Lapasar
Sourcing & Suppliers

Sourcing

Sourcing is the activity of finding, evaluating and selecting the suppliers who will provide the goods or services an organisation needs.

WhatsApp us rfqme@lapasar.com

Sourcing sits at the front of the procurement process. It answers the questions of who can supply a requirement, at what price and on what terms, and how reliable each option is. Sourcing can be as simple as getting three quotes, or as structured as running a formal tender with weighted evaluation criteria.

Good sourcing balances price against quality, delivery reliability, financial stability and compliance. Marketplaces and consolidated catalogues shorten sourcing by putting many pre-vetted suppliers, with comparable pricing, in one place — reducing the time buyers spend chasing individual quotations.

Frequently asked questions

What does sourcing mean in procurement?
Sourcing is the process of identifying, evaluating and choosing suppliers for a requirement — comparing them on price, quality, reliability and compliance before an order is placed.
What is the difference between sourcing and procurement?
Sourcing is one stage of procurement — the finding and selecting of suppliers. Procurement is the full cycle that also includes ordering, receiving and paying.

Go deeper

Free RFQ template

Explore related across the knowledge graph

ToolTotal Cost of Ownership (TCO) CalculatorSee what a purchase really costs over its full life, not just at checkout.GlossaryCategory StrategyA category strategy is a tailored plan for managing all the spend within one procurement category to maximise value over time.GlossaryDual SourcingDual sourcing is the practice of using two suppliers for the same item to balance competitive pricing against supply resilience.GlossaryLow-Cost Country SourcingLow-cost country sourcing is the practice of buying goods or services from suppliers in countries with lower production costs to reduce unit prices.GuideCategory managementGrouping related spend into categories and running a dedicated, expert strategy for each one.GuideProcurement AcademyGuides, research and comparisons organised by procurement topic — the education hub for the knowledge graph.GuideSource-to-payThe full lifecycle from identifying a need and sourcing a supplier through to raising the order, receiving goods and paying the invoice.SolutionBecome a Lapasar VendorSell to enterprise and GLC buyers through Lapasar's managed marketplace, with fulfilment and payment handled for you.SolutionHow to Become a Supplier to Large Corporates & GLCs in MalaysiaA step-by-step guide for Malaysian businesses that want to sell to large corporates and GLCs — register the company, get MOF-ready where relevant, list on a B2B marketplace, and get paid early.SolutionProcurement for SMEs in MalaysiaProcurement for Malaysian SMEs without a procurement department — one account for 2M+ SKUs, credit terms for approved businesses and one consolidated invoice.ToolEarly Payment Benefit CalculatorSee what getting paid in days instead of months is worth to a supplier.ToolFree Procurement Tools & TemplatesEvery Lapasar procurement calculator plus editable RFQ, purchase order, policy and evaluation templates.TemplateAnnual Procurement Plan TemplateAn Excel plan that maps spend by category and quarter, with budget and sourcing-method columns for the year.TemplateSole Source Justification TemplateAn editable Word form that documents an audit-defensible case for a single-source or direct award.TemplateSupplier Ethics Declaration TemplateAn editable Word declaration setting out conduct, anti-bribery and integrity expectations for suppliers to sign.
Back to the procurement glossary

Put procurement theory into practice

Talk to our team about wholesale pricing, credit terms, sourcing support and delivery across Peninsular Malaysia — or explore the marketplace built for Malaysian enterprises.

Request a demoExplore enterprise procurement

Prefer to talk to a real person?

Our team replies fast on WhatsApp and email — no forms, no waiting.

WhatsApp us rfqme@lapasar.com