20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
.GLOBAL SOURCING.
Global sourcing is a business strategy adopted by companies to procure goods and services from
different countries to reduce costs, increase efficiency and access new markets.
Importance of global business in global sourcing
1. Increased competition
2. Advancements in technology
3. Globalization
Companies are sourcing raw materials, products and services from different countries to ;
• Reduce costs
• Access new markets
• Improve their supply chain efficiency.
Benefits of global sourcing
• Cost savings
• Increased market access
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
, 20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
• Improved quality
• Increased innovation
Advantages of global sourcing to companies
• Reduced production cost
• Increased profits
• Improved shareholder value
Challenges of global sourcing
• Language barriers
• Cultural differences
• Political instability
• Supply chain risks
Therefore, Global sourcing is a critical strategy for companies to remain competitive in the global
business landscape which with the right approach can help companies achieve significant success in
the global market place.
Global sourcing strategies
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
.GLOBAL SOURCING.
Global sourcing is a business strategy adopted by companies to procure goods and services from
different countries to reduce costs, increase efficiency and access new markets.
Importance of global business in global sourcing
1. Increased competition
2. Advancements in technology
3. Globalization
Companies are sourcing raw materials, products and services from different countries to ;
• Reduce costs
• Access new markets
• Improve their supply chain efficiency.
Benefits of global sourcing
• Cost savings
• Increased market access
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
, 20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
• Improved quality
• Increased innovation
Advantages of global sourcing to companies
• Reduced production cost
• Increased profits
• Improved shareholder value
Challenges of global sourcing
• Language barriers
• Cultural differences
• Political instability
• Supply chain risks
Therefore, Global sourcing is a critical strategy for companies to remain competitive in the global
business landscape which with the right approach can help companies achieve significant success in
the global market place.
Global sourcing strategies
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
20230619232057_6490e2d91f5a4_global__sourcing__in_international_purchasing.docx
