SEVEN REASONS TO CONSIDER GLOBAL SOURCING AS A STRATEGY

 

Global sourcing affords businesses the opportunity to access resources in other countries outside of their domicile place of trading. This can be a resultant effect of a shortage of raw materials and other resources or lower prices and even of a better or different standard than is readily available to them locally. After all, different countries of the world run under different economies, cost structures and quality of product and services. It can be of great advantage for a business to take advantage of all the resources it can access without being limited by distance.


These are seven reasons to consider global sourcing as a viable strategy:


Gaining an edge over local competition: Monopoly is a business killer. Over time, businesses are often crippled by the complacency of local suppliers who have monopolized the market and become local gods holding businesses to ransom even with their inept inadequacies. Global sourcing or even the threat of it can straighten them up and ensure maximum productivity.


Increasing supply and production capacity: There is also the possibility of shortage of raw materials and resources. This should not be reasons for grinding manufacturing or production to a halt. Finding alternative sources of supply outside of your domiciled country is a plausible solution for ensuring continuity and reducing the risk of loss.

 

Access to cheaper labour: Global outsourcing is not limited to raw materials but can be considered for labour and personnel. Companies have been known to outsource their customer service departments and software developing to other countries where wages are lower.

 

For instance, a manufacturing company that already sources its raw materials from a particular country can also outsource the first level of processing those materials to reduce production time. Manufacturers with labour- intensive processes can also engage in global outsourcing to reduce their labour expenditure.


Unlimited supply of raw materials: Global outsourcing can also reduce the risk of shortage of raw materials. Countries that sell on a larger scale tend to sell at lower prices even after including the cost of transportation and applicable duties.


Global reciprocal trading: Global sourcing can be a two way street involving both a buying and selling company. An example is where a company is able to engage in a transaction where it uses proceeds from a sale to a particular country to buy its own needs from them. It could even result in a trade by barter kind of transaction.


Knowledge of the global market: Buying from another country is a sure easy way to learn the rudiments of their trading pattern. It then becomes easier to buy and engage in other businesses with that country.

 

How are you to raise the standards of operation of your company to an international standard if all you know is what operates in your locality? Expansion: A global brand can easily make use of its subsidiaries to source for its varying needs.


 

THE IMPORTANCE OF GADGETS IN OUR LIFE

Gadgets make our life easy. It is hard to think of life without the existence of them. They are electronical devices that simplify our daily human functions. Right from waking up till we sleep we rely on gadgets.

The alarm clock that tells you it’s time to wake up.

The kettle that boils your tea or coffee and the toaster that gets your bread ready.

The microwave that cooks your meals.

The dish washer and the washing machine that makes it easy to do our laundry and dishes.

The television, music player and too many others to count, we have gadgets all around us.

Here are some reasons why they are so important to us:

 


As technology evolves, our gadgets become more improved and most of the time they become smaller and save space. The TV sets have come a long way from the days of big box sets taking all the space in the living room. The telephone has gone from being a big home telephone to tiny handy mobiles. People not fit in their gadgets into walls where they are sometimes not visible to a stranger.


Gadgets make our lives interesting. Introverts no longer feel alone with the introduction of iPods, iPads, video games and even the TV. Every form of entertainment can be accessed with our gadgets and what’s more, we can move around with them.

Gadgets increase human productivity in terms of work and relationships. The advent of telephone and e-mails has made correspondence so much more seamless. The old ways of stamping and sending letters and waiting for days and even months to get feedback was time sapping. Transactions and work meetings are now concluded via emails. Job interviews can now be conducted via skype. Employing expatriates is now hassle free. Even long distance relationships now have a chance at surviving with telephone communications, social media and video calling.

People no longer have to be depressed or feel alone on special occasions when they are not with their family. Gadgets bring incredible joy.

Fathers can now witness the birth of their children miles away simply by connecting online with gadgets.

Family reunions, parties and conversations are done using gadgets. It has brought us a sense of unity. With gadgets, many devices now perform multi functions.

A small pocket knife can double as a bottle opener, nail cutter and a tweezer. Things are getting more handy and compact. Gadgets have made it easier to give gifts. We have choices.

You only need to decide whether you want to get a home gadget, a mobile gadget or a nerdy one.

There are hardly any gifts that are not in form of gadgets anymore. Gadgets save our time, money and space. With them, you can have it all.

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