ABSTRACT
This chapter examines the advantages and disadvantages of a range of sourcing strategies including single and multi-sourcing as well as hybrid sourcing strategies including parallel, network and triadic sourcing. It explains the nature and appropriateness of partnership sourcing. The chapter aims to illustrate and apply sourcing and supplier relationship portfolio models. It also explains the meaning and increased importance of supplier relationship management and critical relationship constructs including trust, commitment and power. The chapter explores the main stages of supplier relationship management implementation. It is concerned two important issues in purchasing and supply management: sourcing strategy and supplier relationship management. The global financial crisis, which hit the world in 2008, created such turbulence and uncertainty that companies that had relied on extensive single sourcing found their supply chains unable to cope with the new conditions. Changes in purchasing and supply management practices have altered the way that organizations manage supplier relationships.
