In first world countries, credit ratings are transparent, allowing enterprises access to overdrafts, extended credit limits and payment terms or various forms of finance from financial institutions. In developing countries, this is not necessarily the case.
In small or large international organisations, it is important to define a single contact window which is responsible for Supplier Management.
Sourcing from Asian suppliers generally leads to various ways to incentivise the sale which some believe is a regular part of business, but others may say fraud. Greasing palms to garnish a business deal is an age-old affair globally, is it ethical no, but it happens regularly
Sourcing and on boarding new suppliers is a process that needs to be systematic to ensure all requirements exist to be able to deliver all key business deliverables and future business success.
Why doesn’t this Chinese supplier listen to what I said or follow the instruction sheet?
Strategic sourcing is the continual improvement and re-evaluation of your vendor matrix. The vendor matrix defines a group of vendors capable of meeting business procurement objectives across category spend, capacity, quality, and sustainability.