Buy Globally, Think Globally - Implications of Global Economics for Sourcing Professionals

Procurement people buy globally, so it is essential to take the wider economic and geo-political conditions into account.

However, in many industries procurement officers pay scant attention to important global economic and geopolitical factors when developing their strategy.  Many are running their long, complex 21st century supply chains with a parochial, 20th century outlook. Often, procurement managers don’t stop to think about how an event such as a war or a change in tax policy in a distant part of the world can have a significant impact on the availability of a commodity or service their company needs.

Booz Allen Hamilton's Simon Harper and Laura Thompson are the authors of "Buy Globally, Think Globally – Implications of Global Economics for Sourcing Professionals."

study posted April 4, 2007