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Globalsourcing, overseas buying, international trading? Globalsourcing usually attracts procurement professionals and other industry workers due to the perceived saving of money. Globalsourcing more often than not delivers a price saving – but at what cost?
Niul Burton wrote a great article in Industry Week titled “Procurement 2025: 10 Challenges that Will Transform GlobalSourcing”. For those of you who are executives in SupplyChain, Procurement or New Product Introduction/Development, this is a must read. Globalization. Integration. Today this rarely exists.
At the same time, organizations have never been more exposed to risk from their supplychains, from supply continuity, quality, or ESG violations. To top it all off, extremely tight supply markets have further shifted negotiating leverage from buyers to suppliers. Yet, too few businesses do so well.
Survey results in a new study by Forrester , commissioned by Ivalua, reveal several important lessons for procurement leaders to keep in mind as they adapt their departments for success. Disruptions, ethical and compliance risks are more likely to occur deep in your supplychain. Second, map your sub-tier.
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