Smart sourcing can transform the way small to mid-sized businesses handle their procurement tasks. This approach involves using data, technology, and strong partnerships to lower costs, manage supplier relationships, and boost overall supply chain resilience. By planning carefully and choosing your strategies wisely, you can set your business up for success in an ever-evolving global marketplace. Below are ten tactics that can help you optimize your sourcing efforts, adapt to changing market conditions, and stay ahead of your competition. Diversify Your Supplier Base Relying on just one or two suppliers can lead to disruptions if something goes wrong—like a natural…