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 built with some expert manufacturers
Supplier Market Assessment
Key supplier market must be understood. We also must have idea about the current trends. Risks must also be analyzed.
Prepare a Supplier Survey
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. It also helps you to know whether your project is feasible or not.
Building the Strategy
This step is required to develop the sourcing strategy. It is also very much required to develop the sourcing strategy. This helps to make proper sourcing.