.
