Sourcingare

Sourcingare is a term used in business discourse to describe an integrated approach to procurement that combines strategic sourcing with ongoing care for suppliers and their ecosystems. The concept treats supplier relationships as living networks that require continuous monitoring, development, and ethical stewardship, rather than as one-time transactions. The exact origin of the term is unclear; it appears in scattered articles and discussions in the early 2020s and is not recognized as a formal standard.

Core components of sourcingare include strategic sourcing, supplier relationship management, risk assessment and mitigation, and sustainability and ethics. It emphasizes transparency, data-driven decision making, and collaboration, seeking to align procurement objectives with broader corporate responsibility goals. Practices commonly associated with sourcingare involve mapping supplier ecosystems, defining minimum ethical and environmental standards, using quantitative scorecards, and investing in supplier development programs to improve capabilities and resilience.

In application, organizations implementing sourcingare aim to reduce supply chain risk, enhance resilience to disruptions, and foster innovation through closer supplier collaboration. Proponents argue that it can lead to more stable costs, better quality, and social license to operate, while critics caution that broadened focus may complicate decision making and add administrative burden.

Sourcingare remains a relatively informal concept lacking universal definition or formal metrics. It intersects with related fields such as procurement, supply chain management, supplier relationship management, and corporate social responsibility.