Difference between revisions of "Sourcing"
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Sourcing process includes every activity that revolves around identifying and assessing potential suppliers as well as selecting and engaging with an appropriate supplier who offers the best value. At the end of the sourcing process, usually a [[purchasing contract]] is signed or an agreement is reached between the buyer and the supplier on what is to be [[ | Sourcing process includes every activity that revolves around identifying and assessing potential suppliers as well as selecting and engaging with an appropriate supplier who offers the best value. At the end of the sourcing process, usually a [[purchasing contract]] is signed or an agreement is reached between the buyer and the supplier on what is to be [[Purchase order|procured]] and the terms of contract. | ||
== Relevant articles: == | == Relevant articles: == | ||
Latest revision as of 09:28, 3 May 2023
Sourcing process includes every activity that revolves around identifying and assessing potential suppliers as well as selecting and engaging with an appropriate supplier who offers the best value. At the end of the sourcing process, usually a purchasing contract is signed or an agreement is reached between the buyer and the supplier on what is to be procured and the terms of contract.