what are the advantages and disadvantages of global sourcing?
150090
['Advantage: Cheap manpower. ... ', 'Advantage: Scalability. ... ', 'Advantage: Access to raw materials. ... ', 'Advantage: Access to distinctive skills. ... ', 'Advantage: Increase in productivity. ... ', 'Disadvantage: Quality problems.']
963731
['Globalization may encourage more offshoring instead of less. ... ', 'Globalization benefits the wealthy more than the poor. ... ', 'Globalization would encourage disease transfer. ... ', 'Globalization could reduce social safety net programs. ... ', 'Globalization would create a new system of politics.']
897293
["Quality levels and defects. Manufacturing processes aren't perfect, so the industry typically accepts a certain quality level for products. ... ", 'Time zones. ... ', 'Long-range logistics. ... ', 'Accountability and compliance. ... ', 'Delays. ... ', 'Language barriers.']
909112
Global sourcing reduces the production cost and operations greatly since the amount paid on overheads is decreased these. When cost of production reduces the company financial position greatly increases and the retained money can be used for other developments. Sourcing for employer is at a lower labor cost.
461817
['Overdependence on suppliers.', 'Lack of supplier flexibility.', 'Communication with suppliers.', 'Coordinating different suppliers.', 'Lack of management skills to control suppliers.', 'Quality of service at suppliers.', 'Shallow expertise at suppliers.', 'Poor staff training at suppliers.']
888051
['Better collaboration. ... ', 'Improved quality control. ... ', 'Higher efficiency rate. ... ', 'Keeping up with demand. ... ', 'Shipping optimization. ... ', 'Reduced overhead costs. ... ', 'Improved risk mitigation. ... ', 'Improved cash flow.']
214297
['Specialization of Resource Allocation. ... ', 'Manufacturing Growth. ... ', 'Economic Dependence of Underdeveloped Countries. ... ', 'Competitive Pricing Leads to Stabilization. ... ', 'Distribution and Telecommunications Innovation. ... ', 'Extending Product Life Cycles. ... ', 'Import of Harmful Products and Unfair Trade Practices.']
948535
Answer. Globalization creates greater opportunities for firms in less industrialized countries to tap into more and larger markets around the world. Thus, businesses located in developing countries have more access to capital flows, technology, human capital, cheaper imports, and larger export markets.
691633
['Advantage: Fast Client Communication. ... ', 'Advantage: Availability and Portability. ... ', 'Advantage: Reduces Shipping and Mailing Costs. ... ', 'Disadvantage: Vulnerability to Loss. ... ', 'Disadvantage: Accessible to Others.']
1008832
['availability of world-class technology that exists in certain markets.', 'access to cutting-edge research, design or specialised knowledge.', 'proximity to raw materials that may be unavailable domestically.', 'manufacturing capabilities that may unavailable domestically.', 'higher quality goods compared to domestic products.']
835722
The difference is that Global Sourcing refers to acquiring raw materials, intermediate products, or even finished products wherever in the world makes the most business sense for your operation. ... Outsourcing refers to acquiring services anywhere in the world that, again, make the most business sense for your operation.
426596
Benefits — guaranteed availability, better understanding of corporate culture and business. Disadvantages — high costs, time needed for recruitment, onboarding and getting to know the team.
172172
['Security Concerns: The core concern of outsourcing ethics is confidential information security. ... ', 'Fall in Service Quality: There is concern that services delivered from half-way across the globe might not meet quality expectations.']
77792
An advantage is that American workers can be paid higher wages for the work they do which is also more specialized. A disadvantage of that at the same time is that they get less jobs in the end as its cheaper to employ workers overseas in China.
1197032
Advantages of using wholly owned subsidiaries include vertical integration of supply chains, diversification, risk management, and favorable tax treatment abroad. Disadvantages include the possibility of multiple taxation, lack of business focus, and conflicting interest between subsidiaries and the parent company.
949554
['Reduced costs. ... ', 'Increased efficiency. ... ', 'Minimises price volatility. ... ', 'Consolidation of the supply chain. ... ', 'Outsourcing certain activities. ... ', 'Continual improvement of operations.']
203039
['Improved transport, making global travel easier. ... ', 'Containerisation. ... ', 'Improved technology which makes it easier to communicate and share information around the world. ... ', 'Growth of multinational companies with a global presence in many different economies.']