Manage Manufacturers' Cost with Global Sourcing
Presented By: Dragon Sourcing
Introduction Procurement of materials, manpower, technology, capital and land, when done on an international scale, could be referred to as 'global sourcing'. Though this practice is nothing unique, it has assumed enormous proportions in this era of widespread worldwide trading.
Manpower Sourcing Resourcing of skilled workforce and qualified professionals from every part of the world is now a regular practice. While hiring people, affordability is a crucial aspect as it determines factor costs. Competition being tightened across markets, services and goods are sold on thin profit margins.
Raw Material Sourcing Global sourcing has enabled producers of commodities to procure raw materials either in intermediary or original state at lowest rates. As countries have opened up and a manufacturer has access to wider sources, there remains a higher chance of controlling costs.
Technology Sourcing This is one resource whose cost may vary from one country to another or among different manufacturing sectors in one nation. Technology used depends on the ultimate demand for your goods and services. Normally, procurement of these is done from technologically advanced countries
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