Global Sourcing and Procurement Outlook

In the wake of the COVID-19 pandemic, the global sourcing landscape has undergone several transformative shifts. Businesses heavily reliant on suppliers in China experienced unexpected supply chain disruptions and, in several cases, impacted global business continuity—forcing some to temporarily halt operations and others to shutter permanently due to the absence of alternative suppliers.

As we step into the third decade of the new millennium, the concept of Global Sourcing will evolve and expand even further. Global companies, from smaller family-owned enterprises to multinational corporations, recognize the importance of diversifying their sources for raw materials, components, and finished products. This shift marks a significant challenge to traditional foreign sourcing options, notably China, which faces unknown territory for the first time in its 40-year history as the fastest and most expansively growing foreign source of manufactured goods.

This white paper covers the evolution of the global sourcing landscape and international procurement strategies and markets, and serves as a valuable resource for organizations seeking insights and best practices, helping them navigate the complexities of an ever-evolving global marketplace.

Strategic Sourcing Practices and Procurement Strategies

Global sourcing and procurement have become indispensable parts of modern business operations, allowing organizations to further assess their competitiveness and outlook, and bolster their profitability. The scope of this white paper encompasses a broad range of topics related to global sourcing and procurement, with specific emphasis on North America (NA) and the Asia-Pacific (APAC) regions:

Looking ahead, the future of global supply chains and international procurement strategies hinges on technological advancements, sustainability imperatives, and the imperative for resilient supply chains. Our white paper concludes with practical recommendations, urging companies and stakeholders to focus on strategic and sustainable sourcing and procurement, and stay forward-looking.

Download our free report for actionable insights on navigating the complexities of an ever-evolving global marketplace.