Stages of Global Sourcing

By http://www.dragonsourcing.com/

What is global sourcing ?

● Global sourcing helps to get more profit.

● Good quality low cost products can be sourced globally.

● Also the cost of the labor is very low.

● It is very important to know the various sourcing countries.

Stages of Global Sourcing

Global sourcing is very important in business.Sometimes it is not possible for the companies to manage all the activities. Then they outsource some process. It is very required to know the stages of outsourcing.

✔ Investigation✔ Evaluation✔ Supplier Selection

Investigation

➢ In this stage the organization identify the core and non core activities.

➢ Analyzation of market must be done.

➢ Customer requirements must be checked.

➢ Work plan must be documented.

Evaluation

✔ Supplier selection criteria is developed in this stage.

✔ The sourcing strategy is refined.

✔ Cost models are also finalized.

✔ The economic benefit of the project are then estimated.

Supplier Selection

In this stage final suppliers are selected.

Then the negotiation is done with the selected suppliers.

Technical assessment of the selected suppliers is done.

Timeline of the selected supplier is then developed.

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