A Day In The Life Of A Product Sourcing Specialist

Have you ever wondered what a sourcing expert does in a day? Are you trying to break into the career yourself? In case you're new to the industry, it's best if we clear the air and define the space for you first. Hang tight, we're going a little bit geeky now.

What is sourcing?

Sourcing, or product sourcing, is the process of identifying, evaluating, and engaging suppliers to acquire goods and services. It encompasses a range of activities aimed at securing the necessary inputs for a business's operations.

• What are sourcing strategies? 

  Sourcing strategies involve the overarching plans and approaches a company uses to obtain goods and services. These strategies can vary widely depending on the type of product, market conditions, and business objectives.

• How does sourcing work? 

  Sourcing typically begins with identifying a need for a particular product or service. This is followed by researching potential suppliers, evaluating their capabilities, negotiating terms, and ultimately establishing a relationship for procurement.

• What are the steps involved in sourcing? 

  While the exact steps can vary, common stages in the sourcing process include needs assessment, supplier research, request for proposal (RFP) or quotation (RFQ), evaluation, negotiation, and contract finalization.

  
  

• How to leverage ai to perform product sourcing?

  By leveraging artificial intelligence, our technology reduces the need for extensive desktop research, numerous phone calls, and back-and-forth communication for product identification and sampling.

  
  

  Imagine an AI agent that can quickly identify suitable products , generates accurate quotations for you in seconds, and handles supplier queries for you in the background.

  
  

  As you can imagine, it vastly accelerating the initial stages of the sourcing journey. This shift promises to free up valuable time for sourcing experts, allowing them to focus on strategic decision-making and relationship building, rather than getting bogged down in the minutiae of manual search and coordination.

  
  

  Read more: Sourcy's inteliigent souricng process for brands large and small

What Sourcing Isn't

Sourcing is the process that comes before purchasing events, which typically is handled by procurement and merchandising teams (some calls it buying offices).

• Which comes first, sourcing or procurement? 

  Sourcing typically precedes procurement. You first identify who can supply the goods (sourcing) before you actively purchase them (procurement).

  
  

• Is sourcing the same as procurement? 

  Sourcing isn't procurement, even though they are often used interchangeably. Sourcing is the strategic process of identifying and selecting suppliers, while procurement is the tactical process of acquiring the goods or services, including activities like ordering, expediting, and payment.

• How can I improve my sourcing process? 

  Improving the sourcing process often involves leveraging technology, refining supplier evaluation criteria, enhancing communication with suppliers, and continuously analyzing market trends to identify new opportunities. Sourcing tools may be helpful instruments to streamline activities. These can range from online directories and supplier databases to more advanced software solutions.

  
  

• Any solutions out there to speed up my sourcing work streams?

  The challenges faced by sourcing professionals in their day-to-day work underscore the need for more efficient and effective solutions. The traditional process, with its heavy reliance on manual research and extensive communication, can be significantly optimized.

  Read more: A Guide to Successful Product Sourcing For Local businesses

  
  

So, Who Is Considered A Sourcing Expert?

For a sourcing expert, their typical day often involves a meticulous and time-consuming process of identifying the right products and suppliers. This can include extensive desktop research, numerous phone calls, and constant back-and-forth communication to pinpoint suitable options. Once a potential product is identified, the next hurdle involves arranging samples and engaging in further rounds of communication to finalize details. This traditional approach, while effective, can be cumbersome and lengthy.

The "Human Search Engine" 

In the past, and still in many cases today, traditional sourcing agents can be thought of as "human search engines." They build vast networks of contacts and deep industry knowledge over years, allowing them to recall specific factories or suppliers for highly niche products from memory. For example, a veteran sourcing agent specializing in textiles might know offhand which particular mill in Vietnam is best for organic cotton twill with a specific thread count and dyeing capability, a level of detail that traditional online searches might struggle to unearth quickly. This personal expertise, while invaluable, is often built slowly and can be highly localized.

Time is money, and sourcing takes time

The challenges faced by sourcing professionals in their day-to-day work underscore the need for more efficient and effective solutions. The traditional process, with its heavy reliance on manual research and extensive communication, can be significantly optimized.

This is where Sourcy's AI sourcing agent come into play.

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Meet Sourcy – Your Global Sourcing Partner

We are an intelligent sourcing platform built for modern global trade, powered by AI, run by passionate people. we help B2B businesses scale by providing end-to-end sourcing solutions - from supplier matching and negotiation to delivery, fulfillment, and quality assurance.

Whether you need white-labelled products, fully customized goods, or design-to-production sourcing, we handle it all. We help you source smarter, grow faster, and scale seamlessly.

Join hundreds of companies to streamline procurement, reduce risk, and source smarter. Contact Sourcy today and let us build a better supply chain for you.

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