sourcingsystem
nounUK /ˈsɔːsɪŋ ˌsɪstəm/
US /ˈsɔːrsɪŋ ˌsɪstəm/
A way of finding and getting the things a company needs to make its products.
The factory uses a sourcing system to buy raw materials from many different suppliers.
RELATED WORDS
OTHER MEANINGS
2. Software that helps a business find and compare suppliers.
Our new sourcing system automatically compares prices from five vendors.
3. The organized process of choosing where to get goods or services.
A good sourcing system helped the school get cheaper books.
4. A method for tracking where materials come from.
The sourcing system shows that the cotton comes from local farms.