Strategic sourcing involves the business to business purchases that involved long term contracts through negotiations.
Given an incomplete sentence related to B2B purchases.
We are required to fill the sentence with appropriate term related to B2B purchases.
B2B purchases are the purchases which happens between two or more businesses.
Long term contracts are the contracts that involve huge time in completion.
The term which is suitable for the B2B purchases involving long term contracts developed through negotiations is strategic sourcing.
Strategic sourcing is basically a procurement process that connects data collection, spend analysis,market research , negotiation and contracting.
Hence strategic sourcing involves the business to business purchases that involved long term contracts through negotiations.
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