Internet sourcing

Internet Sourcing

At the end of it, internet sourcing is all about being a part of supply chain management platform and sourcing strategy, if you ask guys from global sourcing or multinational purchasing companies. Thanks to broadband and the patronization internet sourcing enjoyed from global sourcing and multinational purchasing firms, internet sourcing is all set to become more and more powerful. Let’s face it, many American corporations enthused by the consumers’ shopping spree over the internet are out to prove a point or two, leading to an increased global sourcing activity.

-Drivers of Internet Sourcing By Multinational Purchasing

The biggest of the drivers for multinational purchasing as well as global sourcing companies to prefer internet sourcing is the fact that the booming consumerism backed by some of the low cost, reasonable quality electronic products from China which rekindled the desire to own things they would otherwise think twice to buy. Apparently, taking recourse to the old and traditional ways to multinational purchasing would fail to meet demand surges and will most definitely throw global sourcing companies in the lurch.

But is this sufficient enough reason for the mature global sourcing market to jump on to the internet sourcing band wagon for a complex multinational purchasing process? Well, look at some facts here. Internet sourcing, for multinational purchasing activities by global sourcing companies helps strengthen proceedings for global sourcing, making use of consolidated purchasing in addition to deepening the association between themselves and manufacturers/suppliers, through combined execution of internet sourcing. Major global sourcing firms are no more afraid of taking internet sourcing route for faster and perceivably secure procurement, no matter how big the multinational purchasing deal may be.

-Patronization by Multinational Purchasing Firms

This patronization of internet sourcing by global sourcing majors reflects on another face the multinational purchasing activities are shifting at. Internet sourcing is not always about savings but its mathematical precision with which it facilitates vendor listing, source development and sets the ball rolling.

It is for sure that more and more global sourcing companies are moving towards internet sourcing for their multinational purchasing needs because of its real time performance and pricing. Thanks to a recent report by Guardian, the rise in internet sourcing can be attributed to the rise in online retail sales which is over and above the traditional counter sales which consequently pressurized global sourcing agencies for adapting more efficient and quicker multinational purchasing models.