The term Global Sourcing describes a sourcing strategy that attempts to tap international sources in a copper market.
Brief description
The use of international resources plays a central role in Global Sourcing. With increasing globalization, it is becoming simpler, but also more important, not to be limited to suppliers from local markets, but to find more favorable bidders for a given product in the global market.
The benefits of such a sourcing strategy are found, for example, in the availability of resources and products that are not available in local markets. Besides, it is becoming increasingly simple to obtain extensive information about markets, suppliers or products.
Along with Global Sourcing also goes a greater amount of information, coordination as well as execution. It can also happen that additional costs (transportation, customs, factory outlay) offset the purchase price.
