Sourcing

Sourcing is the process of finding, evaluating, and selecting suppliers to provide the goods, materials, or services a company needs. In manufacturing, sourcing encompasses everything from identifying potential factories and requesting quotes to negotiating terms and establishing supply agreements.

Effective sourcing considers not just unit price but total cost of ownership, quality capability, lead times, geographic location, compliance, and supply chain risk. Sourcing is the core activity that Speya (formerly Find My Factory) enables. The platform connects product companies with manufacturing partners that match their specific production requirements, industry, and market needs.