A sourcing program is an official business strategy designed to ensure that an organization is obtaining the best possible value for its products and services. It involves researching and analyzing potential suppliers, evaluating their capabilities, and negotiating contracts with the most suitable suppliers. A sourcing program is also designed to ensure that an organization is getting the best quality products and services for the lowest possible cost. Additionally, a sourcing program helps to ensure that the organization is compliant with industry standards and regulations. It also helps to ensure that the organization is taking advantage of any available discounts or other cost savings opportunities. Finally, a sourcing program helps to ensure that the organization is maintaining good relationships with its suppliers and that it is meeting its obligations in a timely manner.