Definition, Meaning & Synonyms

sourcing

noun

/ˈsɔːrsɪŋ/

Definition

The process of finding and acquiring goods, services, or information from different suppliers or resources.

Examples

Effective sourcing strategies can help companies reduce costs and improve product quality.
The sourcing of raw materials is essential for manufacturing processes.
She is responsible for sourcing new vendors for the company.

Meaning

Sourcing refers to the activities involved in identifying, procuring, and managing suppliers and products or services needed by a business. It plays a crucial role in supply chain management.