Reference process for global sourcing

Global sourcing is gaining more and more importance. For European companies, Asian procurement markets and especially China are becoming first choice destinations regarding procurement and manufacturing. Global sourcing, however often poses a lot of challenges and risks for the buying company due to very strategic implications of procurement from suppliers located worldwide. Therefore, the traditional strategic procurement process focusing on local or regional markets has to be adapted to cope with those challenges. In this paper, we present an enhanced reference process for global sourcing including important strategic aspects related to global sourcing.