Strategic Sourcing Meaning in procurement is the process of identifying, evaluating, and selecting vendors to provide goods or services to an organization. It’s all about engaging in strategic planning to improve a company’s bottom line. It starts with understanding customer needs and tailoring a unique sourcing strategy to meet those needs. This includes assessing vendors for cost, quality, delivery, and customer service—all while ensuring that the company and its stakeholders remain compliant with current regulations. In short, Strategic Sourcing Meaning in procurement has the power to help any business be more competitive, efficient, and cost-effective.