Purchasing, or procurement, is the process by which companies acquire components, products, services, or other resources from suppliers to execute their operations. The entire set of business processes required to purchase goods and services is called sourcing. Imagine that you are a manager of a furniture company in Bahrain. . Your company has decided to design and sell a new series of products of furniture. The production of the furniture will be outsourced to third parties. As a manager, you need to ensure that the sourcing strategies that your company uses will be able to help it achieve its supply chain efficiency and responsiveness goals. Use the key sourcing processes to demonstrate the strategies you can implement to source for suitable suppliers needed to produce the furniture. Explain factors that you must consider when making sourcing decisions. State the benefits of effective sourcing decisions to your company