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Supplier Sourcing


Glossary

What is Supplier Sourcing?

Supplier Sourcing is a multifaceted set of activities centered around the identification, assessment, selection, and engagement of potential suppliers, with a primary focus on obtaining the best value in terms of both product quality and cost. While the process may seem straightforward, effective supplier sourcing entails extensive market research to pinpoint suppliers capable of delivering high-quality goods and services.

For buyers, the journey of supplier sourcing goes beyond mere identification. It involves intricate negotiations to secure favorable contracts, ensuring the best possible pricing and establishing mutually beneficial payment terms with the chosen suppliers.

Learn more about Ivalua's Sourcing Software Solutions.

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