Global Sourcing Exam 1 Review 2023 Questions and Answers Complete
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Global Sourcing
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Global Sourcing
Global Sourcing Exam 1 Review 2023 Questions and Answers Complete
________ were in charge of spinning fiber, weaving fabrics, and sewing clothing at home
Women
Women started _____________ yarns and fabrics from markets as economy becomes more sophisticated
Sourcing
Business___________ were f...
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Global Sourcing Exam 1 Review 2023 Questions and
Answers Complete
________ were in charge of spinning fiber, weaving fabrics, and sewing clothing
at home
Women
Women started _____________ yarns and fabrics from markets as economy
becomes more sophisticated
Sourcing
Business___________ were formed for efficient buyer-supplier relationships
Clusters
Where have sourcing operations expanded?
They have expanded beyond clusters, states, and even across national borders
Labor-oriented businesses have been moved from in high-wage economies (or
developed countries) to ___________ since world war II
low-wage economies (or developing countries)
The U.S is one of the largest apparel ___________ countries in the world
Importers
How much did the U.S. import in 2014?
$120 billion and 23% of the worlds apparel's import
Pros of global sourcing:
o Reduce material/ operating costs
o Increase quality
o Increase product availability
o Respond quickly to changing market
Cons of Global Sourcing:
• Higher rates of unemployment
• Intensify gaps between the rich and poor within developed countries
• Unfair labor practices in developing countries
• Child labor exploitation
• Environmental degradation
A set of business processes and activities by which businesses acquire and
deliver components or fully finished products or services from outside of the
organization, with the objectives of finding, evaluating, and engaging suppliers of
goods and services to achieve long-term competitive advantages.
Global Sourcing
Sourcing is a ___________ activity.
Business to Business
Short term outlook
Procurement
Long term outlook
Sourcing
Sourcing in the textile and apparel industry involves:
o Making decisions regarding the amount of product needed
o Identifying production sites capable of producing goods for retail
, o Negotiating prices and discounts
o Maintaining relationships with the manufacturers during the production process,
scheduling deliveries, following to ensure on-time delivery, and maintaining quality
Sourcing tends to concentrate on acquisition and delivery of components or
products or services from outside of the organization to the organization.
Global Sourcing
Sourcing tends to concentrate on acquisition and delivery of ___________ or
products or services from outside of the organization to the organization.
Components
A Supply chain is a ___________ of materials, information, and service
processing links within the characteristics of supply, transformation, and
demand.
network
A network of materials, information, and service processing links within the
characteristics of supply, transformation, and demand.
Supply chain
The systemic, strategic coordination of the traditional business functions within a
particular company and across businesses within the supply chain for the long-
term performance of the individual companies and the supply chain as a whole
Supply Chain Management (SCM)
On of the activities under the SCM framework is _________?
Global Sorcing
Triple Bottom lines of sustainability include
o Environmental improvement
o Social improvement
o Economic improvement
Goals of Economic Improvement- Cost reduction by:
o Saving in labor costs;
o Avoiding paying taxes, tarrifs, or quotas imposed by one country or another;
o Reducing in production and transportation cost by finding a country nearby the
sourcer; and/or
o Reducing or removing risks
Goals of Economic Improvement- Productivity growth by:
o Focusing on its core competencies while sourcing special products from others.
o Value acquisition such as:
o New, novel, one-of-a-kind products;
o Personnel, skills, knowledge, or know-hows; and/or
o Social or environmental values.
Goals of Economic Improvement- Quick response and flexible product supply by:
o Analyzing market demand; and/or
o Identifying new trends
Goals of Economic Improvement- Supply assurance by:
Maintaining both flexibility and supply flow to maximize business performance
Goals of Economic Improvement- Quality assurance by:
Minimizing defects, late delivery, and incorrect processes
Goals of Economic Improvement- Efficient capacity management by:
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