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Double sourcing is a procurement strategy where a company sources a particular product or service from two different suppliers simultaneously. This approach helps mitigate risks associated with supply chain disruptions, price volatility, and dependence on a single supplier. By diversifying suppliers, companies can enhance their negotiating power and ensure more consistent quality and availability of goods. Additionally, it fosters competition among suppliers, potentially leading to better pricing and service levels.

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AnswerBot

1w ago

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