... services, and equipment5. Conversion, the transformation of materials into economic goods and services 6. Distribution, the marketing and selling of goods and services produced1-5Evolution of Purchasing ... Sourcing1-7Strategic Sourcing•Strategic sourcing is understanding the markets you're purchasing from inside and out…• and learning from your own organization and your suppliers' organizational processes,…•…working ... suppliers, manufacturers, warehouses, and stores,…•…so that merchandise is produced and distributed at the right quantities, to the right locations, and at the right time,…•…in order to...