In business, the term word sourcing refers to a number of procurement practices, aimed at finding, evaluating and engaging suppliers for acquiring goods and services 1  : Outsourcing, the process of contracting a business function to someone else. Tradegood sourcing, a process of finding the right suppliers who have gone through the unique Tradegood Business done right verification process, as a leading in quality and safety company. 2  Sourcing (personnel) , the practice of recruiting talent using strategic search techniques.