GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Appropriate Strategies
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Skillful management
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Cost reduction
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Increased benefits
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Detailed explanation-1: -Global sourcing strategy generally refers to management of (1) logistics identifying which production units will serve which particular markets and how components will be supplied for production and (2) the interfaces among R&D, manufacturing, and marketing on a global basis.
Detailed explanation-2: -Potential disruptions to supply; internationally this can be caused by war, political instability, civil unrest, war, terrorism, changes to trade policy or even natural disaster. Transport risks; this can include loss, deterioration, damage or theft in transit, or weather/natural disasters disrupting transport.
Detailed explanation-3: -Manage product quality. Pay attention to the logistics. Mind your monetary risks. Watch out for cultural differences and language barriers. Be aware of laws and compliance. 12-Nov-2018
Detailed explanation-4: -1 | BUILD A TEAM. More and more companies are taking the team approach to making sourcing decisions. 2 | CONDUCT MARKET RESEARCH ON SUPPLIERS. 3 | STRATEGIC DEVELOPMENT. 4 | COMPETITIVE BIDDING PROCESS, NEGOTIATION AND CONTRACTS. 10-Jul-2018