Question

Wk 6 Signature assignment Assignment Content About Your Signature Assignment This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. The signature assignments may be graded with an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements. Purpose of Assignment The purpose of this assignment is for students to demonstrate mastery of operations management concepts and tools. Assignment Steps Develop a 700- to 1,050-word memo to a prospective employer outlining your credentials, including: taking this class, all of the projects you have done for this class individually and with your team, and their impact on the businesses you have engaged with so a senior manager reading it would want to hire you as either an operations consultant or permanent employee. Summarize the business case for each project. Outline what you specifically accomplished, assuming these projects were implemented, and their estimated impacts on the business. Utilize the learnings from Week 6 to highlight your skills in global sourcing, procurement, and outsourcing which can also be of benefit to your target firm. Format your assignment as if you would be giving a presentation to senior management.

Answer 1

Global sourcing can be considered as a process of sourcing good or services or the material required to produce good and services from across the geopolitical boundaries of company. Here company mainly search for the source which can produce it's products in more cost-effective way or it tried to obtain materials or other services required to produce the final product in most efficient cost.

Here most of the companies strive to harness the potential global efficiencies, here the main efficiencies include sourcing skilled labor at low cost, quality raw material at low cost and other economic factors like low trade tariffs, tax saving, inflation etc .

Is there any difference between global sourcing and outsourcing?

YES, we do find difference between both, as global sourcing consist of procuring raw materials, intermediate products or even the finished product from across the globe  whereas outsourcing comprises of availing particular services from across the globe. But the main aim of both the strategy is to seek economies of scale.

Advantages of outsourcing over global sourcing or procurement is that it helps in giving more attention to core business processes and reducing fixed cost their by company can manage it's variable cost in better way.

When we go for global sourcing or outsourcing we need to take into consideration the risk involved in it, like cultural differences, international rules and regulations, economic fluctuation, complications in logistics management, customs regulations, currency fluctuation etc.

Company's need to maintain strategies in standardised and coordinated format to eradicate the obstacles arriving in the way of seeking economies of scale. Because to be a participant in global market and to build competitive advantage it's necessary to seek most efficient way to manage business.