ROLE OF GLOBAL SOURCING AND SUPPLY CHAIN MANAGEMENT IN INTERNATIONAL IMPORT AND EXPORT

1. ROLE OF GLOBAL SOURCING AND SUPPLY CHAIN MANAGEMENT IN INTERNATIONIMPORT AND EXPORT INTRODUCTION Global import and export refer to the buying and selling of goods and services between countries. It involves the movement of goods and services across international borders, and it is an essential part of the global economy. GLOBAL SOURCING AND SUPPLY CHAIN MANAGEMENT Global sourcing and supply chain management play critical roles in facilitating international import and export. They help companies to source raw materials, components, and finished products from all over the world at the best possible cost, quality, and lead time. IMPORTANCE OF CHINA SOURCING COMPANY Since China has a very crucial part in overall global import export business there is high demand of China sourcing company. If you are a global import export player then you must have a China sourcing company which has extensive experience of sourcing materials and finished products from China. China sourcing company would help you in buying products from China at a very competitive price. Without any efficient and experienced China sourcing company Buying products from China may not be that beneficial as you may not be able to negotiate and get competitive price of the products. HERE ARE SOME OF THE WAYS IN WHICH GLOBAL SOURCING AND SUPPLY CHAIN MANAGEMENT SUPPORT INTERNATIONAL IMPORT AND EXPORT: 1.IDENTIFYING THE BEST SUPPLIERS: Global sourcing allows companies to identify suppliers from all over the world who can provide high-quality products at competitive prices. This helps companies to reduce their costs and improve their margins. 2.MANAGING SUPPLY CHAIN RISK: Supply chain management helps companies to manage risk by ensuring that they have multiple suppliers in different countries. This reduces the risk of disruptions caused by natural disasters, political instability, or other events. 3.ENSURING COMPLIANCE: Global sourcing and supply chain management help companies to ensure compliance with local laws and regulations. This is particularly important for companies that operate in multiple countries with different legal and regulatory frameworks.

2. 4.OPTIMIZING LOGISTICS: Supply chain management helps companies to optimize logistics by selecting the most efficient and cost-effective transportation modes and routes. This reduces transportation costs and improves delivery times. 5.IMPROVING COLLABORATION: Global sourcing and supply chain management facilitate collaboration between suppliers, manufacturers, and distributors. This helps to streamline processes, reduce costs, and improve efficiency. In summary, global sourcing and supply chain management play a critical role in facilitating international import and export by helping companies to source raw materials, components, and finished products from all over the world at the best possible cost, quality, and lead time.