Single source or sole source? The two terms sound almost identical, but they carry very different risk. Confuse them, and you will completely misjudge how exposed your supply really is. This short video makes the difference clear.
In three minutes, you will learn:
- The one question that separates the two: do other capable suppliers exist?
- What single source means: one supplier by choice, when alternatives are available
- What sole source means: one supplier by necessity, when no one else can supply you
- Why a company might deliberately choose a single source, and what it gains
- Why sole source is the bigger risk, and how to manage a supplier you cannot replace
The takeaway: single source is a choice; sole source is a risk. Single source concentrates your volume with one supplier on purpose, to win a better price, closer partnership and more consistent quality. Sole source means there is no alternative, so any problem at that supplier instantly becomes your problem, with no fallback, which is exactly why it needs active risk management.
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