Sourcing: global or local?
14 August 2008 | Steve Bagshaw
By Delwyn Cummack
In this issue's Adviser, we answered a question from a reader in Egypt who wanted to find out more about global sourcing.
Our experts' advice for buyers considering global sourcing was to develop relationships with colleagues, gain the buy-in of key markets, and run a pilot on smaller, less-critical areas.
Do you have any advice for buyers looking at sourcing globally?
What should they consider before making this decision?
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I recently submitted an MSc thesis on Local vs Global sourcing. I would also advise buyers to fully understand INCOTERMS, customs & excise import/export duty regimes, foreign exchange regulations, legal frameworks in respective markets (in case of disputes), copyright/patent law and consider whole life-cycle costing before making a decision (as majority of the costs are below waterlevel on a ‘global’ iceberg).