In: Accounting
Competencies
Distinguish the strategic actions that differentiate between successful domestic and international sourcing plans.
Instructions
You have been in the Emerging Leaders onboarding learning and development program for one quarter and have experienced a few successes. During this onboarding-program you have participated in assessments and completed a leadership development outline to help you to identify and understand your organizational leadership style. Now let us move forward in the onboarding program where you are asked to develop a strategic plan outline to help you to distinguish the strategic actions that differentiate between successful domestic and international sourcing plans as an emerging operations leader.
For this strategic plan outline, you are being asked to address and answer the following questions:
Create a table outline and clearly distinguish the strategic actions that differentiate between successful domestic and international sourcing plans:
What does a successful domestic sourcing plan entail? Explain how you as an Emerging Leader will implement a successful domestic sourcing plan.
What does a successful international sourcing plan entail? Explain how you as an Emerging Leader will implement a successful international sourcing plan.
Clearly distinguish and differentiate in the table outline between successful domestic and international sourcing plans.
International sourcing |
Domestic sourcing |
1) THE MATERIALS ARE SOURCED FROM international country to take advantage of lower labor and production costs in order to cut operating expenses |
1) Materials are sourced domestically for better quality control and shorter time to market. |
2) market it entails availability of world-class technology that exists in certain markets |
|
3) it gives a wide exhibit of providers decisions, in this way involves Utilizing an effective inventory network administration frameworks |
3) it is suitable when the home country’s currency is weak as compared to the supplier’s country |
4) Companies can focus on their core processes and have more capital to invest in them. |
4) it minimizes the time and monetary cost of communicating with and traveling to suppliers |
Thus a cost and feasibility analysis is done to come up on a most accurate decision. All quality, specialized, timing, cost, and business drivers ought to be contemplated when contrasting your sourcing alternatives.