Sourcing


Sourcing seeks to find, evaluate and engage suppliers to achieve cost savings and best value for goods and services which can be done through a tender process. Factors such as reliability, quality, flexibility and capacity are considered in the tendering process alongside price.

CIPS Procurement Topics

Related concepts

How to Prepare and Evaluate Tenders

An offer, usually in writing, to execute work or supply goods or services at a stated price, and under stated conditions.

Find out more

Sourcing

Reactive and strategic sourcing approaches are not mutually exclusive, however, strategic approaches are preferable because of their inherent ability to maximise...

Find out more