Global Sourcing is a procurement strategy used by businesses wherein goods and services are sourced from the global market to obtain the highest levels of efficiency possible. The goal of Global Sourcing is to lower production costs while maintaining the exacting quality standards required for products and services. Another key consideration is to confirm that the value pricing, quality, and deliverability is sustainable for the long-term.
Global Sourcing and Procurement can account for more than 50 percent of total cost of manufacturing in most industries. Therefore procurement organizations are playing a more strategic role than ever before, helping companies achieve and sustain a competitive advantage by keeping costs low, providing goods and services efficiently and effectively, and drawing on the innovation and quality insights of suppliers.
Global sourcing involves more than just searching for products globally. It is also an effort to improve certain aspects of manufacturing, such as:
- Supplier selection and performance
- Speed to market
- Estimation of product costs
- Trade compliance
We work closely with our clients to deliver and sustain those cost improvements, improve cross-functional collaboration, develop new capabilities and more streamlined processes, and build stronger, more productive supplier relationships. By drawing on our global network of procurement experts in countries and offices around the globe