Sole Source Procurement
Definition - What does Sole Source Procurement mean?
Sole source procurement is the process of procuring IT solutions and services from a sole and specialized vendor. It is the non-competitive selection of a sole vendor for an IT product or service.
Sole source procurement is also known as sole sourcing or direct sourcing.
Techopedia explains Sole Source Procurement
Sole source procurement is the purchase of an IT solution from the only existing solution vendor. Typically, the sole vendor or sole source is the manufacturer or developer of the purchased solution. Single sole procurement helps a sourcing organization directly buy and deploy a solution from the sole vendor, eliminating third-party vendors, integrators or distributors.
The procurement process does not require pre-bidding or pre-selection, as the vendor is the sole source of that product/service. Moreover, the maintenance, upgrade and after sales support of the product/service is managed by the sole vendor/source.