What is strategic sourcing?

Strategic sourcing is a sourcing method that involves applying different strategies while sourcing products or services. Strategies are selected based on real-time circumstances of each acquisition and influenced by factors such as the value of spend, risk in the category and the supply market character. Crowd sourcing, outsourcing, global sourcing, and low cost country sourcing are a few of the many types of sourcing strategies. Learn more about GEP’s strategic sourcing services.