What is the best definition of sourcing?
A)A procurement strategy aimed at exploiting global efficiencies in production.
B)The act of releasing previously proprietary software under an open source/free software license
C)A strategy that treats a given function that should be performed by internal staff.
D)A set of business processes required to purchase goods and services which are crucial due to their effect on other factors throughout the supply chain

Question

Quizplus · Accepted Answer

Sourcing is a set of business processes required to purchase goods and services. Sourcing decisions are crucial for a firm because they affect all other inventory decisions, as well as the level of efficiency and responsiveness the supply chain can achieve.

What Is the Best Definition of Sourcing