-Single sourcing:
Single sourcing of an item means that the company adopts the practise of purchasing all its
requirements for an item or service from one supplier although a number of suppliers may have
the capability to supply. In sole sourcing, only one supplier supplies all the goods.
-Multiple sourcing:
Multiple sourcing of item(s) means that the company adopts the practice of purchasing all its
requirements from various suppliers in the market. The objective of multiple sourcing is to
maximize benefit on prices and services. In situations of multiple sourcing, both buyers and
suppliers feel a high level of uncertainty and therefore there are multiple controls to ensure
successful transaction.
Titany answered the question on November 25, 2021 at 05:10
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