What is Sourcing Event?
A formal procurement activity such as an RFx or e-Auction designed to select and negotiate with suppliers.
Definition
A sourcing event is any structured, time-bound competitive process run to select a supplier and agree terms - an RFI, RFP, RFQ, auction, or a multi-stage combination of them.
How it works in practice
A single event might run a sealed technical qualification stage, shortlist four suppliers, then open a live reverse auction on price among those four - one event, three stages, one audit trail from criteria to award.
Why it matters
Treating the event as the unit of record, rather than the individual documents, is what makes an award reconstructable months later: the criteria, the participants, the bids and the decision sit together.
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