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Global Sourcing
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Global sourcing refers to the practice of sourcinggoods and services from the global market across geopolitical borders. This is a procurement strategy with the intention of increasing cost efficiency in production and manufacturing. However, as overseas wages and fuel prices increase, the less effective a Global sourcing strategy becomes. The strategic value is further compounded by the higher risk of overseas transport, with increased possibilities of supply chain disruption and lack of control of external suppliers

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