GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Environmental factors
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Cost Efficiency
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Weak legal environment
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Risk of creating competitive
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Detailed explanation-1: -Cost-savings are one of the main advantages of global sourcing. Many foreign suppliers and manufacturers offer their services at a competitive price, especially in low-cost regions. Manufacturing costs are generally lower and businesses can often buy goods at a lower unit price.
Detailed explanation-2: -Global sourcing can be an effective way to reduce costs, access new markets and find new suppliers. But it also comes with challenges such as geopolitical instability, cultural differences, regulatory issues and currency fluctuations.
Detailed explanation-3: -The main advantage of global sourcing is the cost-saving aspect. International sourcing sees many foreign manufacturers offer their services at a very competitive price, especially in regions where typically products are made at a low-cost.
Detailed explanation-4: -Reduction in cost. Overseas suppliers often charge less money for their goods, so you’ll see an immediate reduction in spend. Innovative ideas. Capacity. Better quality. Less waste.