The official business definition of Strategic Sourcing Process is a comprehensive approach to the procurement of goods and services. It involves the analysis of current and potential suppliers, the negotiation of prices and terms, and the selection of the most cost-effective and reliable supplier. Strategic Sourcing Process is an important part of the overall procurement process, as it helps to ensure that the organization is getting the best value for its money. The process involves analyzing the current and potential suppliers, evaluating their capabilities, and negotiating prices and terms. Additionally, it involves the selection of the most cost-effective and reliable supplier. This process helps to ensure that the organization is getting the best value for its money, as well as reducing the risk of potential supplier issues. Furthermore, Strategic Sourcing Process helps to create long-term relationships with suppliers, as well as ensuring that the organization is getting the best possible quality of goods and services. Ultimately, Strategic Sourcing Process helps to ensure that the organization is getting the best value for its money, as well as reducing the risk of potential supplier issues.