Supply disruptions have underscored the critical need for robust sourcing strategies that mitigate risks while maintaining efficiency. This research introduces and validates the concept of Hedged Sourcing, combining Traditional Manufacturing (TM) and Additive Manufacturing (AM) to mitigate supply risks. Using a mixed-methods approach, including a Delphi study, simulations, real-world case analyses and action research, the research explores the impact of AM on supply risk profiles and evaluates the advantages of the sourcing configurations TM and AM. Key findings of the doctor thesis reveal that AM significantly alters supply risk profiles, whereas integrating supply sources TM with AM significantly reduces supply risks by leveraging the flexibility of AM and the cost-efficiency of TM. The developed portfolio model demonstrates the advantages of dual sourcing strategies under varying demand and risk scenarios, validated through simulation studies. The proposed management model offers a practical framework for procurement managers to integrate AM and TM effectively, addressing both strategic and operational challenges. This research contributes to supply risk management literature by addressing gaps in the combined use of TM and AM and offering actionable recommendations for practitioners. The study’s findings are particularly relevant in the context of increasing supply disruptions in addition to an increased need for sourcing efficiency, highlighting the potential of AM to complement traditional sourcing methods. Limitations and future research directions include the need for broader empirical validation and exploration of AM’s application in diverse industries and materials.