Which sourcing strategy involves reducing the supplier base to a few long-term partners?

Sole sourcing refers to the practice of procuring goods or services from a single supplier for a specific item, often due to unique capabilities or exclusivity. While it may involve a singular supplier, it does not necessarily emphasize a long-term partnership or a reduced supplier base across multiple categories.

Multiple sourcing is a strategy where an organization engages several suppliers for the same products or services. This approach aims to mitigate risk and ensure supply continuity rather than focusing on reducing the supplier base to a few selected partners, which contradicts the essence of partnered sourcing.

Single sourcing involves selecting one supplier for a particular product or service, similar to sole sourcing, but it can apply to a broader range of items. While it may create a long-term relationship, it does not inherently involve reducing the supplier base to a few key partners across the board.