Global Sourcing Exam 1 PASSED Exam Questions and CORRECT Answers
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Course
Global Sourcing
Institution
Global Sourcing
Global Sourcing Exam 1 PASSED Exam
Questions and CORRECT Answers
industrial revolution - Correct Answer- began in the United kingdom and spread throughout
western spread to the rest of the world
fueled by advances in technology
earliest invention was a mechanism to spin cotton fibers
Global Sourcing Exam 1 PASSED Exam
Questions and CORRECT Answers
industrial revolution - Correct Answer- began in the United kingdom and spread throughout
western spread to the rest of the world
fueled by advances in technology
earliest invention was a mechanism to spin cotton fibers
Historical Background - Correct Answer- before industrial revolution, Women were in charge
of spinning fiber, weaving fabrics, and sewing cloth at home.
-Women started sourcing yarns and fabrics from markets as economy becomes more
sophisticated.
-Business clusters were formed for efficient buyer-supplier relationships.
-Business clusters are going to be centralized based on what region they are in.
Sourcing operations have expanded beyond clusters, states and even across national borders.
business clusters - Correct Answer- geographic concentrations of interconnected businesses,
suppliers, and associated institutions
is sourcing a new phenomenon? - Correct Answer- no
current status of global sourcing - Correct Answer- -Global sourcing is common across many
industries.
-Labor-oriented businesses have been moved from high-wage economies (or developed
countries), to low-wage economies (or developing countries), since World War II.
,-The U.S. is one of the largest apparel importing countries in the world—up to US $120
billion (22.3% of the world apparel's import).
pros of GS - Correct Answer- -If done right, global sourcing helps businesses to:
• Reduce material/operating costs.
• Improve quality (specialization- we are able to seek out countries that specialize in a certain
part of the process).
• Increase product availability.
• Respond quickly to changing market.
cons of GS - Correct Answer- -If done irresponsibly, global sourcing could create:
• Increasing rates of unemployment.
• Unfair labor practices in developing countries.
• Child labor exploitation.
• Negative Environmental Impact.
Sourcing - Correct Answer- 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.
Sourcing in the textile and apparel industry involves:
• Making decisions regarding the amount of product needed.
• Identifying production sites capable of producing goods for retail.
• Negotiating prices and discounts.
• Maintaining relationships with the manufacturers during thr production process, scheduling
deliveries, following to ensure on-time delivery, and maintaining quality.
dickerson's definition of sourcing - Correct Answer- the process of determining where and
how manufactured goods will be procured (obtained).
procurement - Correct Answer- short term
, sourcing - Correct Answer- long term
includes both buyer and supplier
outsourcing - Correct Answer- negative
signifies loss within cluster
supply chain - Correct Answer- group of suppliers, suppliers' suppliers, buyers, and buyers of
buyers of materials, information, and service providers organized to supply raw materials,
transform products, and satisfy the demand of ultimate consumers
all work together to meet the end goal of meeting demand by supplying and transporting the
goods or services required by such demand
supply chain management (SCM) - Correct Answer- a business function that strategically and
systematically coordinates the traditional business functions within a particular company as
well as across businesses within the supply chain
includes coordination and collaboration with channel partners, logistics management, supply
and demand management, integration of all business functions, and coordination with inter-
functional activities.
-Global sourcing is one of the activities under the SCM framework.
Triple bottom lines of sustainability - Correct Answer- • Environmental improvement.
• Social improvement.
• Economic improvement.
sustainable development - Correct Answer- the development that meets the needs of the
present without compromising the ability of future generations to meet their own needs
must consider lack of resources
if a firm outsources difficult tasks and sources easy ones, it will? - Correct Answer- lose it's
competitive advantage
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