Global Sourcing Strategies

Global Sourcing Strategies

What is Global Sourcing ? ✔

Global sourcing is widely practiced

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It helps to gain more profit in the business.

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Also the cost of the product is very low.

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The manufacturers are also highly skilled.

They have the capability to manufacture any kind of product. ✔

Global Sourcing Strategies Global sourcing brings more profit in the business. It also helps to extend your business. The sourcing agent of the global sourcing countries helps you to identify the proper global sourcing countries. But one needs to follow some global sourcing policies.

E-Bidding. ✔ ERP ✔ E- Sourcing ✔

E-Bidding ✔

E-Bidding is a global sourcing strategy

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It is a great way to bit down pricing.

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Quality is also assured in E-Bidding.

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Bidding is an effective sourcing strategy.

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Successful bidding requires marketing knowledge.

ERP ✔

ERP ensures better supply chain management.

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Previously ERP was used by large organizations.

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Now it also used by small and medium sized organizations.

Many companies also used cloud based software to mange their global sourcing. ✔

E-Sourcing ✔

E-sourcing of suppliers is another emerging trend.

Here the identification,qualification and consideration of international suppliers and logistics is done through the internet. ✔

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E-sourcing is much better than offline sourcing.

E-sourcing is more popular as suppliers reputation is at stake. ✔

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