Mastering supplier sourcing in today’s competitive market

Mastering Supplier Sourcing in Today’s Competitive Market

In today’s rapidly changing global landscape, securing multiple reliable suppliers with competitive prices, favorable payment terms, and on-time deliveries has become more critical than ever for business success. Whether you’re a small startup or an established enterprise, having access to a wide range of options and alternatives is no longer just an advantage—it’s a necessity.

The Importance of Sourcing in the Current Business Climate

There has never been a better time to take sourcing seriously, especially in Europe. However, sourcing is more than just checking off a few tasks or requesting the cheapest quotes. It demands time, patience, and focus. Sadly, sourcing is often confused with transactional procurement, which adds no real value. Transactional procurement, commonly automated through technology, involves repetitive tasks that do not contribute to optimizing the market.

In contrast, sourcing requires a human touch to get the best results from the market. It’s about finding the right suppliers, negotiating favorable terms, and ensuring that the product or service meets your needs. This kind of strategic sourcing cannot be effectively achieved by simply using automated tools or relying on a generic transactional approach.

Challenges Internal Procurement Teams Face

Many internal procurement teams are heavily burdened by strict compliance requirements and internal procedures. Their role is often focused on meeting organizational policies rather than identifying the best suppliers across a broader market. This restrictive approach can stifle creativity and prevent teams from exploring the most competitive and innovative suppliers available.

As a result, sourcing tasks become sluggish, and opportunities are often missed—sometimes because the “ship has sailed.” We’ve seen this happen firsthand. One of our clients was stuck in this loop for two years, struggling to make progress due to shifting priorities and internal delays. When this project was entrusted to us, we found the solution they needed in just six weeks—a timeline that was drastically reduced thanks to our dedicated focus and flexibility.

The Case for Separating Sourcing from Procurement

With nearly 20 years of experience in procurement, I firmly believe the best approach is to separate sourcing from other procurement tasks. By focusing exclusively on sourcing, you gain agility and the ability to explore creative solutions that may be missed by teams bound by compliance-heavy internal structures. Removing repetitive transactional tasks from the equation gives you the time and space to research, analyze, and negotiate the best deals and terms.

Why Outsourcing Sourcing Works

If your internal team can’t fully dedicate themselves to sourcing or doesn’t have the flexibility to think beyond conventional processes, it may be time to consider outsourcing this task. There are service providers, including Alt-Source, who specialize in handling sourcing tasks from start to finish.

We focus solely on finding the right suppliers, securing the best prices, negotiating favorable payment terms, and managing delivery schedules that meet your specific requirements.

Our external approach allows us to work independently from internal procurement procedures, giving us the freedom to explore more supplier options and secure the most competitive deals. By doing this, we deliver tangible results to our clients, ensuring that they receive the best market solutions within their desired timelines.

The Bottom Line: Boost Your Procurement Efficiency with External Sourcing Experts

At Alt-Source, we understand that sourcing is about more than just ticking boxes. It’s about finding the right solutions, negotiating optimal terms, and ensuring your supply chain is efficient and cost-effective. Our approach allows us to go beyond transactional procurement and focus on sourcing that brings real value to your business.

Contact us today for a free 30-minute online meeting to discuss how we can help you get exactly what you need and want from the market –

Or, feel free to send us a message directly.

Facebook
WhatsApp
LinkedIn