Strategic Sourcing Procurement is an official business process that involves the acquisition of goods and services from external suppliers. It is a systematic approach to purchasing that focuses on optimizing the total cost of ownership of the goods and services that are acquired. Strategic Sourcing Procurement is a long-term process that requires an in-depth analysis of the market and the organization’s needs. It involves the evaluation of the total cost of ownership of the goods and services that are acquired, including the cost of the goods and services, the cost of storage and delivery, and the cost of any additional services that may be required. Strategic Sourcing Procurement also requires an understanding of the supplier’s capabilities and the organization’s requirements in order to ensure that the right supplier is chosen for the job. The process also requires an analysis of the current and future market trends in order to ensure that the organization is able to obtain the best possible deal. By taking a strategic approach to procurement, organizations can ensure that they are able to get the best value for their money.