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Sourcing refers to the process of identifying, selecting, evaluating, and obtaining products or merchandise from suitable suppliers for sale to customers. In retailing, sourcing is an important activity because the success of a retailer depends greatly on having the right products, in the right quantity, of the right quality, at the right price, and at the right time. It connects retailers with manufacturers, wholesalers, distributors, and other suppliers who provide the merchandise required by the retail business. The main purpose of sourcing is to ensure a continuous and reliable supply of products that can satisfy customer needs and preferences. A retailer cannot sell products unless they are available in the required quantity and quality. Therefore, sourcing involves searching for suitable suppliers and deciding from whom the retailer should purchase merchandise. The process may be carried out locally, nationally, or internationally, depending upon the nature and scale of the retail business. Sourcing begins with identifying the requirements of the retailer. The retailer studies customer demand, sales trends, seasonal changes, ________ ________ ___ _________ ______ _________ ____.
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