Global Sourcing Strategy

Global sourcing strategy is a business approach where companies seek to find the best suppliers and resources from around the world to enhance efficiency and competitiveness. Instead of relying solely on local sources, businesses look beyond borders to access products, materials, or services that are of higher quality, lower cost, or unique characteristics. This strategy allows companies to reduce expenses, improve quality, and adapt to different market needs, ultimately contributing to better profitability and market presence on a global scale.