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What makes a successful global sourcing strategy?

Short response on what makes a successful global sourcing strategy.

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Solution Summary

The expert determines what makes a successful global sourcing strategy.

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There are many components that need to go into the creation of a successful global sourcing strategy. One of the first things to consider is the cost benefit. A company needs to determine if there will be cost benefits from lower labor costs in markets that are international versus domestic. Other major cost factors to consider are the fees, charges and occasional bribes that occur in international markets, such as bank or broker fees, international taxes, insurance and freight charges. Another factor to consider ...

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