Global sourcing and its Steps

Stages of Global Sourcing By

http://www.dragonsourcing.com/

What is Global Sourcing ?

Global sourcing helps to get product at cheap rate. ✔

The cost of the labor is also very low in global sourcing countries. ✔

This type of sourcing also helps to get more profit in the business. ✔

Good relationship is also built with some expert manufacturers. ✔

Stages of Global sourcing

Global sourcing has various advantages. It is very much required to know various types of sourcing countries. Different types of country has different types of business culture. Also the global sourcing has many stages. The stages are as mentioned below : Supplier Market Assessment. ✔ Prepare a supplier survey. ✔ Building the strategy ✔

Supplier Market Assessment

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Key supplier market must be understood.

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Also must have idea about the current trends,

'Should-cost information must be prepared from the major components of key products. ✔

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Risks must also be analyzed.

Prepare a Supplier Survey

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Next a supplier survey must be developed.

The survey is done in order to take a view of the capability and capacity of the market to meet your requirements. ✔

The survey also help t help the judge the supplier capabilities. ✔

It also helps you to know whether your project bis feasible or not. ✔

Building the Strategy

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This step is required to develop the sourcing strategy.

It is very much required to develop the sourcing strategy. ✔

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This help to make proper sourcing.

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