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Worldwide Sourcing: Assessment and Execution
Author(s) -
Monczka Robert M.,
Trent Robert J.
Publication year - 1992
Publication title -
international journal of purchasing and materials management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.75
H-Index - 92
eISSN - 1745-493X
pISSN - 1055-6001
DOI - 10.1111/j.1745-493x.1992.tb00576.x
Subject(s) - strategic sourcing , business , purchasing , competitive advantage , competitor analysis , industrial organization , strategic management , globalization , marketing , process management , strategic planning , economics , strategic financial management , market economy
There is a need to develop an understanding of functional globalization requirements in purchasing, at both the firm and industry levels. Since this issue has not been addressed, functional purchasing executives may be wondering what the appropriate worldwide sourcing strategy should be for their firm. This article presents a framework that can be used to help identify the worldwide sourcing strategy that best supports a firm's competitive requirements. It recognizes that not all industries require the same level of worldwide sourcing for a firm to be a leading edge competitor. This framework guides managers through an evaluation of the factors that impact a firm's worldwide sourcing strategy development as well as the requirements to pursue an appropriate sourcing strategy. If executive management can identify the strategy response necessary to meet the competitive challenges of the 1990s, it can develop the structure and the systems to support that strategy. This provides a major contribution toward the attainment of a firm's strategic performance objectives.