what global procurement strategy can lead to procurement excellence and improve Aldi's competitive advantage?

A procurement strategy is a defined plan and technique that organisations use to seek and buy goods, services, or resources required to support their operations. An efficient procurement strategy connects with organisational goals, takes advantage of economies of scale, encourages supplier collaboration, and places a premium on sustainability and risk management during the procurement process. In this given case Aldi, a key company, intends to strengthen its competitive edge by implementing an effective worldwide procurement strategy. This strategy entails taking advantage of supplier relationships, optimising supply chains, embracing sustainability, controlling risks, and encouraging innovation. These actions will strengthen Aldi's industry position and drive long-term growth.