What is Outsourcing, Sourcing, and Procurement of Raw Materials in the Food and Beverages Industry?
Outsourcing involves a business engaging a third-party organization to perform tasks traditionally handled in-house. In the context of the F&B industry, sourcing and procurement are vital processes for acquiring raw materials essential for manufacturing. Sourcing entails locating products outside the company, while procurement involves negotiating contracts to secure these materials at the best possible prices from reliable and reputable suppliers, ensuring steady production.