Sourcing strategy development is a critical part of any business’s operations. It involves the process of creating a plan for the procurement of goods and services from external sources. This plan is designed to ensure that the company is able to acquire the necessary materials and services at the best possible price and quality. It also involves assessing the risk associated with each potential supplier and developing a strategy to minimize that risk. The strategy should also include the development of a system to monitor the performance of the suppliers and to ensure that the company is getting the best value for its money. Ultimately, the goal of sourcing strategy development is to ensure that the company is able to maximize its return on investment while minimizing its risk.