Global Sourcing
Global Sourcing
Global Sourcing
• Material costs
• Transportation costs
• Inventory carrying costs
• Cross-border taxes, tariffs, and duty costs
• Supply and operational performance
• Supply and operational risks
Global Sourcing help in reducing product overhead cost and also helpful in
cover large market area in all over the world. You can sell your product or
services globally. At the same time it's not so easy to do business globally. It's
required a great management skill to manage the business globally.
Multisourcing
Multisourcing is the disciplined provisioning and blending of business and IT services from the
optimal set of internal and external providers in the pursuit of business goals.[1] It is also defined
as a strategy that treats a given function, such as IT, as a portfolio of activities, some of which
should be outsourced and others of which should be performed by internal staff.[2]
Although the term may apply to any business area, it is most commonly used within the context
of Information Technology
Vendor development
Vendor development :
Vendor development
2. Pay attention to timing. Timing is important in any negotiation. Sure, you must
know what to ask for. But be sensitive to when you ask for it. There are times to
press ahead, and times to wait. When you are looking your best is the time to
press for what you want. But beware of pushing too hard and poisoning any long-
term relationship.
3. Leave behind your ego. The best negotiators either don’t care or
don’t show they care about who gets credit for a successful deal. Their talent is in
making the other side feel like the final agreement was all their idea.
4. Ramp up your listening skills. The best negotiators are often quiet listeners
who patiently let others have the floor while they make their case. They never
interrupt. Encourage the other side to talk first. That helps set up one of
negotiation’s oldest maxims: Whoever mentions numbers first, loses. While that’s
not always true, it’s generally better to sit tight and let the other side go first. Even
if they don’t mention numbers, it gives you a chance to ask what they are
thinking.
5. If you don’t ask, you don’t get. Another tenet of negotiating is “Go high, or go
home.” As part of your preparation, define your highest justifiable price. As long
as you can argue convincingly, don’t be afraid to aim high. But no ultimatums,
please. Take-it-or-leave-it offers are usually out of place.
6. Anticipate compromise. You should expect to make concessions and plan what
they might be. Of course, the other side is thinking the same, so never take their
first offer. Even if it’s better than you’d hoped for, practice your best look of
disappointment and politely decline. You never know what else you can get.
7. Offer and expect commitment. The glue that keeps deals from unraveling is an
unshakable commitment to deliver. You should offer this comfort level to others.
Likewise, avoid deals where the other side does not demonstrate commitment.
8. Don’t absorb their problems. In most negotiations, you will hear all of the other
side’s problems and reasons they can’t give you what you want. They want their
problems to become yours, but don’t let them. Instead, deal with each as they
come up and try to solve them. If their “budget” is too low, for example, maybe
there are other places that money could come from.
9. Stick to your principles. As an individual and a business owner, you likely have
a set of guiding principles — values that you just won’t compromise. If you find
negotiations crossing those boundaries, it might be a deal you can live without.
10. Close with confirmation. At the close of any meeting — even if no final deal is
struck — recap the points covered and any areas of agreement. Make sure
everyone confirms. Follow-up with appropriate letters or emails. Do not leave
behind loose ends.