2024

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Global Sourcing


Glossary

What is Global Sourcing?

Global sourcing stands is a procurement strategy where businesses acquire goods and services from international markets. This strategic approach aims to achieve cost savings by capitalizing on affordable raw materials and skilled labor available in low-cost countries. Beyond cost advantages, global sourcing empowers businesses to access advanced skills, cutting-edge technology, and additional resources that may be unavailable within their home country.

By strategically navigating international markets, businesses can harness cost efficiencies, diversify their supply chains, and gain access to specialized expertise. Explore the possibilities of global sourcing as a key driver for business growth and resilience in today's interconnected world.


Learn more about Ivalua's Strategic Sourcing Solutions.

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