Global Sourcing Procurement is a business strategy that involves sourcing goods and services from suppliers around the world in order to achieve the best value for money. This approach can help organizations to access a wider range of products and services, gain access to new markets, and take advantage of lower costs and more competitive pricing. Global Sourcing Procurement is an important part of a company’s supply chain management, as it allows organizations to reduce costs, improve quality, and increase their competitive advantage. The process of Global Sourcing Procurement involves identifying potential suppliers, negotiating terms and conditions, and monitoring the performance of suppliers. It also involves the use of technology to streamline the process, such as using e-procurement systems to manage the procurement process. By using Global Sourcing Procurement, organizations can ensure that they are able to access the best quality products and services at the most competitive prices.
