Important facts about global procurement

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Important Facts about Global Procurement
By http//www.dragonsourcing.com
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What is Global Procurement?
Global procurement is a procurement strategy in
which a business seeks to find the most cost
efficient location for manufacturing a
product. It is also the process of acquiring
goods, services and works from companies or
organizations.
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Principles

• Best value for money.
• Effective competition.
• Fairness, integrity and transparency.
• Supplier Incumbency

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Advantages

• Clear and transparent competition.
• Repeatability of negotiations.
• Automation and process optimization.
• Optimization of buying time.

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Risk Factor

• Supplier quality
• Supplier delivery concerns
• Language issues
• Increased transportation and logistics cost

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