How Sourcing Services are Benefitting Global Businesses

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Go Global on Procurement with Sourcing Services
By http//www.dragonsourcing.com/
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Introduction
Doing business has become tougher than ever
before because of increased number of
participants. Any business which was mainly
restricted within an economy earlier has grown
beyond national boundaries. Manufacturers and
marketers now look beyond their national
boundaries for more business. Another crucial
aspect demanding attention is costing of factor
inputs. In a global perspective costing is always
a key determinant in keeping end-user price
within reasonable limits. The most viable way of
cutting costs in through economization of
resources, which is facilitated by sourcing
services. Sourcing services include exploration
and procurement of raw materials, technology, and
skilled human resource.
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Sourcing Service Emerging Industry
Sourcing services have grown in prominence mostly
because of increased competition that has reached
global levels. Globalisation has opened up
opportunities for both producers and consumers.
If globalization on one hand has opened up
opportunities for buyers and sellers, it also has
heightened the competition among industrial
enterprises and business houses. In this
situation of heightened competition, cost plays a
pivotal role even to the extent of a market
determinant.Sourcing services have a significant
contribution in this costing process.
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Sourcing raw materials
Raw materials form the basic requirement for any
industrial setup. These could be agricultural
items, industrial commodities, animal products,
or mineral resources. These different product
categories could be further subdivided into
several classes for the convenience of procurers
and service providers. For example, agricultural
items could be in their raw or semi processed
state they could be forest produce such as
timber or cash crops such as cotton or jute. For
any industrial establishment or manufacturer it
is essential to identify sources of raw materials
that are not only superior in quality but also
affordable. This specialized task is best done by
sourcing companies.
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More on Raw Materials
Raw materials need not necessarily be in their
original state as a farm produce or metal ore.
There are several intermediary industrial
products that serve as raw ingredients for a
manufacturing plant. For instance cast iron is a
raw material for foundries and iron sheets for
fabricators. Both cast iron and iron sheets are
industrial items manufactured in iron and steel
plants. There are several such intermediary goods
that are used as raw materials in manufacturing
industries.
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Sourcing qualified manpower
Human resource is a primary production factor for
agricultural, industrial and commercial setups.
Of all factors of production this is supposedly
the most flexible and adaptable. Human beings are
able to adjust to varied surroundings and places.
They could perform under extreme environmental
conditions and of course under amiable
surroundings. Sourcing services for trained
manpower operate on a global basis assisting
commercial units in appropriate recruitments.  
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