kimberlyharris2051 kimberlyharris2051

30-11-2022
Business

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sole sourcing is a process for developing relationships with many suppliers for long contract terms. true or false

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Tutorconsortium255 Tutorconsortium255

01-12-2022

As strategic partnerships, sole sourcing agreements are increasingly turning suppliers into de facto subsidiaries of their largest clients.

Overview of Sourcing

Sourcing, as it relates to procurement, is the process of locating, evaluating, and collaborating with suppliers to find cost savings and the best value for goods and services at a price point and under circumstances that leave the necessary margin to have a positive effect on the bottom line of the company. The sourcing process is carried out using a tendering process and applied at tactical and strategic levels in order to gain a competitive advantage. The objective is to find the best suppliers at the most competitive prices in order to create unique value.

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