Sourcing advisory is the use of third-party (external entity) advise during the sourcing process. As such, it may refer to advise sought during outsourcing

Outsourcing

Outsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...

, offshoring

Offshoring

Offshoring describes the relocation by a company of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Even state governments employ offshoring...

 or global sourcing

Global sourcing

Global sourcing is a term used to describe practice of sourcing from the global market for goods and services across geopolitical boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service...

. Advisors can be independent consultants or management consulting firms.

Sourcing advisors

Given the strategic nature of the advisory and the prevalence of sourcing

Sourcing

In business, the term word sourcing refers to a number of procurement practices, aimed at finding, evaluating and engaging suppliers of goods and services:*Global sourcing, a procurement strategy aimed at exploiting global efficiencies in production...

 amongst global organizations, most management consulting

Management consulting

Management consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing organizational problems and development of plans for improvement....

 firms today offer sourcing advisory services. In addition, there exist a host of specialized Sourcing Advisory Firms that focus on providing sourcing advisory and research inputs to the industry.

Services

The range of services provided by sourcing advisory firms include

• Helping buyers identify functions to be outsourced or offshored
• Helping buyers identify and evaluate capable suppliers
• Advising buyers through stages of the outsourcing
  Outsourcing
  Outsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...
  
   transaction
• Helping buyers manage established outsourcing
  Outsourcing
  Outsourcing is the process of contracting a business function to someone else.-Overview:The term outsourcing is used inconsistently but usually involves the contracting out of a business function - commonly one previously performed in-house - to an external provider...
  
   relationships (in issues such as governance
  Governance
  Governance is the act of governing. It relates to decisions that define expectations, grant power, or verify performance. It consists of either a separate process or part of management or leadership processes...
  
   and change management
  Change management
  Change management is a structured approach to shifting/transitioning individuals, teams, and organizations from a current state to a desired future state. It is an organizational process aimed at helping employees to accept and embrace changes in their current business environment....
  
  )
• Helping buyers re-negotiate or renew transactions
• Research relevant to the sourcing industry