Sourcing is tasked with carrying out research, creating and executing strategy, defining quality and quantity metrics, and choosing suppliers that meet these criteria.īy doing so, sourcing maintains the organization’s supply chain and guarantees that the organization always has access to the tools it needs to deliver on its objectives. Sourcing is the process of vetting, selecting, and managing suppliers who can provide the inputs an organization needs for day-to-day running. In this article, we’ll define exactly what sourcing and procurement are, why they matter, and how to do both better. While both are related and play key roles in your organization’s supply chain, they’re quite different and must be employed in different ways to ensure success in your organization. Judging by their surface meaning, it’s easy to think that sourcing and procurement are synonyms for getting supplies for an organization. You are Here: Sourcing Software > Sourcing vs Procurement
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