International Sourcing

International sourcing refers to the practice of businesses obtaining goods, materials, or services from suppliers located in different countries. Companies do this to find better prices, higher quality, or specialized products that may not be available domestically. This process often involves considering factors such as shipping costs, tariffs, and local regulations. By sourcing internationally, businesses aim to improve their competitiveness and expand their market reach, while also managing risks associated with currency fluctuations and geopolitical conditions. In essence, it allows companies to tap into global resources to enhance their offerings.