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Procurement · Definition

Strategic Sourcing

A data-driven approach to selecting suppliers for long-term value.

Strategic sourcing goes beyond chasing the lowest price for one order. It analyses total spend, supplier capability and risk to build supplier relationships that deliver value over time.

It turns procurement from transactional buying into a deliberate, analytical discipline.

See it in AWRA OpsHub

Strategic Sourcing

Related terms

Request for Quotation

RFQ

An invitation to suppliers to submit priced quotes for specified items.

Supplier Scorecard

A structured rating of a supplier’s delivery, price and quality performance.

Maverick Spend

Purchasing made outside approved processes or contracts.

More in Procurement

Approval Workflow Approved Vendor List (AVL) Bid Evaluation Blanket Purchase Order Category Management Conflict of Interest (CoI) Contract Lifecycle Management (CLM) Cost Avoidance

Strategic Sourcing is not just a definition here

Procurement runs on this vocabulary every day in AWRA OpsHub — 40 of our 257 glossary terms describe things the platform actually does.

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