The DhK in Blog Form

I started this post with the title and a basic idea of what I might write a bit about. Then did a quick google of "sourcing for business" (without the quotes). I found this page on the RBC Financial Group site. I think it's worth reading their short page, especially because of the 5 notes at the bottom, but if you don't, consider their intro:

* Purchases of outside goods and services can consume as much as 60% or more of a business' revenues.
* Just 50% to as little as 15% of these expenses are closely managed in many companies.
* A mere 10% reduction in outside purchasing can increase profitability from 20%-60%.

As I'm looking to expand and create new product offerings, sourcing (ingredients, packaging, knowledge, expertise) is becoming a core part of what I do. I'm definitely getting better at it. There are clues finding what you need everywhere. Some are hidden (but I ask a lot of questions) and some are slightly hidden (for example, industry words that, as a beginner, you might not be familiar with but can discover during the search and q & a process). One method that has helped me source has been approaching problems with this mindset: someone, somewhere knows what I need to know or has what I need to have.