Executing A Global Sourcing Strategy

Develop a strategic plan to meet your global sourcing goals


136 student reviews

Competency: Advanced Global Buying
CEH's: 8


With all the talk about the global sourcing that many companies are doing, one may think that it is easy, right? That perception could not be further from the truth. Global sourcing may be one of the most complex activities you'll encounter as a purchasing professional.

There's no doubt about it – global sourcing is a challenge with many opportunities to fail. There are many complex processes that need to be done right. It's not enough to know what those processes are. You need to know how to perform those processes in order to be successful.

Despite the challenges of global sourcing, purchasing professionals do succeed at it. They succeed because they know specifically how to handle all of the situations involving coordinating logistics, dealing with customs, arranging payment, identifying countries for sourcing, finding suppliers, calculating landed cost, assessing risks, and implementing their global contracts. Our highly personal and interactive online course "Executing A Global Sourcing Strategy" will teach you how to take global sourcing from a concept to a successful reality!


You will learn:

  • a strategy for selecting products, countries, and potential suppliers for your first global sourcing initiative
  • How to make your work easier by working with logistics support organizations such as freight forwarders and customs brokers
  • The critical details you must know about ocean and air freight
  • How to determine global shipment quantities and frequencies
  • How to ensure smooth customs clearance
  • How the various duties, taxes, and fees affect total cost of ownership
  • 13 Incoterms and how to use them to properly allocate the costs and risks of global shipments
  • How you may be impacted by the large number of regulations affecting shipments to the United States
  • The advantages and disadvantages of the channels for your global sourcing effort, including international procurement offices, supplier's subsidiaries and representatives, third party IPO's, and direct ordering
  • The various global payment methods such as letters of credit, wire transfer, and supplier credit
  • 8 steps for evaluating prospective global suppliers and, ultimately, selecting the best one
  • Terrorism issues related to global supply chain management
  • How to use a landed cost model, which is provided with the course
  • How to integrate risk analysis techniques into your global sourcing strategy to evaluate the potential effect of exchange rate fluctuations, the need for unplanned expedited shipping, and more

NOTE: This class will be most effective if you also take it in conjunction with "Basics of Smart International Procurement," which covers the fundamentals of preparing to buy globally including understanding differences in culture, communications, laws, currencies, and more.



How this online course works

  • You can start this on-demand course any time after you enroll; there's no pre-scheduled start date!
  • You progress through the course at your own pace, accessing easy-to-understand reading material, exciting exercises, optional multimedia, quizzes, and even a fun mid-term game!
  • You will have access to a friendly, expert instructor for any questions you may have!
  • You will learn best practices and processes designed so that you can apply your new skills in the real world!


To learn more about how full-length online procurement courses
from the Next Level Purchasing Association work, click on the short video below.



What are others saying about this course?

Fundamentals of Purchasing "Executing a Global Sourcing Strategy is a useful course for any sourcing professional who interacts with suppliers outside of his/her own country. While it undoubtedly covers information which seasoned purchasers would have learned by experience, it also offers a fairly detailed examination of the impact of varying cultures in business interaction. Incoterms are aptly and simply explained, consideration is given to risks which are inherent in international procurement and the lessons offer useful information about supplier evaluation and contract monitoring as well. Some of the information is specific to regulations within the USA but as a national of Barbados I still found the course to be relevant and worthwhile."

Katharine Caddle, SPSM
Procurement Officer
Barbados



Ready to enroll?

 

Interested,
but have a few questions?

If you enroll in "Executing A Global Sourcing Strategy" on or before September 30, 2014, you will receive all of these bonuses:

  • Certificate of Completion! This purchasing certificate is sent to you by postal mail and is suitable for framing.
  • FREE printer-friendly, PDF version of the class material
  • FREE Purchasing Performance Measurement spreadsheet template
 
For immediate assistance, call our office at
+1 (412) 294-1990 and speak with a member of the NLPA Team, Monday through Friday from 8AM to 5PM Eastern US Time.

or


Click on the button below to submit your questions electronically and a member of the NLPA team will contact you within one business day.