In the case of local sourcing, a conscious attempt is made to find sourcing points in the geographically closest vicinity of the company.
Brief description
Unlike global sourcing, in the case of local sourcing, or domestic sourcing, the idea is that products and services are drawn from the company's local market. The advantages of such a sourcing strategy lie in better transparency in the procurement process, lower transportation costs and overall risk reduction. Opposite to this are usually higher prices than in international markets as well as often limited production resources.
