Sourcing is the process of locating and evaluating potential suppliers, vendors, or contractors for the purpose of purchasing goods or services needed for a business. It encompasses the entire process from researching market trends to finding the best value in terms of cost and quality. A sourcing expert specializes in all aspects of this process and can help a business effectively manage and reduce costs while meeting their procurement requirements.
The scope of work for a sourcing expert may include identifying potential suppliers, negotiating pricing contracts, optimizing supplier performance, and monitoring global market trends. They may also need to develop methods to increase efficiency and track cost savings. Depending on the size of your business, they might also perform vendor management duties such as monitoring vendor performance, evaluating quality assurance metrics, and auditing contractual documents.
In order to interview and select the right expert for your needs, you should prepare a list of required tasks and qualifications. You should then review resumes or Freelancer profiles based on these criteria and check references for each candidate. Hourly rates for sourcing experts vary depending on their experience, so be sure to budget accordingly. Generally speaking, you can expect to pay $25-50 per hour for an entry-level freelancer and $50-60 per hour for an experienced professional.
Hiring the right sourcing expert can provide long-term benefits to any business by streamlining procurement processes, fostering relationships with key vendors, increasing supplier accountability, and reducing costs over time – all advantages that outweigh the cost of an expert’s hourly rate. Freelancer.com offers competitively priced freelance sourcing professionals who are vetted by the platform and come backed with quality service guarantees — so take advantage now and get started finding your perfect fit!