Strategic Sourcing In the Construction Industry

This study explores the impact of strategic sourcing practices on procurement success in the construction industry, with a specific focus on green sourcing, supplier relationship management, advanced technologies, and risk management practices. Using regression analysis, the research investigates how the adoption of these practices influences procurement outcomes, such as cost efficiency, time management, and supplier performance. The findings indicate that green sourcing, the use of advanced technologies like AI and block chain, effective supplier relationship management, and comprehensive risk management strategies all contribute significantly to procurement success in construction projects. The study suggests that adopting these strategies can lead to improved supplier reliability, enhanced material availability, and reduced supply chain disruptions, ultimately resulting in more successful procurement processes. This research provides both theoretical and practical insights into how the construction industry can leverage strategic sourcing to improve procurement outcomes. The study highlights the growing importance of sustainable procurement practices and technological integration, while also addressing the challenges and barriers faced by companies in implementing these strategies. Furthermore, the research offers recommendations for future research and managerial strategies to further enhance procurement practices in construction projects. This study contributes to the growing body of literature on procurement and sourcing practices in the construction industry and provides valuable insights for both scholars and practitioners.