Sourcing: meaning, definitions and examples

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sourcing

 

[ ˈsɔːrsɪŋ ]

Verb
Context #1 | Verb

business

The process of finding, evaluating, and engaging suppliers to provide goods or services for a company.

Synonyms

acquisition, procurement, purchasing

Examples of usage

  • Effective sourcing can lead to cost savings for the company.
  • Companies often outsource their sourcing to specialized firms.
  • Sourcing requires careful negotiation and relationship management.

Translations

Translations of the word "sourcing" in other languages:

🇵🇹 obtenção

🇮🇳 स्रोत

🇩🇪 Beschaffung

🇮🇩 sumber

🇺🇦 джерелознавство

🇵🇱 pozyskiwanie

🇯🇵 調達

🇫🇷 approvisionnement

🇪🇸 abastecimiento

🇹🇷 temin

🇰🇷 소싱

🇸🇦 المصادر

🇨🇿 zdrojování

🇸🇰 zdrojovanie

🇨🇳 采购

🇸🇮 nabava

🇮🇸 öflun

🇰🇿 сатып алу

🇬🇪 მიწოდება

🇦🇿 təchizat

🇲🇽 abastecimiento

Etymology

The term 'sourcing' originated in the business world and has become increasingly popular in the context of supply chain management. It emphasizes the strategic process of finding the best suppliers and partners to meet the company's needs.

See also: insourcing, outsource, sources.

Word Frequency Rank

Positioned at #21,406, this word is part of extensive vocabulary. It's relatively rare in general usage but may be important in specific fields or formal writing.