Corporate sourcing refers to a system where divisions of companies coordinate the

procurement Procurement is the method of discovering and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. When a government agency buys goods or s ...

and distribution of materials, parts, equipment, and supplies for the organization. This is a

supply chain In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activ ...

purchasing Purchasing is the process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly bet ...

, and

inventory Inventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation. Inventory management is a discipline primarily about specifying the sha ...

function. This enables

bulk discounting Bulk can refer to: Industry * Bulk cargo * Bulk liquids * Bulk mail * Bulk material handling * Bulk pack, packaged bulk materials/products * Bulk purchasing * Baking * Bulk fermentation, the period after mixing when dough is left alone to ferm ...

auditing An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing ...

, and Sarbanes-Oxley compliance. Duties of a corporate

sourcing agent Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and ...

include: #Coordinating all activities related to

of a

commodity In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a co ...

beginning with intent to purchase through delivery #Analyzing the requirements of the commodity, including preliminary specifications, preferred supplier, and date commodity is needed #Soliciting and evaluating proposals for the requested commodity. Investigating and/or interviewing potential suppliers to determine if they meet the specified requirements. Some of corporate sourcing agents:

Richman Chemical Richman Chemical Inc. (RCI) is a chemical sourcing company founded in 1988 by Ed Richman Ph.D., located in Lower Gwynedd, Pennsylvania. Richman Chemical Inc. provides project management, custom/contract manufacturing and sourcing services to li ...

, Onetouch,

Worldwide Brands Worldwide may refer to: * Pertaining to the entire world * Worldwide (rapper) (born 1986), American rapper * Pitbull (rapper) (born 1981), also known as Mr. Worldwide, American rapper * ''Worldwide'' (Audio Adrenaline album), 2003 * ''Worldwide' ...

, SAOS

References

*Bussiek, T.: The Internet-based Supply Chain – New Forms of Procurement Utilizing Standard Business Software, in: Electronic Markets, 9, 3, 1999, pp. 147–152. *Saeed, K.; Leitch, R.: Controlling Sourcing Risk in Electronic Marketplaces, in: Electronic Markets, 13, 2, 2003, pp. 163–172. Supply chain management {{Business-stub

See also

References