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What managerial issues are associated with global sourcing decisions?
Wiki User
∙ 6y ago
During taking decisions on global sourcing one might face some issues these are generally
1. Product Quality
2. Total Landed cost
3. Location
4. Logistics Capability
5. Trade Regulations
6. Financial Considerations
7. Responsiveness of Supplier
Wiki User
∙ 6y ago
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define managerial economics?
Managerial economics is an applied field of economics that focuses on the use of economic analysis and techniques to solve business decisions. It combines economic theory with managerial practice and focuses on the microeconomic aspects of an organization, such as demand analysis and pricing, production costs, and investment decisions. Managerial economics applies microeconomic analysis to specific decisions in order to optimize outcomes and maximize profits. It also considers the macroeconomic environment in which a business operates, such as global economic trends and government regulations. Managerial economics provides a framework for understanding how businesses interact with their environment and make decisions that will impact their long-term success.
The importance of import and export?
Import and export has been an integral part of our lives for a very long time. Even before the United States was in existence, Europe was implementing the import and export of goods between them and other countries, which eventually led to the early stages of global sourcing and multinational purchasing on a smaller scale. Global sourcing in import and export practices is just as important as the multinational purchasing that comes with it. Without global sourcing, multinational purchasing would not be possible since global sourcing involves the identifying of alternate supplier choices and taking advantage of the different kinds of talent that are out there on the market. Multinational purchasing, on the other hand, entails that products are acquired from various international import and export practices(from 'news.bytrade.com/lists/4-Help.htm'). One company may have import and export agreements with several different international corporations in order to assemble products that will be distributed to consumers of other business. This makes import and export practices as a result of multinational purchasing an integral part of a global economy.
1 Managerial economics deals with the problem of a An individual firm b An industry c An economy d Global economy?
a. An individual firm
Why are presidential decisions so important on a global scale?
Presidential decisions are extremely important on a global scale. The choices that the President of the US makes can affect the economies of countries across the world. Furthermore, his choices could result in wars or other serious problems.
Since bankers financiers and everything associated with capitalism is now exposed as fraud greed and even more greed should we be rid of these leeches and consider global nationalisation?
No.
What are examples of global sourcing?
1. Linking the member enterprises by developing " Global Sourcing 2. This dimension of global sourcing results in demand for certified products.
What does procurator?
The fundamental of global sourcing is acquiring of product or services from the global market. It helps to expose the company's products or services in the global market. Global sourcing includes various activities like sourcing, procurement, supply chain management etc.
Are companies starting to use global sourcing as a way to cut costs?
"Yes, many large companies are beginning to use global sourcing as a way to cut costs. In this recession, global sourcing is looked at as a way to preserve funding."
define managerial economics?
Managerial economics is an applied field of economics that focuses on the use of economic analysis and techniques to solve business decisions. It combines economic theory with managerial practice and focuses on the microeconomic aspects of an organization, such as demand analysis and pricing, production costs, and investment decisions. Managerial economics applies microeconomic analysis to specific decisions in order to optimize outcomes and maximize profits. It also considers the macroeconomic environment in which a business operates, such as global economic trends and government regulations. Managerial economics provides a framework for understanding how businesses interact with their environment and make decisions that will impact their long-term success.
What do you think about Global Sources?
They have great China Sourcing Report of different industries.
Which managerial competencies reflect current strengths for you?
global awareness competency
Describe the three evolutionery stages of supply chain management?
1) international purchasing 2) global sourcing 3) Global supply management
What is the purpose of global sourcing?
"Global sourcing is designed to reduce costs and increase efficiency by buying products and services all over the world. Sometimes it can save money, other times it reduces service quality and increases transportation costs so the saving are not significant."
What does procurement mean?
The fundamental of global sourcing is acquiring of product or services from the global market. It helps to expose the company's products or services in the global market. Global sourcing includes various activities like sourcing, procurement, supply chain management etc.
What does glopes mean?
It stands for Global Political Economic Decisions
Describe the key factors associated with achieving success in the global marketplace?
descrribe rhe key factors associated with achieving success in the global marketplace
What does global sourcing do to the economy?
"Global outsourcing isn't necessarily good for the United States because it takes jobs that could be here in America, and sends them overseas to pay employees cheaper rates, leaving America jobless."
