GENERAL KNOWLEDGE

GK

BUSINESS MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Global sourcing of inputs looks at the selection and/or use of suppliers from an oversees location. Which of the following is NOT an advantage offered through global sourcing?

A	Opportunity to take advantage of global efficiencies
B	Skills and resources that cant be found in the home nation
C	Loss of Australian Jobs
D	Job and economic opportunities provided to economically disadvantaged areas

Explanation:

Detailed explanation-1: -Global sourcing is a procurement strategy in which a business buys goods and services from international markets across geopolitical boundaries to save money by using cheap raw materials or skilled labor from low-cost countries.

Detailed explanation-2: -Levels of Global Sourcing Level 1: Domestic purchases only. Level 2: International purchases made on an as-needed basis. Level 3: Sourcing strategy that includes global purchasing. Level 4: Centrally-coordinated purchasing across global locations.

Detailed explanation-3: -Challenges of Global Sourcing The common obstacles include political and economic instability, language and cultural differences, legal and regulatory issues and currency fluctuations.

Detailed explanation-4: -Better Value For Money. A Greater Production Capacity. High-Quality Products. Opportunities To Adopt New Products Before Rival Companies. The Chance To Tap Into New Resources And Skills.

There is 1 question to complete.