Corporate sourcing refers to a system where divisions of companies coordinate the

procurement Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. The term may also refer to a contractual ...

and distribution of materials, parts, equipment, and supplies for the organization. This is a

supply chain A supply chain is a complex logistics system that consists of facilities that convert raw materials into finished products and distribute them to end consumers or end customers, while supply chain management deals with the flow of goods in distri ...

purchasing Purchasing is the procurement process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary gr ...

, and

inventory Inventory (British English) or stock (American English) is a quantity of the goods and materials that a business holds for the ultimate goal of resale, production or utilisation. Inventory management is a discipline primarily about specifying ...

function. This enables bulk discounting,

auditing An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing al ...

, and Sarbanes-Oxley compliance. Duties of a corporate sourcing agent include: #Coordinating all activities related to

of a

commodity In economics, a commodity is an economic goods, good, usually a resource, that specifically has full or substantial fungibility: that is, the Market (economics), market treats instances of the good as equivalent or nearly so with no regard to w ...

beginning with intent to purchase through delivery #Analyzing the requirements of the commodity, including preliminary specifications, preferred supplier, and date commodity is needed #Soliciting and evaluating proposals for the requested commodity. Investigating and/or interviewing potential suppliers to determine if they meet the specified requirements. Some of corporate sourcing agents: Richman Chemical, Onetouch, Worldwide Brands, SAOS

References

*Bussiek, T.: The Internet-based Supply Chain – New Forms of Procurement Utilizing Standard Business Software, in: Electronic Markets, 9, 3, 1999, pp. 147–152. *Saeed, K.; Leitch, R.: Controlling Sourcing Risk in Electronic Marketplaces, in: Electronic Markets, 13, 2, 2003, pp. 163–172. Supply chain management {{Business-stub

See also

References