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HomeProcurementEight Essential Steps for an Effective Global Sourcing Strategy

Eight Essential Steps for an Effective Global Sourcing Strategy

Over the years, the increasingly global marketplace and upsurge in consumer awareness and demand have forced industry into a constant balancing act. At the same time, companies across the world strive to offer quality products and services to their clients to earn considerable amount of profits. The main objective of strategic sourcing including to save money, improving the acquisition process, manage supplier performance and minimizing risk.

global source

The following highlights 8 essential steps for developing an effective global sourcing strategy that will help companies to select and evaluate suppliers on costs, quality and services provided.

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Lau Chee Leng, DPSM
Lau Chee Leng has substantive years of procurement experience, specifically in the construction sector. She is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). She completed the Diploma in Procurement and Supply Management (DPSM) at SIPMM Institute in December 2017.

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