Global sourcing is a challenge with many opportunities to fail. Despite those challenges, procurement professionals succeed because they know how to handle all of the situations involving coordinating logistics, dealing with customs, arranging payment, identifying countries for sourcing, finding suppliers, calculating landed cost, assessing risks, and implementing their global contracts. Executing A Global Sourcing Strategy will teach you how to take global sourcing from a concept to a successful reality. Upon completing this course, you will be able to:
- Apply strategy for selecting products, countries, and potential suppliers for your first global sourcing initiative
- Determine global shipment quantities and frequencies
- Ensure smooth customs clearance
- Understand how the various duties, taxes, and fees affect total cost of ownership
- Apply 13 Incoterms to properly allocate the costs and risks of global shipments
- Understand how you may be impacted by the large number of regulations affecting shipments to the United States
- Understand the advantages and disadvantages of the channels for your global sourcing effort, including international procurement offices, supplier’s subsidiaries, and representatives, third-party IPOs, and direct ordering
- Understand the various global payment methods such as letters of credit, wire transfer, and supplier credit
- Apply eight steps for evaluating prospective global suppliers
- Understand terrorism issues related to global supply chain management
- Apply a landed cost model and integrate risk analysis techniques into your global sourcing strategy
This course is most effective if taken in conjunction with Basics of Smart International Procurement, which covers the fundamentals of preparing to buy globally including understanding differences in culture, communications, laws, currencies, and more.
This is a self-paced course with no instructor-led forum and you have 60 days from registration to complete all course elements. It should take you approximately 8 hours to review the material and take any quizzes. All readings are provided in the course.
This course has been pre-approved for 8 CEHs.