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The Pros and Cons: International and Domestic Sourcing

Unleashed

It’s easy to oversimplify the differences between sourcing for parts locally or internationally. When considering where to purchase from, the prevailing idea seems to be that domestic sourcing allows for better control and shorter lead time, but international sourcing is more cost-effective. Let’s compare the strengths and weaknesses of both international and domestic sourcing options. International Sourcing. Reaping the benefits of international sourcing.

How COVID-19 is Battering Australia’s Imports and Exports

Logistics Bureau

Australian imports from China mainly comprise manufactured goods, including telecommunications equipment, IT products, furniture, home ware, clothing, toys, sports equipment, and televisions. Source Australian Bureau of Statistics. Refined petroleum: Australia sources most of its refined petroleum products from Singapore, which, with 138+ confirmed cases, is also in the COVID-19 firing line.

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Reversing globalisation: Near shoring, reshoring or staying put?

EFT

We have been living through remarkable times when it comes to manufacturing, technology and trade. The lure was irresistible for many manufacturers, who saw the chance for a competitive advantage, especially when such cheap resources were combined with the possibilities of just-in-time production. Perhaps the best way to tell the story of trade and manufacturing and where it might lead is through the economic evolution of China.

Logistics Services Providers Shift Investment Focus Outside BRIC Markets

BluJay Solutions

According to a recent study with particular focus on logistics, logistics services providers are beginning to expand their strategic geographic focus (source: Agility Emerging Markets Logistics Index 2013). Many manufacturers are seeking alternatives to BRIC countries, in particular China, as part of their future sourcing strategies. The emerging markets of Brazil, Russia, India and China that make up the ‘BRIC’ acronym continue to forge ahead.

BRIC 60

5 Ways To Improve Your Import-Export Business Now

EMERGE App

Or, if you’re lucky to deal with tropical islands like Indonesia , Thailand and the Philippines , do remember the concept of island time. This means reviewing your sourcing methods and reducing the time your stock spends on ships, trucks, and warehouses. One way is to start in the very beginning by using suppliers and manufacturers that you can trust to deliver on time, every time. This means sourcing them from trade portals or overseas trade exhibitions.