Material Sourcing Definition

When it comes to manufacturing and production, Material Sourcing is the process of acquiring the raw materials needed to create a final product. This can involve procuring materials from suppliers, negotiating terms and prices, and arranging for delivery.

The goal of Material Sourcing is to obtain materials at the best possible price while ensuring that quality and delivery needs are met. To that end, Materials Sourcing professionals must have a solid understanding of both the market and the specific materials they need to acquire. They must also be skilled negotiators in order to get the best possible deals from suppliers.