Important facts about global procurement

Important Facts about Global Procurement

By http://www.dragonsourcing.com

What is Global Procurement?

Global procurement is a procurement strategy in which a business seeks to find the most cost efficient location for manufacturing a product.

It is also the process of acquiring goods, services and works from companies or organizations.

Principles

Best value for money.

Effective competition.

Fairness, integrity and transparency.

Supplier Incumbency

Clear and transparent competition.

Repeatability of negotiations.

Automation and process optimization.

Optimization of buying time.

Advantages

Risk Factor

Supplier quality

Supplier delivery concerns

Language issues

Increased transportation and logistics cost

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