A sourcing strategy process is an important part of any business. It is a formalized approach to sourcing goods and services that are necessary for the success of the business. The process involves a comprehensive analysis of the company’s needs, the available resources, and the market conditions to determine the best approach to sourcing. This includes the selection of vendors, negotiation of terms, and management of the relationship with the vendors. The goal of the process is to ensure that the company obtains the best value for its money while also ensuring that the vendors meet the company’s needs. It is important to have a clear and consistent strategy for sourcing that is well documented and communicated to all stakeholders. This will help ensure that the company is able to obtain the best value for its money and that the vendors are able to meet the company’s needs.