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The primary function of strategic sourcing and RFQ (Request for Quotation) analysis is to negotiate the best contracts and support corporate goals. Strategic sourcing involves a comprehensive approach to procurement that considers various factors beyond just price, including total cost of ownership, vendor capabilities, and alignment with the company's broader strategic objectives.

Through RFQ analysis, organizations evaluate multiple suppliers and their proposals to determine which offers the best value while fulfilling their specific needs. This process supports corporate goals by ensuring that the procurement decisions contribute positively to the organization’s financial performance and sustainability by securing advantageous terms and conditions.

Moreover, effective negotiation is a key aspect of this process, ensuring that not only are costs minimized, but that contracts are structured in a way that allows for flexibility, quality assurance, and adherence to delivery schedules, ultimately aiding in the overall success of the company's supply chain strategy.