What is supplier procurement?
Sourcing” is an anglicism adopted in common parlance that can be literally translated as “sourcing”, the act of actively looking for different ways to obtain something. In business, the practice of sourcing can extend to areas such as human resources, IT services, suppliers or distributors (after that: “partners”).
Used mainly in the private sector, partner sourcing is an activity that consists of researching, comparing and evaluating several potential partners to select the most appropriate ones.
From the identification of needs to the signature of supply contracts, including negotiations and quality control of products: sourcing is an essential process that allows you to identify the partners offering the best guarantees for your company (quality, price and production time).
Partner sourcing therefore refers to a company’s approach in identifying potential new partners and comparing them to obtain the best ratio between quality, price, production time and revenue, including turnover; its goal is to reduce a company’s purchasing costs.
It involves detailed prospecting objectives to better understand the economic and technical environment and refine the specifications. This step should not be neglected, because to select the best partners, you must first know precisely what you are looking for and where to find it.
Are you looking for manufacturers, wholesalers, distributors?
Identifying the right type of partner is essential, but not sufficient: you also need to find it in the right place.
The sourcing of partners can therefore be national or international. In the case of a foreign search, you have more products, services and manufacturers at your disposal. The only constraints are the quality control of the goods, the communication with the suppliers, and the shipping time. But these limitations are easily overcome by using a company that specializes in global sourcing.
MEDiVICE works with consultants in Europe, Asia and North America. An international presence guarantees a fundamental knowledge of the world markets and, above all, a local anchoring.