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Mitigating the Risks of Global Sourcing

The development of the economic globalization makes the global sourcing extend to all parts of the world, global procurement has certain advantages, but the inevitable risk also exists, during the global sourcing process, companies must face these risks, take active and effective to mitigating risks.

With the rapid development of economic globalization, the economic dependence among countries around the world has gradually strengthened. Global Sourcing Based on the search for suppliers worldwide has gradually extended to all parts of the world. The front end of the supply chain extends to low-cost countries and regions, which is conducive to obtaining satisfactory raw materials and products. Global procurement not only brings competitive advantages to enterprises but also increases the risks of enterprises.

This article discusses the global sourcing risks and the measures to minimize them, which can provide the reference for enterprises to implement global sourcing.

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Elsa Zhang Chunhao, DPSM
Elsa Zhang Chunhao, DPSM
Elsa Zhang Chunhao has substantive years of experiences in the professional field of procurement management, and specifically in the Machining and Contract Manufacturing sector. She is a member of Singapore Institute of Purchasing and Materials Management (SIPMM). Elsa holds a Bachelor Degree and completed the Diploma in Procurement and Supply Management (DPSM) course on March 2019 at SIPMM Institute.

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