Sourcing Services

Process of identifying, evaluating, and selecting suppliers or vendors to fulfill the needs of a business or organization.

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Sourcing Services

Identifying Needs

Understand the specific goods or services the business requires.
Determine the quantity, quality, and any specific requirements

Supplier Identification

Research potential suppliers within the industry.
Consider factors such as reputation, reliability, and quality.

Supplier Evaluation

Assess potential suppliers based on criteria such as cost, quality, delivery time, and reliability.
Check references and reviews

Request for Proposal (RFP)

Detailed requests to potential suppliers, outlining your requirements
Request pricing, terms, and any other relevant information

Negotiation

Engage in negotiations with selected suppliers to finalize terms and conditions.
Negotiate pricing, delivery schedules, and any other relevant terms

Contracting

Draft and finalize a formal contract that outlines the agreed-upon terms.
Include details such as payment terms, delivery schedules, and quality standards.