The 7 Step Strategic Sourcing Process is an organized, systematic approach to acquiring goods and services for a business. It is designed to help businesses identify the best suppliers and negotiate the best terms for their goods and services. The 7 Steps involve researching the market, assessing suppliers, developing a request for proposal, evaluating bids, selecting a supplier, negotiating a contract, and managing the relationship. The official business definition of the 7 Step Strategic Sourcing Process is a set of activities and methods used to identify, assess, and select suppliers to provide goods and services that meet a business’s needs. It is a step-by-step process that requires careful consideration of all aspects of a potential supplier, such as their ability to provide the goods or services, their financial stability, and their reputation. The 7 Step Strategic Sourcing Process ensures that businesses are making informed decisions when choosing their suppliers, and helps to ensure that the best possible terms are negotiated. The process is designed to help businesses save time and money by making