Effects of Global Sourcing Practices on Operational Performance

Global sourcing is the best strategy for firms to reduce the costs of labor and gain access to modern technology and resources. The growth of technological advances has made it economically advantageous and feasible for firms to source from abroad. Global competition has forced companies to devise and go after international purchasing strategies that aim at reducing cost and optimizing quality. This has made international purchasing strategies to be of significance as a key competitive factor for companies seeking globalization. Global sourcing is a corporate strategy aimed at the worldwide use of resources and materials