Homework: Materials Management- Procurement
Overview
Explain why global sourcing is imperative in remaining competitive in today's markets. The roles of buyers are now much more complex and require knowledge and skills beyond those of their predecessors.
Instructions
Prepare a 2 to 3 pages paper illustrating why global sourcing is now necessary to remain competitive.
The paper should explain key issues faced by organizations sourcing globally and how the role of procurement professionals has changed from the past. Risk management, supplier relationships, and enhanced technology should all be addressed with examples illustrating how they can positively or negatively affect success.
1. The paper should address the following questions:
a. Why is it important for purchasing professionals to take on a more expansive role within their organization?
b. Describe challenges which can disrupt supply chain and how can they be avoided.
c. What is the importance of a Procurement Teams vs. the traditional buyer?
d. Why is risk management, supplier relationships, and enhanced technolog critical to the success of global sourcing?
2. Research an article other than those listed describing a specific company's strategy for global sourcing and how global challenges are overcome. Make sure to use an article from your own research that has not already been shared in the course.
3. Write 2 to 3 pages paper highlighting questions above along with an article describing the successes of a particular organization's global sourcing policies.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.