Strategic sourcing is essential for businesses looking to optimize their procurement process. By following this 4-step strategic sourcing process, organizations can make informed purchasing decisions that align with their goals and budget. Let us explore this process in detail. Identify and Analyze Opportunities Understanding your needs and identifying opportunities for...
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Sourcing products from China is a common practice among businesses looking to reduce costs and increase profit margins. However, there are several potential pitfalls that can turn this lucrative opportunity into a costly mistake. Below are some common mistakes that US companies should be aware of as well as the...
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Many burgeoning entrepreneurs wonder why so many companies prefer outsourcing their manufacturing to China. While inexpensive pricing is a major benefit, it’s not the only reason people choose to outsource manufacturing overseas. All companies are in search of affordable production costs and several countries in Asia are able to provide...
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